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New York City, NY— (March 28, 2006) More emerging pharma companies are choosing to increase the value of their assets via commercialization through a variety of means, including licensing, co-promotion, or going-it-alone. The benefits and risks of each option were examined by the industry’s leading CEOs and scientists, as well as graduate and doctoral students, at a recently held interactive roundtable discussion led by Carl Sailer, Vice President of Marketing and Business Development at PDI, Inc., The discussion was sponsored by Windhover Information—Pharmaceutical Strategic Outlook (PSO) Conference at the Grand Hyatt, NY.
Participants explored options to best leverage core competencies to maximize product performance and return on investment. Sailer began by examining the benefits associated with “going-it-alone,” including increasing investor confidence and generating opportunities to pursue other deals such as co-promoting and co-marketing, as well as the risks such as absorbing commercial and developmental costs.
Several questions served as a background for discussion:
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What are my objectives for commercialization?
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How do I decide between entering into a service-provider partnership and going-it-alone?
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If I decide to outsource, what are my short- and long-term partnership goals?
Pre-Phase III Decisions
The group arrived at a consensus that co-sponsorship should be established before the launch of phase III studies to allow the partner full participation, especially for ex-US partners. Many decisions with foreign partners are made mid- to late-phase III, crippling the chances of a simultaneous launch.
The group also examined the need to employ high quality representatives who can be managed across borders and who are provided training through a central system. Deciding which products can be promoted by going-it-alone or co-promoting was another concern, since it was determined that every investment must first prove that it can stand alone yet have a notable presence in the market.
PDI’s participation in the conference further demonstrated the growing need for outsourced solutions among emerging companies. This is consistent with PDI’s mission to fully support emerging companies through the entire commercialization process with sales force infrastructure, medical education, and marketing research solutions.
For more information about PDI’s Performance Sales Teams, visit www.PerformanceSalesTeams.com.
For more information contact:
Stephen P. Cotugno
Executive Vice President-Corporate Development
PDI, Inc.
201-574-8617
About PDI
PDI, Inc. (NASDAQ: PDII) is a diversified sales and marketing services provider to the biopharmaceutical industry. PDI's comprehensive set of outsourced sales and marketing solutions is designed to increase its clients' strategic flexibility and enhance their efficiency and profitability. Headquartered in Saddle River, NJ, PDI also has offices in Pennsylvania and Illinois.
PDI's sales and marketing services include our Performance Sales Teams™, which are dedicated teams for specific clients; and Select Access™, our targeted sales solution that leverages an existing infrastructure; marketing research and consulting; and medical education and communications. The company's experience extends across multiple therapeutic categories and includes office and hospital-based initiatives.
PDI's commitment is to deliver innovative solutions, unparalleled execution and superior results for its clients. Through strategic partnership and client-driven innovation, PDI maintains some of the longest standing sales and marketing relationships in the industry. Recognized as an industry pioneer, PDI remains committed to continued innovation.
For more information, visit the Company's website at www.pdi-inc.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and financial performance. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond PDI's control.
Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, changes in our operating expenses, adverse patent rulings, FDA, legal or accounting developments, competitive pressures, failure to meet performance benchmarks in significant contracts, changes in customer and market requirements and standards, the impact of
any stock repurchase programs, and the risk factors detailed from time to time in PDI's periodic filings with the Securities and Exchange Commission, including without limitation, PDI's Annual Report on Form 10-K for the year ended December 31, 2004, and PDI's periodic reports on Form 8-K filed with the Securities and Exchange Commission since January 1, 2005. The forward looking-statements in this press release are based upon
management's reasonable belief as of the date hereof. PDI undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
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