|Pharma Publications Recognize Best Practices, LLC |
Best Practices, LLC's benchmarking work in the pharmaceutical industry has been recognized and praised by major pharma news sources, including PharmaExec.com, MedAdNews, and Pharma Voice.
|How to Make Rx-Dx Alliances Work|
Peter Keeling and Paul Meade. July 1, 2003
|Partnerships between pharmaceutical (Rx) and diagnostic (Dx) companies are difficult to achieve because most managers don’t understand what it takes to make them work. Some pharma executives see diagnostic tests as a double-edged sword. On the one hand, tests can diagnose patients who should take a particular medication, thereby expanding market share. Yet, diagnostics threaten to limit market share by inhibiting doctors from prescribing a medication without a confirmed diagnosis. |
|The Right Staff
Keith Symmers. March 1, 2003
|A quality-control department under fire can do immense damage to a company's reputation and shareholder value-and may even affect patient health if substandard products reach the market, new products are delayed, or products become unavailable. Such a department, if understaffed or poorly directed, can bring an entire pharma company to its knees. Although manufacturing design and production procedures have a sizable bearing on consistent product quality, the single most important factor in maintaining consistency is the staff. Many companies have faced FDA scrutiny for quality issues in recent years, but others consistently maintain exceptional reputations with few or no major observations or "483" warning letters. Understanding what those companies are doing right is critical to staying on the leading edge of product quality and avoiding the pitfalls of sub-par performance.|
|Marriages Made in Heaven?
Christopher Bogan and Keith Symmers. January 1, 2001
|In recent years, some of the industry's largest companies have said "I do" at the merger altar. Midsized pharma, small biotech, and genomics companies have also joined the mating frenzy. The mixed results of those unions have left shareholders, customers, and employees wondering-are such marriages made in heaven or in hell?|
Conducted across 15 major economic sectors, new research probing merger and acquisition (M&A) integration holds valuable lessons for those engaged in, or planning for consolidation. Best Practices studied 100 companies and conducted extensive interviews with a mix of pharma and nonpharma M&A integration managers at a select group of 20 companies. Taken together, the companies and managers involved in the study had handled approximately 1,000 M&A integrations. This article presents the insights and lessons learned from those experienced in integrating companies and business units.
|Launching a Blockbuster: The Making and Marketing of Megabrands
Christopher Bogan and David Wang. January 1, 2001
|“Blockbusters are not discovered, they are built!” With those words a marketing executive issued a clarion call to would-be players in the high-potential pharmaceuticals’ game. Current winners with “power hitter” portfolios can attest to the competitive advantages: the ability to recruit and retain top talent, marketing economies of scale, greater access to medical thought leaders, a positive halo effect over smaller products in the sales rep’s bag, and enormous cash flow to fuel future growth.|
|Toward Competitive Intelligence
Denis Myshko. September 1, 2002
|Pharma companies may need to take a closer look at the way brand teams and corporations as a whole use competitive intelligence (CI)-across multiple functions-or they risk missing lucrative opportunities. |
Paul Meade, vice-president of the consulting company Best Practices and a 23-year pharma industry veteran, discusses a study of CI practices at 19 companies, 15 of which are pharma. He says companies can empower CI personnel to help them more effectively manage the competitive environment.
|Behind the Mirror: The Science and Art of Market Research
Denise Myshko. March, 2003
|"Pharmaceutical companies that get the most for their market research dollar have several things in common," says Chris Bogan, president and CEO of Best Practices, LLC. "What we're talking about is market research that is brand-specific, therapeutically relevant, and Designed to help the early design and development teams understand what doctors need," said Chris Bogan.|
| Customer Relations Management|
|According to Christopher Bogan: “The reality is that any company that has customers has customer-management issues. Any company that thinks about how to optimize it’s economics inevitably has to ask, what is the best way to optimize the cash flow from different customers? As soon as that question is asked, companies have to delve into issues of relationships and think relationship management. They have to think about how to do business other than as a one-time product transaction or event sale. As soon as companies start asking these questions and wrestling with these issues, they are into CRM.”|
Deborah Ruriani December 2001
|“Companies would all like to have a family of billion-dollar drugs under the Christmas tree, but if they don’t they have to learn how to become excellent marketers with a portfolio of smaller brands,” says Chris Bogan, president and CEO of Best Practices LLC. Mr. Bogan maintains, however, that companies can not only survive without billion-dollar brands, but prosper, and he envisions two types of pharmaceutical models for the future.|