Cognet-X, Inc.: Relationship-building Drives Pharmaceutical Company Promotion to Key Managed Care Executives.Business Editors/Health & Medical Writers FEASTERVILLE, Pa.--(BW HealthWire)--Feb. 14, 2002 While product-specific promotion is still important, discussions of strategic partnering and relationship building are beginning to drive pharmaceutical company promotion to managed care pharmacy pharmacy, art of compounding and dispensing drugs and medication. The term is also applied to an establishment used for such purposes. Until modern times medication was prepared and dispensed by the physician himself. In the 18th cent. directors, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Cognet-X, Inc. Full-year 2001 data from Cognet-X's PAR-Rx (Promotional Assessment Research) Report(TM) indicate that non-product-specific promotion often surpassed contacts linked to a specific brand. The PAR-Rx Report tracks promotion to the most influential pharmacy directors in the managed care marketplace. In the fourth quarter alone, eight of the top 10 corporations allocated between 10% and 30% of their contacts for non-product-specific discussions. PAR-Rx panelists tell Cognet-X that these elite corporations offer proposals for and seek out opportunities to build partnerships with key managed care customers. GlaxoSmithKline is a prime example of this trend. According to PAR-Rx data, GlaxoSmithKline generated the most promotional contacts to key managed care pharmacy directors during 2001, its first full year post-merger. In the fourth quarter, 20% of the company's contacts to PAR-Rx panelists focused on non-product-specific contacts. "Our rapport The former name of device management software from Wyse Technology, San Jose, CA (www.wyse.com) that is designed to centrally control up to 100,000+ devices, including Wyse thin clients (see Winterm), Palm, PocketPC and other mobile devices. with this company is good; [GlaxoSmithKline] has products we believe in [and] they are willing to partner with us on community based projects," one Par-Rx panelist pan·el·ist n. A member of a panel. Noun 1. panelist - a member of a panel panellist panel - a group of people gathered for a special purpose as to plan or discuss an issue or judge a contest etc recently told Cognet-X. "Working together on outcomes analysis to share data and to begin participation in prospective, randomized clinical trial randomized clinical trial, n a clinical study where volunteer participants with comparable characteristics are randomly assigned to different test groups to compare the efficacy of therapies. ," another pharmacy director noted, following a GlaxoSmithKline meeting. During three of the four quarters in 2001, GlaxoSmithKline also generated more contacts to PAR-Rx panelists than did any other corporation. In the fourth quarter, the company finished second behind Novartis Pharmaceuticals Corp. Ten percent of Novartis' fourth-quarter contacts were non-product specific. "They support our team meetings and staff development," one pharmacy executive noted. "Offered [us] unrestrictive support, the best pull-through pull-through a surgical technique for abdominoperineal resection of the rectum. After removal of a segment, the rectum is sutured to the perineal skin, forming a new mucocutaneous junction. Used in the treatment of rectal neoplasms and anal furunculosis. programs and willingness to work together," explained another. The partnership-building trend clearly extends beyond newly merged corporations like GlaxoSmithKline or firms like Novartis that have a long history of collaborating with managed care customers. Abbott Laboratories Abbott Laboratories (NYSE: ABT) is a diversified pharmaceuticals and health care company. It has over 65,000 employees and operates in 130 countries. The corporate headquarters are in Abbott Park, Illinois, a neighborhood of North Chicago, Illinois. , AstraZeneca PLC, Aventis Pharma AG and Pfizer Inc.--all top-10 corporations in terms of total fourth-quarter promotion--each spent more than 20% of their fourth-quarter contacts discussing non-product-specific issues, Cognet-X analysis indicates. Pfizer "provided partnerships for community" and has been "supportive in new formulary formulary /for·mu·lary/ (for´mu-lar?e) a collection of recipes, formulas, and prescriptions. National Formulary see under N. for·mu·lar·y n. additions and drug information," one panelist noted. Said another, "Pfizer is willing to help in all areas of my plan to make [it] better and [to help us] continue to grow." About the PAR-Rx Report Cognet-X's PAR-Rx Report is a year-round service that provides the pharmaceutical industry with real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. , Internet-based competitive intelligence on pharmaceutical company promotion to influential managed care pharmacy directors. The Report offers Cognet-X clients the ability to evaluate and analyze variable differences that are critically important to their decision-making process. The Report collects comprehensive data that can be segmented and analyzed an·a·lyze tr.v. an·a·lyzed, an·a·lyz·ing, an·a·lyz·es 1. To examine methodically by separating into parts and studying their interrelations. 2. Chemistry To make a chemical analysis of. 3. to provide clients with "21st-Century solutions to their 21st-Century challenges." About Cognet-X Cognet-X offers the pharmaceutical industry market research, consulting and software development that help companies build and refine their relationships with numerous customer bases, including the managed care community. Based in Bucks County, Pennsylvania Bucks County is a county located in the U.S. state of Pennsylvania. As of 2000, the population was 597,635. A 2004 U.S. Census estimate placed the population at 621,342, making it the fourth most populous county in Pennsylvania, after Philadelphia, Allegheny, and Montgomery , Cognet-X is privately held and employee owned. For more information on the PAR-Rx Report or other valuable Cognet-X products, please contact Robert E. Houghton (extension 101) at 215/396-8300 or via e-mail at robh@cognetx.com. |
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