Endowment Guide

Global Pharmaceutical Firms Will Spend an Average of $20 Million on Information Services in 2004, Outsell Study Reveals

Growth projected to continue, finds the most comprehensive study of information functions in the world's largest pharmaceutical companies

BURLINGAME, Calif.--(BUSINESS WIRE)--May 3, 2004--

Outsell, Inc., the only research and advisory firm that focuses exclusively on the Information Content (IC) Industry, today announced the results of a study on information use within the world's largest pharmaceutical companies. Information management functions in the top global pharmaceutical companies are projected to spend an average of $20 million on information services in 2004. Information budgets comprise external content, software, and staffing components. Between 2001 and 2003, total budgets increased 7 percent, and they are expected to increase another 5 percent in 2004.
"While information management budgets are increasing only marginally, pharmaceutical companies are deploying information content to proportionally larger user populations," said Mary Corcoran, Outsell Vice President and Lead Analyst. "An increasing focus on global content under global vendor agreements, self-serve portals, and virtual information delivery means budgets are optimized like never before. Smart information managers at pharmaceutical companies are successfully adopting both/and models: self-serve information access and supported information retrieval as well as digital information sources and physical libraries."

As the third benchmark study that Outsell has conducted on one of the most voracious content consuming industries, Pharmaceutical Information Services 2003 is the most comprehensive study of benchmarks and best practices among information functions in the world's largest pharmaceutical companies. The study answers key questions and explores critical issues such as budgets and spending patterns, information organization structure, user-base demographics, services offered, trends toward digital libraries, performance measurement, and the globalization of content purchasing. For information professionals in the pharmaceutical industry, it is the only comprehensive benchmark of valuable metrics around information functions in industry peer organizations. For commercial content vendors, the report provides an essential view into one of the biggest information markets in the world.

Methodology

This 157-page report is based on the findings of Outsell's Pharmaceutical Industry Benchmark Service, a multi-client research process that collects information from the largest global pharmaceutical companies on the nature of their information services and functions. The report shares findings from 12 pharmaceutical organizations (92% in the top 25 for 2002 worldwide pharmaceutical sales) that provided data on their information functions and services. To gather the benchmark data, Outsell employed a combination of qualitative and quantitative primary research techniques and used a team approach for creating the survey instrument, conducting interviews, and analyzing the collected data.

Availability

Pharmaceutical Information Services 2003 is available for purchase by contacting Outsell at 650-342-6060 or info@outsellinc.com.

About Outsell

Founded in 1994, Outsell is the only research and advisory firm that focuses exclusively on the Information Content (IC) Industry. Delivering high-quality, fact-based research, analysis, and advice, Outsell helps world-class content vendors, Global 2000 companies, government agencies, and leading educational institutions increase their understanding of users and end-markets, assess content quality and effectiveness, benchmark operations, hire and retain executives, and develop more successful internal and commercial content products and services.

Outsell is headquartered at 330 Primrose Road, Suite 510, Burlingame, CA 94010. Phone 650-342-6060, fax 650-342-7135, and on the Web at www.outsellinc.com.

Contacts


Outsell, Inc.
David Curle, 612-824-1982

[ Comment, Edit or Article Submission ]