Contact Information: CONTACT: Elio Evangelista 919-433-0214
68% of Medical Affairs Departments Now Have Stand-Alone Budgets, Study Finds
| Source: Cutting Edge Information
RESEARCH TRIANGLE PARK, NC--(Marketwire - April 15, 2008) - According to a study by
pharmaceutical business intelligence leader Cutting Edge Information, the
share of medical affairs groups with stand-alone budgets is on the rise.
The study, available at www.PharmaMedicalAffairs.com, finds that 68% of
medical affairs departments now own department-specific budgets, whereas a
similar study conducted in 2005 concluded that only 55% of medical affairs
groups benefited from a wholly dedicated budget.
According to the study, many companies' medical affairs departments have
recently centralized their medical affairs departments. Pharmaceutical
companies -- especially those that operate on a global scale -- recognize
the value of centralizing medical affairs. As a result, medical affairs
groups are taking on more strategic roles within their companies, and these
structural changes have rippled out to affect medical affairs budgets.
In addition, many companies have cut ties between their medical affairs and
marketing departments in response to compliance concerns. In the past
medical affairs teams often shared resources with other functions such as
marketing, but the firewalls that companies have placed between marketing
and medical affairs often call for separate budgets.
"Medical affairs departments are becoming more independent, both
structurally and in terms of resources," says Elio Evangelista, research
team leader at Cutting Edge Information. "This trend is evident both in
terms of structure and in terms of resources."
"Medical Affairs: Delivering Strategic Value"
(http://www.PharmaMedicalAffairs.com), was designed to explore
pharmaceutical companies' medical affairs structures, resources and
strategies. Based on in-depth surveys and interviews with industry
executives, the report provides several best practices, which detail how
leading companies adapt and thrive commercially while still remaining
compliant. The study offers strategies for how medical affairs teams can
improve internal communication and coordination, as well as negotiate
effectively for additional resources.
Download a free summary of "Medical Affairs: Delivering Strategic Value"
or purchase the report at:
http://www.cuttingedgeinfo.com/pharmamedicalaffairs/PH112_Download.asp#body.