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New Brunswick, NJ— (April 5, 2006) A panel of industry experts gathered at SRI’s 4th Annual Pharmaceutical Marketing & Sales Global Summit to share experiences with co-promotion and co-marketing so that their audience might better leverage efforts to gain a competitive advantage in the marketplace. The panel consisted of: Karen Fender, Vice President of TVG, a division of PDI, Inc.; Tom Joyce, Vice President, Marketing & National Accounts, Santarus, Inc.; Amy Marta, Principal, ZS Associates; Richard McCloud, Senior Manager of Market Analytics, Pfizer, Inc.; and chaired by, Wei-Li Shao, Brand Manager, US Endocrinology/Urology, Eli Lilly & Company.
For many the only path to commercialization is to partner. According to the group, there are many reasons this is so, such as: minimizing financial risk, providing entrance to a market for a company without the expertise to do so otherwise, obtaining technical or marketing competency, obtaining product to fill holes in the pipeline, and securing the necessary field power to reach key physicians. Yet, despite these compelling reasons, there are tremendous risks in a partnership agreement, and only one chance to launch a product.
A sound operational fit is key to a successful partnership. General rules of engagement should be established, and both partners should participate in team building activities to optimize their results. Some companies are successful because they develop a sub-culture for their partnership team, where this new core team can defend the partnership through both companies. Issues such as pre-approved vendor lists and audits to be utilized cam also lend to the fray.
In almost all cases, the most successful partnerships are those that are split 51/49 and clearly state who makes decisions. There are many configurations of reporting structures that can work within this arrangement, however, in no situation should one partner have all the power and the other simply perform as a contract sales force.
This panel discussion was an excellent opportunity for attendees to learn first hand how to avoid some of the risks inherent in any partnership, and how to optimize participation to the betterment of both partners. PDI's involvement underscores their commitment to sharing their expertise in market dynamics and changing sales force structures for the betterment of the biopharmaceutical community.
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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