Our client engages in the research, development, manufacture, and marketing of pharmaceutical products. Our client was interested in establishing Medical Information and Communication (MIC) best practice standards based on similar functions in competitor pharmaceutical companies in order for their MIC team to optimize service for internal and external customers in China.
We benchmarked the MIC functions of top multinational pharmaceutical companies in China. Further, we developed industry-wide best practice guidelines that our client adopted as their firm’s MIC best practices.
We structured the study into three phases:
Phase 1: We compiled a list of multinational pharmaceutical companies in China and utilized market insight to identify the leading 5 players within the industry
Phase 2: We conducted extensive primary and secondary research on the MIC functions in each of the 5 companies, examining parameters such as business model, organizational structure, cost structure, staffing and training, and KPIs
Phase 3: We benchmarked the 5 competitor companies across these key parameters, allowing us to identify patterns and trends across MIC functions in the Chinese pharmaceutical space
Our comprehensive competitive intelligence highlighted industry best practices for MIC team structure and operations in China’s pharmaceutical space. Our client leveraged our market research to develop a robust strategy to make their MIC function more effective and to achieve better ROI.