Pharmaceutical companies outsourced 80% of their medical publications spending in 2004, according to new research from pharmaceutical business intelligence firm Cutting Edge Information.
14% of drugs’ medical publications budgets support internal activities and workers, according to the study, “Pharmaceutical Publications Strategy and Planning” (cuttingedgeinfo.com/studies/PH67survey.htm#body), which is still ongoing. Early results, which are based on surveys of individual brands’ medical publications resource allocation, show 6% of spending is allocated to contract workers.
Cutting Edge Information recently launched the study to identify resource allocations, assess returns on investment and identify tools and strategies to help pharmaceutical, biotechnology and medical device companies improve their medical publications departments and benchmark performance against others in these industries. Given the average $900 million-plus investments in new drug development and commercialization, it is critical that drug companies enhance their medical publication strategies and planning efforts.
“Pharmaceutical Publications Strategy and Planning” (cuttingedgeinfo.com/studies/PH67survey.htm#body) focuses on 2004 budgets and staffing levels; individual brands’ phase-by-phase medical publications resources; internal, contract and outsourced workers’ productivity levels and the returns on investments in manuscripts and abstracts written and published by each of these categories of workers; and various aspects of companies’ medical publications strategy and structure.
Cutting Edge Information seeks medical publications, medical marketing, medical communications, and medical affairs executives, as well as brand directors, product managers and other industry experts involved in medical publications to participate in the new study. Participants will receive the complimentary findings in exchange for their involvement when the study is complete in mid-April.
To participate, Cutting Edge Information asks executives to visit cuttingedgeinfo.com/studies/PH67survey.htm#body to complete a short survey. All information will be blinded to protect participants’ confidentiality.
Cutting Edge Information designed the research to help pharmaceutical, biotechnology, medical device and medical publications executives assess their departments’ performance, assign resources, and enhance their products’ publication strategies. Study results will help participants identify opportunities for improvement and guide companies along the path to enhancing their medical publications efforts to inform the medical community.
