Benchmarks for the Pharmaceutical Market Research Function.

CHAPEL HILL, N.C. -- More than 85 percent 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 percent spend three-fifths of their time on strategic market research and the rest on tactical research, according to the same study.

This research is profiled in a white paper available at http://www3.best-in-class.com/br35.htm .

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

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

--These Market Research departments tend to be independent organizations, centralized within companies, but departmental focus varies.

--Departments with a worldwide Market Research focus are independent of their international affiliates when making key decisions on budget, business plans, etc.

Best Practices, LLC surveyed market research executives at leading pharmaceutical companies, such as 3M Pharmaceuticals, Abbott Laboratories, AstraZeneca and Eli Lilly, to collect benchmark metrics on staffing, budgeting and structuring successful market research organizations.

The report also describes best practices employed by top pharmaceutical companies including:

--Centralization preferences;

--Worldwide vs. U.S. research focus;

--Annual budgets and funding sources;

--Impact of international affiliates on purchase decisions;

--Line of organization.

Download a free white paper profiling this study online at http://www3.best-in-class.com/br35.htm .

The Business Excellence Board (BEB) is a membership-based benchmarking, research and advisory service of Best Practices, LLC. BEB members receive personalized, on-demand research that helps maintain industry competitiveness. Membership benefits include: quick turnaround research, access to benchmark research reports, quarterly trend watch updates, on site presentations, and ongoing access to industry analysts. Contact David Burton at [e-mail] or 919-403-0251 ext.259 for more information.

ABOUT BEST PRACTICES, LLC

Best Practices, LLC is a research and consulting firm that conducts work based on the principle that organizations can chart a course to superior economic performance by studying the best business practices, operating tactics and winning strategies of world-class organizations.