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Japanese pharmaceutical company Shionogi has signed an R&D partnership with six Irish Universities.
There are several forces driving globalization of R&D. The first is to better target the R&D needs and markets of other nations. A second is to spread the costs of large projects between two partners or more to reduce the risks and costs incurred by each partner. A third is to promote the sale of the R&D results to the countries in which the R&D took place.
Forming and managing effective global research teams with members located in far-flung countries and different time zones is a major challenge for lab managers at multinational companies and at companies outsourcing lab work overseas.