How it Works: Purchasing Second-hand Pharmaceutical and Biotech Equipment
Whether due to mergers and acquisitions, lab downsizing, upgrading or outsourcing, many pharmaceutical and biotech companies—large and small—are opting to sell R&D or manufacturing equipment no longer needed in their own labs. This presents a great opportunity for other institutions to obtain late-model, quality equipment at a reduced cost, direct from the working lab. While purchasing second-hand equipment can be a cost effective and socially acceptable way to go, there are potential pitfalls buyers should look out for including: unreliable sellers, equipment contamination, hidden fees, and unverified purchasing channels.
By implementing a few best practices, interested buyers of used biopharma equipment can navigate the secondary market successfully and ensure a streamlined purchasing process.
Buying from a credible source and knowing the condition of the assets are two extremely important rules to go by. Because the equipment is typically sold ‘as is’ with no refunds, make sure what you are buying has come straight from the working lab environment of a reputable institution. If possible, you should plan to inspect the equipment in person. In some cases the seller will schedule a preview period for potential buyers to come out and look at the item(s). If an in-person preview is not offered or not possible, plan to validate the equipment based on the written description, images and video provided via the sales platform. Keep in mind: all credible secondary market sellers will provide this type of marketing collateral as well as transparency when it comes to the sales terms and conditions.
Read the entire Lab Manager Magazine Article here