SOURCE: Cutting Edge Information

Cutting Edge Information

July 19, 2016 08:17 ET

Top 10 Global Pharma Company Reports a 3 Million Dollar Increase in Post-Marketing Study Investments

Post-Marketing Clinical Spending Varies Every Year Based on Pharma Companies' Goals

RESEARCH TRIANGLE PARK, NC--(Marketwired - July 19, 2016) - A new study published by Cutting Edge Information found that at least one Top 10 pharmaceutical company grew its post-marketing study investment from $6 million in 2014 to $9 million in 2016. Compare that to one Top 50 global pharmaceutical company that decreased its post-marketing study budgets by 12.5% over the same time period.

The newly published study, Post-Marketing Study Excellence: Design Phase 4 Trials to Demonstrate Real-World Outcomes, surveyed global, US and country-level post-marketing study teams. The study also found varied spending from year to year in the US and at the country-level, similar to global teams. One small pharmaceutical company expected post-marketing study costs to grow $3 million from 2015 to 2016. However, a different top 50 company reported that 2014 spending totaled $2.5 million while it remained a consistent $2 million in both 2015 and 2016.

"Life science companies need to set aside significant funding to post-marketing studies," said Natalie DeMasi, research team leader at Cutting Edge Information. "But the necessary resources are determined by the types of studies required. Trial complexity, required training and standard timelines are all factors that cause variance across post-marketing study types."

With changing needs and resource levels, drug and device companies face a number of challenges when determining post-marketing study budgets. According to the study, pharmaceutical companies often demonstrate a lack of understanding around post-marketing study costs. Frequently, pharmaceutical companies do not properly allocate funds to support necessary studies.

Post-Marketing Study Excellence: Design Phase 4 Trials to Demonstrate Real-World Outcomes, available at http://www.cuttingedgeinfo.com/research/medical-affairs/phase-iv-clinical-trials/, provides insight and best practices on post-marketing research ownership, resourcing and staffing post-marketing studies. The report also includes trend analysis and metrics on interventional and observational studies, as well as the effectiveness of study outcomes due to early planning. Report highlights include:

  • Determining the best-fit post-marketing research alignment for global and regional-level teams.
  • Identification of post-marketing study team staffing trends.
  • Key recommendations for planning studies per product.
  • Provide the latest trends concerning observational and interventional studies.

To learn more about Cutting Edge Information and its post-marketing study report, please visit http://cuttingedgeinfo.com/.

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