Pharmaceutical Consultants - An Invaluable Asset in a Rapidly Changing Industry

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Pharmaceutical Consultants - An Invaluable Asset in a Rapidly Changing Industry Powered By Docstoc
					When market conditions, methods of manufacture and testing, and technology remain
virtually unchanged for long periods, companies in an industry can generally manage
quite well doing everything in-house. But when an industry finds itself in the throes of
rapid and unexpected change, outside experts can often provide the knowledge and
expertise necessary for corporate survival. And so it is in our industry where the value
of pharmaceutical consultants is becoming undeniable. In a ten-year-old article titled
"Industry Focused: Pharmaceutical Consultancy" (Science, 17 November 2000), Tim
Peakman offered some observations that are more to the point now than they were
then. He wrote: "The pharmaceutical industry has undergone radical changes in the
last 15 years. It has trimmed the fat and become more efficient, but in the next 2 to 5
years [which time we've now passed] the way it operates is going to alter
fundamentally. Change is being driven from all sides, particularly through the impact
of new technologies across the whole discovery and development process and from
changes in the way that health care is funded and delivered."
  The changes Peakman spoke of have progressed even further, and there are others
even more radical than those he had in mind in 2000. Growing FDA intrusion and
compliance burdens, a dwindling number of blockbuster drugs and looming patent
expirations, slowing growth in the market and shrinking profit margins, imminent
novel healthcare reforms and increasingly heavy-handed government intervention,
rapid technological advances and a growing number of combination products—all
these are happening now or are on the near horizon. So the role of pharmaceutical
consultants is expanding in scope and, at the same time, narrowing by dint of needed
specialization.
  In the past, according to Peakman, pharmaceutical companies, for the most part,
used general consultants for large business-wide endeavors like "cost reduction
exercises or mergers and acquisitions." "But now," he explained, "the pervading
beliefs about consultants [that they don't really know much about the pharmaceutical
industry or the science involved] are being overtaken by a recognition that using
outsiders with specialist knowledge can have its advantages when dealing with the
massive changes the industry is facing. Whilst there is still a need for what might be
termed generalists in consultancy, more and more consulting organizations are
arranging themselves into industry-specialised groups."
  This means, then, that when a drug company turns to a pharmaceutical consulting
firm to bolster profitability and hone its competitive edge, the consultants called upon
need to have knowledge and expertise that are both broad and deep. Perhaps even
more important, good consultants can serve in sort of "prophetic" capacity—spotting
and keeping abreast of incipient trends in a rapidly changing industry, preparing
companies to remain competitive when the trends are in full swing, and thus applying
a preventive medicine.
  Quality pharmaceutical consultants, then, can prove to be an invaluable asset. They
provide the necessary analytic consulting support that enables clients, with whom
relationships are formed, to manage costs, improve business performance, and
enhance the quality of pharmaceutical products. Consultants with industry-specific
experience can also provide solutions for the manifold certification and approval
processes required by the government and other official entities for healthcare
products and services.
  Smart Consulting Group operates on the understanding that the client-consultant
relationship is a partnership that promotes finding the best solutions to achieve the
desired business objectives. That's why, with Smart Consulting, "you will have access
to a team of professional full-time and associate pharmaceutical consultants who
possess the expertise to help you in any industry-related challenge."
  The market has demanded life sciences consulting, pharmaceutical
consultant,pharmaceutical consultants are joining forces to make them happen.If you
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