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New Models for Drug Development Rely on Communication and Cooperation
| Source: Cutting Edge Information
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.