Market research budgets rise steadily as products move from Pre-Clinical activities through Phase IIIa until they finally reach their peak as products launch. Pharmaceutical companies allocate $1.9 million for market research support during the critical Launch phase, according to a new study from pharmaceutical intelligence firm Cutting Edge Information (www.PharmaMarketResearch.com).

On average, brand teams increase market research spending 110% over Phase IIIa numbers. The spending increase is important because market research data often helps develop the optimal sales message for the launching drug.

“Pharmaceutical Market Research: Decision Support for Brand Growth,” reveals that pharmaceutical brand teams rely on market research to help them shape product development, determine key product messages and even aid in go/no go decisions of whether a product is worth continuing development. Significant spending delivers impressive results.

Cutting Edge Information interviewed market research executives at top companies, such as AstraZeneca, Pfizer, Eli Lilly, Wyeth and Sanofi-Aventis prior to compiling its findings for “Pharmaceutical Market Research: Decision Support for Brand Growth” (www.PharmaMarketResearch.com). The report includes more than 250 metrics, including budget and staffing data to help market research functions build strong, successful teams.

“Overall market research spending has increased over the last two years,” said Elio Evangelista, senior research analyst at Cutting Edge Information. “Despite increased spending, though, many companies are still in the dark as to the best way to allocate their market research resources.”

“Pharmaceutical Market Research: Decision Support for Brand Growth” showcases the following key metrics:
* Market research budgets for pipeline and mature products
* Staffing support for developing and mature products
* Phase-by-phase market research spending and headcounts
* Comprehensive organizational structures
* Detailed activity timelines and breakdowns per development phase

To download a free summary of this report, please visit www.PharmaMarketResearch.com.  For more information on this report or to learn about other Cutting Edge Information research, contact Oveda Slade at oveda_slade@cuttingedgeinfo.com or 919-403-6583.

 
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