Pharmaceutical Consultants Key Terms

Know the terms you will find as you encounter pharmaceutical consultants

Pharmaceutical consultants assist pharmaceutical manufacturers with a wide variety of processes, from research and development to marketing and sales. They may offer specialized services in one area or a full range of consulting. In many cases, services can be customized depending on the needs and preferences of the organization. Pharmaceutical consultants can offer assistance with marketing, lifecycle management, brand management, drug development and business development. There are also firms that offer training on these topics.

 

Drug development

The drug development process refers to all the phases of producing a pharmaceutical, from basic and clinical research to compliance with drug standards. It can take more than 10 years to develop a new drug, and pharmaceutical consulting companies can help with the entire process or one aspect of it.
Try: Merck, Sharp & Dohme explains drug development in detail.

Business development

Business development refers to all the processes and tasks related to acquiring new customers. It includes assessing market opportunities, gathering intelligence on customers and competitors, generating leads and developing sales policies and presentations. Pharmaceutical consultants often provide these services.
Try: You will find more information on this topic at MindBranch.com.

Pharmaceutical marketing

Pharmaceutical marketing consists of all the activities related to advertising and promoting the sale of pharmaceuticals. Pharmaceutical consultants advise companies on the best way to market their products while maintaining ethical standards.
Try: PharmaLive has a guide to pharmaceutical marketing services

Brand management

Brand management is a type of marketing technique that is specific to a product or product line. The purpose of brand management is to increase the customer's awareness of, and preference for, a product when compared to a competitive product that is similar. Pharmaceutical consultants can help organizations develop greater brand awareness for their products.
Try: For a comprehensive discussion of this term, see the Campbell Alliance Group.

Product lifecycle management

Product lifecycle management is another process that pharmaceutical consultants offer to their clients. It refers to all the processes related to managing and communicating with customers and suppliers in the production, distribution and sale of products.
Try: Best Practices offers a summary of a study conducted on lifecycle management.

Good manufacturing practice (GMP)

Good manufacturing practice refers to the control and management of the manufacturing process of pharmaceutical products, from the initial discovery of the therapeutic agent through development. Some pharmaceutical consultants offer courses to their customers on GMP so their sales staff is knowledgeable about the requirements and regulations.
Try: Go to FDA for a complete overview of GMP.

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