CHAPEL HILL, N.C., April 13, 2013 /PRNewswire/ --Pharmaceutical companies in North America and Europe have recently been faced with two major concerns: clinical costs are continuing to rise and sales are either rising a little or not at all. In emerging markets, organizations are experiencing lower clinical costs and rapidly rising sales. Although mature markets still represent a majority of sales, it is clear that emerging markets offer significant cost savings and important future sales.
While there are many advantages that come along with expanding into these emerging markets, large countries like China and India are now requiring local clinical trials to win regulatory approvals to market products in those countries. Despite these obstacles, pharmaceutical organizations must evaluate the necessity of expanding their clinical programs into emerging markets in order to cut costs and boost sales.
In order to help biopharma organizations set a strategic direction for conducting clinical trial activities in emerging regions of the world, Best Practices, LLC conducted a primary research report. The report, Clinical Affairs Excellence: Benchmarking Clinical Trial Strategies for Pharmaceutical Success in a Global Marketplace, analyzes factors associated with outsourcing clinical trial activities - including cost, staffing, and quality - to help leadership evaluate the organization's approach to outsourcing relative to other market leaders.
Key study topics include:
- Pharmaceutical presence in emerging markets
- Evaluating resource levels
- Outsourcing for key clinical trials
- Benefits of clinical outsourcing
These research findings provide industry metrics and insights that can serve as a reference point for clinical leaders when formulating a strategic approach for engaging emerging regions in clinical affairs activities. The performance benchmark and field research harvested scores of insights and observations from seven clinical leaders at six pharmaceutical companies.
To review highlights of the full report, download a complimentary summary containing selected metrics and key findings, visit http://www.best-in-class.com/rr1212.htm.
For more information on this study or other recent primary research studies, contact us at 919.403.0251 or at bestpractices@best-in-class.com.
ABOUT BEST PRACTICES, LLC
Best Practices, LLC is a leading benchmarking, consulting and advisory services firm serving biopharmaceutical and medical device companies worldwide. Best Practices, LLC's clients include all the top 10 global healthcare companies. The firm conducts primary research and consulting using its comprehensive proprietary benchmarking tools and analysis. The operational insights, findings and analysis form the basis for our Benchmarking Reports, databases and advisory services to support executives in commercial and R&D operations. Best Practices, LLC believes in the profound principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class companies.
SOURCE Best Practices, LLC
