SOURCE: Cutting Edge Information

March 17, 2008 08:27 ET

Potential Thought Leaders Hesitant in Light of States' New Reporting Laws

RESEARCH TRIANGLE PARK, NC--(Marketwire - March 17, 2008) - According to a recently published study by Cutting Edge Information (http://www.PharmaOpinionLeaders.com), states' new laws are affecting pharmaceutical companies' ability to attract top thought leaders. The report, "Pharmaceutical Opinion Leader Management: Cultivating Today's Influential Physicians for Tomorrow," examines how pharmaceutical companies are structuring and managing their thought leader departments to better respond to current and future challenges.

More than two dozen states have recently enacted reporting laws that require pharmaceutical companies to report their thought leader activities, including all physician compensation. These laws are supposed to limit kickbacks and other unethical reimbursements. However, the laws are also limiting the number of physicians willing to work with pharmaceutical companies. Most of these thought leaders are leery of their incomes becoming public. They see this as a violation of what should be private information.

With physicians hesitating, it is all the more important for thought leader management departments to focus on maintaining current thought leader relationships. Doing so can decrease the turnover rate of thought leader relationships dramatically; negating the need to scout for new thought leaders. In addition, satisfied thought leaders are more likely to recommend the company to their peers -- peers who may not be currently aligned with a pharmaceutical company or who may be dissatisfied with their current relationship.

Thought leaders are influential in their specific spheres. Forward-looking pharmaceutical companies cannot afford to lose the respect of these physicians. If they do, the damage may be irreparable.

"Pharmaceutical Opinion Leader Management: Cultivating Today's Influential Physicians for Tomorrow" is a study of 41 pharmaceutical, biotechnology and medical device companies' thought leader management structures, resources, processes and activities. The report includes detailed segmentation and funding data collected from top companies, such as Pfizer, Bristol-Myers Squibb, Schering-Plough and Novartis.

Download a free summary of "Pharmaceutical Opinion Leader Management: Cultivating Today's Influential Physicians for Tomorrow" or purchase the report at: http://www.cuttingedgeinfo.com/pharmaopinionleaders/index.htm#body

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