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A 3rd party is an individual or corporation, who acts like a consultant, advisor, agent or independent contractor who renders services to the company. In case of Pharmaceutical Third Party Manufacturing, the third party usually offers manufacturing services/contract manufacturing services.
Posted by Tradeindia user (03-09-2020)
It all comes down to cost and quality of the final product. If one believes that the cost will be reduced and quality of the product will be improved by outsourcing the manufacturing responsibilities, one shall choose this route and vice versa.
The Pharmaceutical Third Party Manufacturing is referred to as the outsourcing the production responsibilities of a pharmaceutical range to a third party. Many pharmaceutical companies prefer to choose manufacturers who have better access to the raw materials and are backed with expert team. This reduces the cost of hiring experienced manufacturers and give the enterprise more time to research.
This Data was Last Updated on 26-06-2022