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Pharmaceutical Budget and Staffing: Powerful New Metrics-Based Study

Friday, February 8, 2008 General News
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CHAPEL HILL, N.C., Feb. 7 Falling stock prices, devaluingdollar, soaring gas prices, and the slumping real estate market are just a fewof the symptoms of the recession hitting the U.S. economy. While a recessionwill impact all industries, it may have a deeper impact on pharma and biotechcompanies as they have already been dealing with increasing pricing andregulatory pressures and decreasing numbers of newly approved therapies.Given the current environment, it is imperative for companies to maintain theappropriate mix of budgets and staffing to meet corporate objectives.
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The current report, U.S. Pharmaceutical Budget and Staffing Excellence:Benchmarking the Resources Required to Drive Productivity and Growth, can bean invaluable resource allowing pharmaceutical and biotech executives tocritically assess key business functions and resources against thirty-six toppharma and biotech companies. The rich metrics contained in thiscomprehensive report emanate from survey responses from staffing executives atsuch elite pharmaceutical and biotech companies as Abbott Labs, AstraZeneca,Bristol-Myers Squibb, J&J, Eli Lilly GlaxoSmithKline, Merck, Novartis, Pfizer,Roche and Sanofi-Aventis.
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To download a free excerpt of U.S. Pharmaceutical Budget and StaffingExcellence visit http://www3.best-in-class.com/rr827.htm. For moreinformation, contact Cameron Tew at (919) 767-9246 or [email protected].

BEST PRACTICES, LLC is a benchmarking and consulting firm that conductswork based on the principle that organizations can chart a course to superioreconomic performance by studying the best business practices, operatingtactics and winning strategies of world-class companies. For more information,call (919) 403-0251 or visit www.best-in-class.com.Executive insight across seven critical functional areas, including: * Marketing Operations * Marketing Services * Sales Support * Managed Care * State & Government Affairs * Finance * Legal and Compliance Sampling of the key findings harnessed from the report include: * Marketing Services groups support an average of 7.8 brands with 6.7 FTEs allocated per brand promoted * Sales Support groups allocate approximately $460,000, including labor, overhead and outsourcing, per sales support FTE * Managed Care groups report an average of 18 FTEs allocated to Customer Marketing Strategy * Finance budgets as a percentage of sales average 1.33% * Legal and Compliance groups indicate an average spend of $199,702 per FTE

SOURCE Best Practices, LLC
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