March 19, 2020 PAP-Q1-20-R2-009
Innovators and generic companies alike are challenged in the current highly competitive environment to bring new products to market that provide real therapeutic value — treatments that achieve measurable results in terms of improved health and quality of life for patients and that do so at a reasonable cost. Despite the increasing complexity of both small molecule and biologic drug substances, new drugs must be not only safe and efficacious, but also patient friendly and effective in increasing medication adherence.
Greater efficiency and productivity are needed. Access to novel technologies, from digital tools and manufacturing platforms to delivery solutions, will be essential. Entrepreneurial pharma and biotech companies will continue to lead innovation in next-generation medicines, driving further growth of licensing deals and co-development partnerships.
For all of these reasons, significant growth in outsourcing will be a dominant theme in the pharmaceutical industry going forward. However, there is great need to improve the effectiveness of outsourcing in order for the industry to maximize the benefits of this approach. To truly increase the effectiveness of outsourcing, customers must have confidence and trust in the ability of their outsourcing partners to provide delivery OTIF while meeting the regulatory requirements of the markets they serve and at a fair price.
The leaders of TriRx Pharmaceutical Services have come together to create a CDMO that delivers that higher standard of performance to the biopharmaceutical market. Their complete focus is delivering on their commitments and exceeding the expectations of their customers, and TriRx is confident that they are earning their customers’ trust. As a result, TriRx is differentiating itself in the marketplace and creating significant growth opportunities for the company.
In the near term, the company is focused on increasing business with existing customers in the liquids, solids, and semisolids space. TriRx has established strategic partnerships with some of the top five pharmaceutical companies and a number of specialty pharma firms. In exchange for delivering on their outsourcing needs, these customers are helping TriRx grow rapidly.
TriRx is also pursuing a number of acquisitions to expand their capabilities in key growth sectors, including biologics and sterile drug manufacturing. The company currently has five acquisitions under development and expects to close on two of them within the next six months.
TriRx’s growth has benefited from strategic partnerships with Marken, a chain/distribution company; Icagen, a biotech company; SAP, a technology firm; and Federal Equipment Company, an equipment supplier. Rapid access to equipment is increasing the company’s ability to get to market quicker, while advanced information technology is enabling effective integration of their systems for greater efficiency and productivity. TriRx is also expanding its capability to support delivery to specific customers and is investing in added capacity and capabilities at the Huntsville, Alabama, liquid and semi-solid manufacturing facility to meet growing demand for these products.
Going forward, TriRx will continue to invest in their people and infrastructure to ensure that they are consistently delivering an exceptional outsourcing experience and helping their customers succeed in the face of constantly evolving challenges and opportunities.
Nice Insight, established in 2010, is the research division of That’s Nice, A Science Agency, providing data and analysis from proprietary annual surveys, custom primary qualitative and quantitative research as well as extensive secondary research. Current annual surveys include The Nice Insight Contract Development & Manufacturing (CDMO/CMO), Survey The Nice Insight Contract Research - Preclinical and Clinical (CRO) Survey, The Nice Insight Pharmaceutical Equipment Survey, and The Nice Insight Pharmaceutical Excipients Survey.
TriRx Pharmaceutical Services is a global CDMO serving the biopharmaceutical market. Headquartered approximately 50 miles outside of New York City in Norwalk, Connecticut, TriRx operates facilities providing state-of-the-art laboratory, manufacturing, packaging, warehousing, and technical service capabilities.
Founded and led by a team of pharmaceutical industry executives who have served as both contract service providers and customers, TriRx has a profound and multifaceted understanding of customer needs. This depth of understanding and commitment provides TriRx with the knowledge and know-how to deliver an exceptional experience on every project, consistently meeting or exceeding quality standards, regulatory requirements, on-time-in-full (OTIF) obligations, and other customer expectations.