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Brand Management and Product Leadership » Public Relations
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Evolving industry and regulatory guidelines are redrawing the roles and activities of Professional and Trade Relations groups in biopharma and medical device organizations. Facing rapid changes in how their Professional and Trade Relations (PTR) groups interact with external organizations, biopharmaceutical organizations are under pressure to maintain their effectiveness while operating within current guidelines.
To help navigate this new external and internal environment, Best Practices, LLC conducted this study on Professional and Trade Relations management. The study explores PTR structure and resource issues such as preferred approaches to organizational structure, budget and staffing allocations for the PTR function, funding approaches for PTR groups, and funding trends.
Pharmaceutical executives also can use this research document to anticipate pitfalls and compare their existing structure and resourcing approaches with those at best-in-class companies.
The research employed a data gathering approach that reaps quantitative data from 26 professional and trade relation executives from 25 leading biopharma and medical device companies. In addition, six companies participated in in-depth interviews.