With heightened competition among pharmaceutical companies for clinical investigators and patients, higher regulatory demands for larger and more complex clinical trials and shrinking product lifecycles, pharmaceutical companies are under tremendous pressure to complete clinical trials on time and on budget.
Recent Best Practices, LLC research underscores the high stakes and urgent need for pharmaceutical companies to improve the clinical trial process. Through this research, we provided our clients with intelligence needed to reduce business pressures by saving time and money on clinical trials.
Effective sales and marketing is at the heart of success for high-growth pharmaceutical brands and companies. Pharmaceutical sales forces have grown 85% over the past five years. As sales forces grow, revenue per representative tends to decrease. Due to this recent trend, leading pharmaceutical companies are looking to improve the effectiveness and efficiency of their sales reps. Is your sales force performing at best-in-class levels? Our research and field studies will enable your company to identify gaps in sales force effectiveness and provide you the tools to systematically enhance sales-force productivity.
Best Practices, LLC is also a recognized leader in the field of marketing benchmarking and process improvement. We have extensive experience in helping clients navigate all phases of the marketing process from new product development and commercialization through launch and brand lifecycle management.
Partnerships between pharmaceutical and diagnostic companies will become a necessity as disease knowledge expands and therapeutic interventions become more specific and customized to individual patients. Genetic discoveries and regulatory concerns have created an environment where pharmaceutical companies need diagnostic industry partners to realize the full potential of a product – or in some cases to even gain approval to market a drug in the first place. Likewise, diagnostic companies could potentially reap great benefits from partnerships in the form of increased development and marketing support for a new test, leading to quicker times to market.
Our research expertise in this area can help your organization understand how diagnostic and pharmaceutical companies can bridge differences in their business models to create successful partnerships. Previous research by Best Practices, LLC, analysts in this area include the development and marketing of different tests, the establishment of these tests within the medical community, and the integrated activities between diagnostic/prognostic tests and therapeutic compounds. Our previous work in this area positions us to help you make critical decisions about the investments and activity levels required to successfully manage partnerships.
As stated by one partner, "Good quality is life enhancing. Bad quality is life threatening." It's also company threatening. Due to increased FDA scrutiny, manufacturing quality is increasingly a key driver in successful and timely product launches, optimizing revenue streams, enhancing the company's reputation, and maximizing shareholder value. With half-billion dollar fines, consent decrees, 483 warning letters, and repeat inspections setting the tone, several pharmaceutical clients have come to us looking for ways to optimize the quality function at their manufacturing facilities.
Our research dissects the quality function into major components, looking at subjects such as department structure, roles and responsibilities, relationships between corporate and the sites, staffing levels, education backgrounds, and experience levels. Our quality research has also focused on manufacturing sciences and technical services (validation and procedure writing and changes), laboratory staffing and efficiency issues, part 11 compliance, deviation/event management, performance measurement, and best practice sharing between facilities.
Studies are conducted on behalf of global pharmaceutical companies and typically involve five to ten world-class performers in the pharma quality arena. With our insights in hand, clients are well positioned to enhance product quality, reduce variability, hire and retain the best quality personnel, and optimize their quality investment. We are also positioned to relate the very latest trends and practices in quality organization performance, to stay one step ahead of the auditors, and to maximize the quality of life of patients.
Launching a Blockbuster: The Making and Marketing of Megabrands -- Our CEO Christopher Bogan and pharmaceutical best practice expert David Wang co-wrote this must-read article for "Pharmaceutical Executive" magazine. Download the article
Marriages Made in Heaven? -- Our CEO Christopher Bogan co-wrote this article on Merger and Acquisition Integrations for "Pharmaceutical Executive" magazine. Download the article