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Pharma Industry Stretching Every Dollar: New Study Finds Rise in Outsourcing of Key Support Functions
Date:9/9/2012

CHAPEL HILL, N.C., Sept. 9, 2012 /PRNewswire/ -- The pharmaceutical and biotech industries are reeling from the patent expirations of many blockbuster drugs and increased regulatory scrutiny.  As a result, many of the "support functions" within drug manufacturing organizations – such as Market Research and Business Intelligence groups – are under mounting pressure to cut costs and demonstrate value. 

Burdened with headcount constraints and new products to support, executives can potentially gain critical efficiencies through the shrewd use of outsourced personnel and system automation.

According to a brand-new study from Best Practices, LLC, 73% of companies are now using outsourced personnel for some facet of Market Research.

"Market Research Efficiency Benchmark: Using External Personnel and Automation to Maximize Effectiveness," a brand-new pharma-focused benchmark study enables Market Research and Business Intelligence professionals to identify strategies, solutions, and key transition processes underway in the life science industry - and help organizations cut costs without sacrificing Market Research performance.

The study is based on research and data provided by 22 pharmaceutical and biotech executives from 19 different companies.

Sample key findings from this critical new research include:

  • External Personnel Hired One at a Time, Not En Masse:  For any particular Market Research function (secondary analytics, report preparation, etc.), benchmarked companies mainly contract just a single FTE or contractor.  At both Midcaps and Large Pharma organizations, many interviewed executives reported being short on bandwidth internally, and contract long-term external labor to fill this need.
  • Use of Automation in Market Research on the Rise: A majority (63%) of market research groups hav
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SOURCE Best Practices, LLC
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