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|  |  Achieving Market Success: Thought Leaders Drive Success from Early Stage to Post-LaunchPress Release November 10, 2005 CHAPEL HILL, N.C., Nov. 10 /PRNewswire/ -- Thought leaders play a critical role in shaping the market success of a drug. In Lipitor's case, their articulation of the unmet medical need launched it into the best selling medicine in history. Because of key opinion leaders' critical influence in shaping clinical studies and launch products, understanding crucial lifecycle issues and anticipating competitor moves, leading pharmaceutical and biotech companies must develop and maintain strong relationships with them. To enable executives to successfully and innovatively manage relationships with key option leaders while avoiding potential missteps, Best Practices, LLC details insights from top companies in its benchmarking report Thought Leader Relationships: Building the Business (complimentary study excerpt available at http://www3.best-in-class.com/rr627.htm). Sample findings from the report include: * A leading company employs a formal strategy to balance the number of trials for products in development. If one drug has 10 trial programs underway and a second one has 30, field-based medical specialists work to get additional trial sites for the first product before giving resources to the second product. This strategy ensures that every product has enough resources to provide the economic and medical information required in achieving market success. * Another company starts its field-based medical program at the local and regional levels as it is simpler and less expensive than a nationally coordinated effort. A gradual deployment also helped the field-based medical program avoid large mistakes that could potentially drain a budget and negatively impact thought leader relationships. * A third benchmark company curbs the skyrocketing costs of clinical trials through careful use of its thought leader relationships. Field- based medical specialists and market researchers seek their input during clinical trials. Key opinion leaders also recommend good candidates to fill additional spots in the clinical trial roster who may be high prescribers, up-and-coming thought leaders or previously unidentified thought leaders. Through this approach, the field-based medical team may fill the clinical trial's needs. If not, specialists can ask chosen physicians which institutions are good targets and also which messages are most effective in convincing physicians to join clinical trials. This report focuses on the following aspects of thought leader relationship management: * Aligning Field-Based Medical Programs with Overall Objectives * Managing Performance * Providing Support and Communication * Setting and Measuring Clear Goals Benchmarked companies include: AstraZeneca, GlaxoSmithKline, Merck, Pfizer and Schering-Plough. Download a complimentary excerpt highlighting report contents and including best practices, at http://www3.best-in-class.com/rr627.htm. For more information, contact Dexter Beals at (919) 767-9229 or dbeals@best-in-class.com. 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 companies. For more information, call (919) 403-0251 or visit http://www.best-in-class.com/. -------------------------------------------------------------------------------- Source: Best Practices, LLC
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