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Best Practice Database
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The pharmaceutical and medical device industries rely on advisory boards to provide non-binding but informed guidance on various marketing, clinical, payer and physician related issues that affect their operations. Organizations need to structure their use of advisory boards in a way that ensures they are utilizing the full range of advisory board types to inform their operations. Companies also need to make sure they are recruiting the right board members, using an appropriate meeting format and spending the right amount of time in preparation of the meetings.
Best Practices, LLC undertook this study to identify structure and operational benchmarks around the use of advisory boards in the pharma and device sectors. In particular, the study examines preferences around the types of boards, size of boards, types of format, meeting length and other structural and operational issues associated with advisory boards. Leaders who work with advisory boards can use this study to compare their company's approach with that of peer organizations.
NOTE: Segmentation analysis was key to examining trends and effective practices. This study captures insights from two segments: Total Benchmark Class and Mid-Sized Companies Segment.
This study engaged 35 executives from 29 leading life sciences companies. Segmentation analysis was key to examining trends and effective practices. Twelve participants from nine companies comprise the Mid-sized Company Segment
Health Care; Medical Device; Pharmaceutical; Biotech; Biopharmaceutical; Consumer Products; Diagnostic; Academic; Research; Consulting; Education; Science; Clinical Research; Laboratories
Abbott Nutrition; Articulate Labs; Abbvie; Acorda Therapeutics; AstraZeneca; Avanir; Bayer Healthcare; Biogen Idec; Boehringer Ingelheim; B. Braun; Catalent Pharma Solutions; cipla; Covidien; Duke University and Health System; Haemonetics Corporation; Lupin; MD Outlook; Medicines Differentiation Analytics; Medunik Canada; Novo Nordisk; PharMedium; Poxel; Purdue Pharma; Reliance Institute of Life Sciences; Sanofi; Teva Pharmaceutical Industries Ltd; UCB Pharma; Uroplasty; Xenoport