Medical Affairs Consortium: Impact Measures, Globalization & Compliance
On November 6, 2014 Best Practices, LLC hosted the 1st roundtable of the 2014-2015 Medical Affairs’ Consortium. The roundtable brought together leaders from: Baxter, Crescendo, Eli Lilly, Genentech, Incyte Corporation, Jazz Pharmaceuticals, Pfizer, Santen Inc., Teva, and Upsher-Smith. Leaders from these organizations came together to discuss Medical Affairs’ impact measures, globalization and compliance.
The virtual conference took place between 11 a.m. and 12:30 p.m. (Eastern Standard Time), and examined:
- Delivering Value through Medical Affairs Activities
- Effective Communication Channels for Medical Affairs Activities
- Managing Globalization and Overcome Local Challenges
- Creating a Strong Compliance Strategy
Some key findings from the discussion included:
- Competition for Thought Leader Access: Medical Affairs activities have grown in importance by 10-40% within the last five years. While the importance of thought leader activities increases, government institutions have created limits on thought leader access with strict regulations. As a result, today there is more competition for thought leaders’ time and communicating important scientific information to them.
- Managing Globalization: While benchmarked companies have a very similar approach to global reporting of some activities, we observed important differences in some others. Most agreed on how to report MSL and Thought Leader Management-related activities. However, smaller organizations either don’t have global reporting, or they have a more bottom-up reporting focus for other activities.
- Overcoming Compliance Challenges: Regional differences play a significant role in compliance standards. For 60% of the benchmark class, regions develop their own compliance standards that are aligned with global compliance rules. Only 13% of the benchmark class participants have regions developing compliance standards completely independently.
The 2nd Roundtable gathering for the 2014-2015 Medical Affairs Consortium will be in February 2015. Stay tuned for more valuable key findings.
To learn more about Medical Affairs Consortium, click on the following link: http://www.best-in-class.com/medical-affairs-consortium