SOURCE: Cutting Edge Information

November 06, 2007 08:22 ET

New Models for Drug Development Rely on Communication and Cooperation

RESEARCH TRIANGLE PARK, NC--(Marketwire - November 6, 2007) - Drug companies spend hundreds of millions of dollars on failed compounds that never make it to the market. A recent study from Cutting Edge Information shows how pharmaceutical and biotechnology companies could dramatically decrease the amount of R&D dollars spent on those compounds by increasing the collaboration between commercial and clinical teams (http://www.UnitingResearchAndMarketing.com).

Part of cutting development costs is to reach the Go/No-Go decision faster. According to the study, there is a structural, strategic and process gap between R&D and marketing that causes a disconnect between what the market wants, what patients need and how researchers develop drugs. By bridging these gaps, drug companies can easily cut costs and reach the kill decision much faster.

Progressive companies are bridging the gaps between marketing and R&D with integrated project management teams, formal communication processes, and co-governed portfolio management authorities. Top-performing drug companies build core marketing competencies in early-, middle-, and late-stage commercialization by dedicating project (or product) management teams to guide the commercial development of drugs as they progress through each of those three stages. Project management teams usually consist of marketers with expertise in the different commercial development activities required for products in each of those three broad lifecycle stages.

"Uniting R&D and Marketing for Integrated Early-Stage Market Preparation" available at http://www.UnitingResearchAndMarketing.com, includes strategies and tactics from 15 top pharmaceutical companies including Pfizer, Novartis, Merck, and Sanofi-Aventis. Failing to unite marketing and R&D in the drug development process may cause companies to spend millions on drug candidates that may not be commercially viable.

"Gathering these players in the same conference room enables communication, knowledge sharing and activity coordination," said Elio Evangelista, research team leader at Cutting Edge Information. "It also unites people from different backgrounds with diverse experiences and expertise to achieve common objectives."

To download a free summary of this 132-page report, visit http://www.cuttingedgeinfo.com/unitingresearchandmarketing/index.htm#body.

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