SOURCE: Cutting Edge Information

November 25, 2008 08:14 ET

Cutting Edge Information Releases Report Showing a 13% Increase of Medical Affairs Groups With Dedicated Budgets

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.

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