A commercial-stage biopharmaceutical company needed help managing its costs and relationships with Clinical Research Organizations. They required external expertise to understand how to work with their suppliers more efficiently and effectively.
Acquis was engaged to review the company’s current supplier landscape and contracts that were eligible for renewal to highlight areas for improvement.
Approach: Think + Do
The Acquis team conducted a thorough spend analysis across the organization’s CRO spend category, identifying the areas of opportunity while prioritizing and validating potential savings with the impacted teams.
Acquis worked with the stakeholders across the company to identify and prioritize their requirements and to develop and issue an RFP with new and incumbent suppliers. The suppliers’ responses offered considerable insight into the true cost basis and fair market value for their services along with highlighting innovative approaches and methodologies.
The team provided tactical contract review and support, challenging unfavorable supplier terms and negotiating fairer prices for repeated goods and services.
Within the first three months, Acquis helped the client achieve over $2MM in realized savings through in-flight CRO supplier negotiations prior to contract signing.
Acquis also identified $12MM+ incremental potential savings across 7 categories: Clinical Research, Contract Manufacturing, and Indirect Spend Areas.
Developed and prioritized a series of savings initiatives ranging from R&D category sourcing to Clinical Operations preferred supplier program.