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March 11, 2015.
A report by Source Information Services reveals that spend on consultants in UK pharma rose by 11 per cent to £194 million ($293 m) in 2014. This represents something of a U-turn for the industry, which has historically been reluctant to use management consultants, and compares favourably with a 6.6 per cent average growth rate across the UK consulting sector.
Source says that the main drivers of this growing use of consultants has been regulation, the need to cut costs, and post-merger activity. Pricing pressures also mean that life sciences companies are looking to find new revenue streams to provide services to consumers rather than just products.
For more information on the report visit www.sourceforconsulting.com.