Internal Groups are Valuable Sources for Pharmaceutical Competitive Intelligence Function

Sep 13, 2011, 11:55 ET from Best Practices, LLC

CHAPEL HILL, N.C., Sept. 13, 2011 /PRNewswire/ -- Pharmaceutical Competitive Intelligence functions look to internal colleagues and departments to unearth critical insights. Internal groups most often receiving the highest value ratings as information sources are Medical Affairs and Medical Science Liaisons.

More than 80 percent of companies currently reach out to Medical Affairs for valuable competitive intelligence. However, nearly one-third of companies do not tap their Medical Science Liaisons for information, according to "Best Practices in Competitive Intelligence: Policies & Guidelines that Reduce Corporate Risks," a primary research study conducted by Best Practices, LLC.

Download a complimentary white paper at http://www3.best-in-class.com/rr1116.htm that includes selected best practices drawn from extensive primary research with competitive intelligence leaders from 22 different biopharmaceutical companies.

Key insights include:

  • Benchmarked companies use an array of external sources to collect competitive intelligence. Medical congresses are the most used external CI source, and clinical trial investigators the highest rated. Third-party CI vendors rank second in both use and value.
  • The primary source that vendors go to is Key Opinion Leaders. Other top targets are medical congresses and competitor companies.

The full 52-page report contains more than 120 benchmark metrics and 16 executive narratives, providing executives with benchmarks of world-class companies for optimizing CI operations and working with the Legal department to develop policies as well as insights into the best practices for collection, use and sources of primary data - including employment of third party vendors for primary data collection.

For more information on this study and other recent primary research studies, contact us at 919.403.0251 or at bestpractices@best-in-class.com.  

BEST PRACTICES, LLC, conducts work based on the simple yet profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies. Best Practices, LLC has been a leader in pharmaceutical research and consulting for more than 17 years; our clients include 48 out of the top 50 pharmaceutical companies.

SOURCE Best Practices, LLC



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