SOURCE: Cutting Edge Information

August 13, 2008 08:14 ET

Meeting Planning Teams Becoming Vigilant in Compliance Efforts, According to Cutting Edge Information Study

RESEARCH TRIANGLE PARK, NC--(Marketwire - August 13, 2008) - The pharmaceutical industry has steadily become an increasingly regulated industry. Meeting planning is one of the more restrictive facets of the pharma industry, as regulative bodies are keeping an eye on the ways that pharmaceutical companies promote their products. In fact, a new study by business intelligence firm Cutting Edge Information finds that 68% of pharma companies classify their compliance policies relating to meeting planning as "very strict."

The study, "The Evolving Global Meeting Management Strategy," examines the effects of regulatory pressures on the meeting planners' roles and responsibilities in the life sciences industries -- pharmaceutical, biotechnology, and medical devices. It identifies global trends in meeting planning and provides key resourcing and outsourcing benchmarks.

A report summary is available for immediate download here: http://www.cuttingedgeinfo.com/pharmameetingmanagement/PH111_Download.asp#body

"Compliance-related issues are having a significant impact on meeting planning teams," said Elio Evangelista, the report's lead author. "The regulatory environment has expanded its reach, and companies are looking to do everything within their power to ensure that they are complying with the necessary policies."

The 138-page report examines meeting planning management organizational structures and reporting lines, resource levels, meeting venues and formats. It also identifies challenges unique to company type -- and examines ways to address them, such as technological tools. The report enables companies to elevate the strategic importance of meeting planning teams to win physicians' attendance and organize high-caliber meetings.

Developed from surveys and interviews with executives at 21 top life sciences companies, the report shows meeting planning teams how to coordinate global compliance, streamline processes, balance external and internal priorities, make the most out of limited resources, and drive physician attendance and participation.

The report contains 250-plus metrics, including the following:

--  The impact of regulations on meeting planning efforts
--  Percentage of domestic versus international meetings
--  Number of internal and external meetings planned in 2007 and 2008
--  Meeting spending in 2007 versus 2008
--  Average spending per meeting, year-to-year
--  Average spending levels by department age
--  Meeting planning funding contributions
--  Percentage of meeting budgets that are outsourced
    

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