Contact Information: CONTACT: Elio Evangelista 919-433-0214
Cutting Edge Information Releases Report Showing a 13% Increase of Medical Affairs Groups With Dedicated Budgets
| Source: Cutting Edge Information
RESEARCH TRIANGLE PARK, NC--(Marketwire - November 25, 2008) - Nearly 70% of pharmaceutical and
biotech companies now have medical affairs teams with dedicated budgets,
according to Cutting Edge Information's 2008 report, "Medical Affairs:
Delivering Strategic Value" (www.pharmamedicalaffairs.com).
Cutting Edge Information's study finds that the percentage of medical
affairs groups with their own budgets now stands at 68%, compared to only
55% in a similar 2005 study.
"Our research shows the rising importance of medical affairs departments in
reaching key opinion leaders and thought-leading physicians -- particularly
as drug companies' cost-cutting measures target traditional sales forces,
which have been plagued recently by declining impact on physicians'
prescribing habits," said Elio Evangelista, the report's lead author.
This surge in separate funding of medical affairs departments also reflects
many companies' recent efforts to cut ties between their medical affairs
and marketing functions in response to compliance concerns. Many medical
affairs departments once worked closely with their companies' marketing
teams and shared funding with that function. As the operational line
between marketing and medical affairs has become more well-defined, medical
affairs teams have consequently been given their own full-fledged budgets
rather than line items in the budgets of marketing and commercial
operations.
"Medical Affairs: Delivering Strategic Value"
(www.pharmamedicalaffairs.com) benchmarks industry-leading medical affairs
structures and explores the best practices that departments have
implemented to remain compliant. The report also provides medical affairs
departments with the tools to improve their functions by comparing their
spending, staffing, global structures, and strategies to those of top
pharmaceutical companies.
Developed through primary research with industry executives, "Medical
Affairs: Delivering Strategic Value" (www.pharmamedicalaffairs.com)
provides several best practices that detail how leading companies adapt and
thrive commercially while still remaining compliant. The report offers
strategies for how medical affairs teams can improve internal communication
and coordination, as well as negotiate effectively for additional
resources.
Download a complimentary brochure or purchase the report at:
www.pharmamedicalaffairs.com.