Non-members: Click here to review a complimentary excerpt from "Pharmaceutical New Product Planning Excellence: Resources and Showing Value"
The pressure is always on for pharmaceutical and biotech companies to produce effective new products and to minimize development costs. The New Product Planning (NPP) function is heavily involved in many of the activities that create a picture of how (and if) the new product will fit in the competitive landscape. With many millions hanging in the balance, it's important for NPP teams to get it right. One of the key factors that influence a NPP team's effectiveness is the resources an organization puts into its NPP effort.
Best Practices, LLC undertook this benchmarking study to investigate how leading companies are resourcing their NPP programs, both in terms of budget and FTEs. The study also looks at what are the most valuable activities that NPP teams perform. Leaders involved with New Product Planning process can use this study to compare their NPP resource levels with peer organizations.
- The State of New Product Planning
- New Product Planning Resources
- New Product Planning Value And Impact
- New Product Planning Budget for Fiscal Year
- New Product Planning Budget as a Percentage of Revenues
- NPP Budget by Company Organizational Structure
- Percentage of NPP Budget Allotted for Medical Affairs, Brand Strategy, Market Planning, Market Research
- Total Number of FTEs Working in NPP group(s) Globally and in US
- NPP staff Size as Percentage of Total Company FTEs
- Three Most Valuable NPP Activities
- Three Ways to Optimize NPP groups' Contributions
SAMPLE KEY FINDINGS
- Global Teams Balance Budget Allocation to All Activities; Regional Predominantly Allocate to Market Research: Global NPP teams allocate 25% of NPP budget to market research, 24% to market planning, 23% to brand strategy and 21% to medical affairs. In contrast, 39% of the regional team budget goes into market research and 24% to medical affairs.
For this research project, Best Practices, LLC engaged 19 leaders from 15 leading pharmaceutical, biotech, and life sciences companies.