Benchmarking Ad Board Management at Large Pharmaceutical Organization

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Benchmarking Advisory Board Management At Large
Pharmaceutical Medical Device Organizations
Strategic Benchmarking Research
Analysis www.best-in-class.com
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Table of Contents

• Executive Summary pgs. 3-8
• Research Overview pg. 3
• Participating Companies
  pg. 4
• Key Recommendations pg. 5
• Segments and Abbreviations pg. 6
• Key Findings and Insights pgs. 7-14
• Structure Of Advisory Boards pgs. 15-23
  
• Selection of Advisory Board Participants pgs.
  24-32
• Operations Of Advisory Boards pgs. 33-46
• Cost Of Advisory Boards pgs. 47-53
• Challenges and Best Practices pgs. 54-60
• Benchmark Profile
  pgs. 61-64
• About Best Practices, LLC pg. 65-66

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Research Objectives Methodology
A well-run advisory board requires optimum
investment in resources and operations. To
maximize the return on investment, life science
professionals must ensure that the quality of
meetings and dialogue with the board is
excellent. This research can help pharmaceutical
and medical device executives to best run and
organize advisory boards.

• Research Objectives
• Best Structure for Various Types of Advisory
  Boards
• Selection of Advisory Board Participants
• Benchmarking Operations Of Advisory Boards
• Cost Of Conducting Advisory Boards
• Top Challenges and Best Practices Of Conducting
  Advisory Boards

Business Objectives

• Field Research Insight Development
• Thirty-five survey responses from Medical
  Affairs, Marketing and Patient Advocacy leaders
  at 29 biopharmaceutical and Medical Device
  companies. This reports captures insights across
  Large, Mid-Size and Small companies.
• Additional deep-dive interviews with 7 selected
  executives who participated in the study.

• Identify Critical Benchmarks for advisory board
  Operations
• Provide Cost Benchmarks for Running advisory
  boards

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Universe of Learning Research Participants from
Study
This study engaged 35 executives from 29 leading
life sciences companies. Segmentation analysis
was key to examining trends and effective
practices. Thirteen participants at 9 companies
comprise the Large Company Segment (annual
revenues greater than 10 Billion USD). Most
responses came from the United States and Canada
(63) followed by Asia (20).
Benchmark Class
Large Companies Segment
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Segments and Abbreviations

• Segments
• TBC Total Benchmark Class
• Large Companies Segment (LC) LC is defined as
  companies with gt10B annual revenue.

• Abbreviations
• TBC Total Benchmark Class
• LC Large Companies

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Key Findings Insights Structure Of Advisory
Boards
The following key findings and insights emerged
from this study.

• Physician Clinical Advisory Boards Most Common
  Six out of 10 benchmarked companies maintain
  physician and clinical advisory boards.
• Segments Large Companies utilize all the types
  of advisory boards studied in this research.
  Sixty-two percent of large companies have
  physician advisory boards and 69 have clinical
  advisory boards. Half of large companies also
  host marketing advisory boards.
• Number of Participants Range From 9-11 Across
  Different Advisory Boards Payer and clinical
  advisory boards average around 9 participants
  while marketing advisory board participants
  average at 11 and physician advisory boards at
  10.
• Segment Large companies have a similar number of
  advisory board participants as the total
  benchmark class.
• National Participants Preferred for Advisory
  Boards A majority of companies prefer
  participants with a national reach for clinical
  and payer advisory boards. Almost half of
  benchmarked companies prefer national
  participants for marketing advisory board while
  30 prefer regional participants. Similarly, for
  physician advisory boards 48 of companies like
  national member, while more than a third prefer a
  mix of both national and regional participants.
• Large Companies Prefer National Participants for
  Physician Advisory Boards Unlike some
  benchmarked companies, 56 of large companies
  prefer national participants as a part of their
  physician advisory boards while 33 like a mix of
  both national and regional.

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Key Findings Insights Structure Of Advisory
Boards
The following key findings and insights emerged
from this study.

• Top Challenges The top three challenges that
  study participants face when conducting advisory
  board meetings are selecting members/location(45)
  , managing advisory boards (36), physician
  availability (36).

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Large Companies Are More Inclined to Implement
Advisory Boards Across Various Perspectives
Compared to small and mid-cap pharma companies,
large companies host a greater variety of
advisory boards. All companies are more inclined
to have physician or clinical advisory boards,
but even large pharma companies do not always
organize and conduct marketing or payer advisory
boards as part of their organizational strategy.
Type of Advisory Board Used
N35
N13
Others Patient Scientific Advisory Board ad hoc
only
Q. Please indicate the advisory board(s) that
currently has a presence in your organization.
Respondents
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National Participants and Reach Favored for Most
Advisory Boards
Companies continue to seek out national
participants or create advisory boards with a
national reach, as opposed to a regional reach.
That said, regional participants can be important
for both physician and payer advisory boards as
companies will explore regional regulations and
differences that can influence how a drug is
presented in a specific geography
Reach of Participants
Total Benchmark Class
N14-26
Large Companies
N5-9
Q, Please indicate the preferred reach of
advisory board members.
Respondents
10
Clinical Advisory Boards At Large Companies Last
Longer Than Marketing or Physician Advisory Boards
Physician and marketing advisory board meetings
at large companies tend to be for lesser duration
as compared to TBC companies. Large companies
typically conduct physician advisory boards take
around 7 hours while marketing advisory board
meeting take around 6 hours. In contrast,
clinical advisory boards take about 9 hours at
large companies.
Limited data for payer advisory board, thus not
shared.
Q. Please indicate the preferred duration (in
hours) for each advisory board meeting.
N8-17
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Benchmark Research Captures Insights Mainly From
U.S., Asia Europe
The vast majority of insights (approximately 63
) in this benchmark study come from bio-pharma
professionals serving the United States market.
Study insights were also contributed from
bio-pharma leaders working in Asian, European,
Middle East Australian markets.
Geography
US Canada 63
Europe 11
Asia 20
Middle East 3
Australia 3
Q. What region are you responding for?
N35
Respondents
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Insights Harvested from Organizations
Representing Different Industries
Participation came from across various industries
in each segments. Overall 71 of companies
represented pharma industry while around 20 were
from bio-tech and medical devices each.
Industry
Others Nutrition Service provider
N35
Q. Please indicate your industry. Choose all
that apply.
Respondents
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Learn More About Our Company
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practice benchmarking. We are a research,
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can chart a course to superior economic
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practices, operating tactics and winning
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