New study includes detailed, country-level budget benchmarks for MSL teams.
Global MSL Team Budgets Top $30 Million, Finds Cutting Edge Information
<0> Cutting Edge InformationElio Evangelista, 919-403-6583 </0>
A newly published benchmarking study found that pharmaceutical companies spend upwards of $30 million on their global medical science liaison (MSL) operations.
Not all companies have the resources to dedicate tens of millions of dollars to their MSL operations. Small pharmaceutical and biotechnology companies, for example, allocate an average $1.5 million for their . But those companies are less likely to have MSLs staffed around the world. Mid-sized drug companies spend an average $10 million on their global MSL teams. It’s really the largest – or Top 20 – pharmaceutical firms that have the resources to spend $30 million or more on their MSL operations.
The study, “Managing MSLs in a Global Medical Organization: Budget, Staffing and Compensation Benchmarks”examined more than three dozen drug and device companies’ MSL operations around the world. It found that Top 20 pharmaceutical companies spend between $10 million and $48 million to deploy MSLs in the US, Europe and Asia, primarily.
“The largest companies, where US teams have been in existence for many years, spend five to ten times more in that market than in any other,” said Elio Evangelista, Director of Operations at Cutting Edge Information. “The divide between US and ex-US spending is lower among smaller companies, which have been building their more recently.”
MSLs are medically trained company representatives who work with physicians and medical researchers to advance . MSL groups range in size, which affects companies’ global MSL budgets. Cutting Edge Information’s study found a high level of consistency in the amount spent per MSL, both by company types and by geographic region. The overall team budgets, however, vary widely depending on the country and the company’s size.
“Managing MSLs in a Global Medical Organization: Budget, Staffing and Compensation Benchmarks”() includes detailed data on budgets, staffing, structures and compensation packages for MSL teams located in the US, Europe, Asia and Latin America. The study is designed to help MSL managers and medical affairs organizations:
For more information about MSL teams, contact Elio Evangelista at 919-403-6583.