SOURCE: Cutting Edge Information

April 16, 2008 07:27 ET

50% of Medical Publications Budgets Spent on Outsourced Work

RESEARCH TRIANGLE PARK, NC--(Marketwire - April 16, 2008) - A new study released by Cutting Edge Information, available at http://www.PharmaPublicationStrategy.com, examines medical publication practices among major therapeutic areas. According to the study, medical publications teams are greatly aided by utilizing outsourced vendors. Outsourced work expenses make up 50% of the average medical publications budget.

Outsourcing is not new to pharmaceutical companies, who appreciate the inherent flexibility that vendors provide. However, many companies still neglect to use vendors in their medical publications efforts. Outsourcing enables pharmaceutical companies to take advantage of specific vendors' more targeted experience and expertise in the field.

Despite the large share of budgets that tend to go toward outsourcing, companies should assess the practicality of outsourcing to their medical affairs departments before taking outsourcing initiatives. Some larger companies, for example, already have financial and staffing resources in-house for all medical publications activities, so there is little, if any, reason to use outside vendors. On the other hand, many newer companies do not already have a medical publications department set up and therefore should use vendors to help them establish a medical publications strategy.

According to Elio Evangelista, research team leader at Cutting Edge Information, "Outsourcing is not ideal for every medical publications department; in some instances, the use of vendors could actually hinder a company's medical publications activities."

Successful outsourcing strategies do not end after projects have been completed, however. Medical publications executives agree: vendor relationships must be maintained even after a specific project is over. Continual development of vendor relationships helps to provide leverage in future contracts.

"Pharmaceutical Medical Publications: Market Preparation & Strategic Support" (http://www.PharmaPublicationStrategy.com), was designed to explore pharmaceutical companies' medical publications structures, strategies and processes. The study delves into the resource support and funding that various medical publication departments and teams benefit from in the report's 14 company profiles. In addition, through this report, readers will be exposed to some of the industry's best medical publication practices and will be better positioned to streamline their own strategies and processes by benchmarking their efforts against those of top-leading companies.

Download a free summary of "Pharmaceutical Medical Publications: Market Preparation & Strategic Support" at http://www.cuttingedgeinfo.com/pharmapublicationstrategy/PH104_Download.asp#body.

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