CHAPEL HILL, N.C., Nov. 16, 2012 /PRNewswire/ -- Pharmaceutical organizations are experiencing two dynamics in mature markets like North America and Europe: Clinical costs are continuing to rise and sales are either rising negligibly or not at all.
In emerging markets, meanwhile, the pharma sector is experiencing lower clinical costs and rapidly rising sales. While mature markets still represent a lion's share of most companies' sales, emerging markets represent significant cost savings and important future sales. And large countries like China and India are now requiring local clinical trials to win regulatory approvals to market products in those countries.
What this all adds up to is pharma organizations need to continue expansion of their clinical programs into emerging markets to cut costs and boost sales.
A study from Best Practices, LLC, Clinical Affairs Excellence: Benchmarking Clinical Roles and Trends for Pharmaceutical Success in a Global Marketplace, presents difficult to find metrics associated with outsourcing clinical trial activities – including cost, staffing, and quality. Best Practices®, LLC conducted this study to inform clinical affairs leaders at pharmaceutical companies on benchmarks around vendor selection, outsourcing attributes, desired competencies and outsourcing levels for key clinical functions, clinical affairs structure and outsourcing trends. In addition, the study presents qualitative insights from participants around outsourcing success factors and pitfalls.
Research participants included seven executives and managers from six pharma companies across a wide variety of therapeutic areas and product classes. In addition, four executive interviews were conducted to collect qualitative insights.
Specifically the study encompasses the following key topic areas:
- Vendor Selection and Outsourcing Attributes –-Presents benchmarks around selecting a vendor and the attributes of outsourcing.
- CRA, CRM, and CRD Competencies & Outsourcing Levels– Presents benchmarks on desired competencies for CRAs, CRMs and CRDs and participants' outsourcing levels for these functions.
- Clinical Affairs Organizational Fit –Highlights benchmarks around participants' organizational structure for Clinical Affairs.
- Outsourcing Success Factors and Pitfalls – Provides participants' qualitative insights around outsourcing success factors and pitfalls.
- Outsourcing Trends and Directions– Presents benchmarks on emerging trends for clinical activities in emerging areas of the world.
To access the full report or to download a complimentary summary containing insights found in this report, click on the following link: http://www3.best-in-class.com/rr1190.htm.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 and 48 of the top 50 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis.
SOURCE Best Practices, LLC