Pharmaceutical companies spend upwards of $1 million on their competitive intelligence activities every year, according to a new study published today by industry research firm Cutting Edge Information http://www.PharmaCompetitiveIntelligence.com.

While the mean competitive intelligence (CI) spending is approximately $334,000, more than one-third of the companies surveyed spend above the average, indicating moderate growth for a decision support function that has seen its ups and downs.

“Pharmaceutical CI groups have typically seen their organizational support rise and fall cyclically,” said Elio Evangelista, senior analyst at Cutting Edge Information. “Without long-term organizational buy-in and significant investment, competitive intelligence groups find it challenging to truly impact strategic decisions.”

Companies that back their competitive intelligence teams with strong budgets, adequate staff and senior leadership find success across the development and commercialization organization. CI’s strategic decision support impact can be felt from R&D and business development to marketing and sales.

Cutting Edge Information’s latest report, “Pharmaceutical Competitive Intelligence: Building Strategic Advantage,” available at http://www.PharmaCompetitiveIntelligence.com, is a comprehensive study featuring metrics and case studies from 18 top pharmaceutical and biotechnology companies. The report profiles competitive intelligence teams from Novartis, Wyeth, AstraZeneca, Sanofi-Aventis, Pfizer and Eli Lilly.

In the study, Cutting Edge Information focuses its research on the following core areas:
* Detailed, phase-by-phase competitive intelligence team budget and staffing levels
* Key CI activities and timelines
* The impact of centralized and decentralized organizational structures
* Competitive intelligence’s role across the commercialization organization
* Creating a competitive intelligence culture within the company

To download a free summary of this 129-page report, please visit http://www.PharmaCompetitiveIntelligence.com. For more information on “Pharmaceutical Competitive Intelligence: Building Strategic Advantage,” please call Oveda Slade at 919-403-6583 or e-mail info@cuttingedgeinfo.com.

 
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