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Market Analysis

Most pharma companies devote half of research to strategic opportunities

Published in Drug Week, October 8th, 2004

More than 85% of pharmaceutical companies devote at least half of their market research to strategic opportunities, according to a new benchmark study by consulting firm Best Practices, LLC.

Almost 60% spend three-fifths of their time on strategic market research and the rest on tactical research, according to the same study.

The study, conducted on behalf of members of Best Practices, LLC's Business Excellence Board, found that:

1) Best-in-class Market Research Departments are structured by therapeutic support area and typically have budgets of $10-$25million.

2) These Market Research departments tend to be...

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