RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--The highest spending on Medical Science Liaisons (MSLs) occurs in the top markets, with $11.6 million spent on MSLs in the United States, according to a new study published by Cutting Edge Information.
“The lower levels of wealth in these countries are outweighed by the vast untapped market of citizens in need of advanced healthcare”
The study, “Managing Medical Science Liaison Teams: Budget, Staffing and Compensation Benchmarks,” shows that the MSL budget in the US is far ahead of the next highest budget in Japan at roughly $3.2 million. Total budgets for MSLs in countries outside the US ranged from $110,000 to $3.2 million in most markets. However, new and upcoming regulations in Germany and the United Kingdom are likely to cause a decrease in MSL budgets in these two markets, currently at $2.7 million and $1.9 million, respectively.
In recent years, pharmaceutical companies have been shifting spending on MSLs to emerging markets. Larger field-based teams will more quickly develop these territories, especially where companies have already established commercial or clinical operations. This shift in resources will help develop growth in these emerging markets, especially in India, Russia, and South Korea, where less than $200,000 is dedicated to MSL spending.
“The lower levels of wealth in these countries are outweighed by the vast untapped market of citizens in need of advanced healthcare,” said Elio Evangelista, director of operations at Cutting Edge Information. “Engagement with these physicians by MSLs will help to build interest in more expensive but more effective therapies.”
“Managing Medical Science Liaison Teams: Budget, Staffing and Compensation Benchmarks” (http://www.cuttingedgeinfo.com/research/medical-affairs/msl-benchmarks/) includes detailed data on MSL team budgets, headcounts, structures and compensation packages for liaisons located in the US, Europe, Asia and Latin America. The study is designed to help MSL managers and medical affairs organizations:
- Adjust compensation commensurate with geography and liaison experience.
- Appropriately staff their MSL teams with top-notch talent.
- Expand MSL teams into strategic territories.
- Implement best practices for developing global MSL operations.
- Overcome globalization challenges by implementing time-tested structural models.
For more information about MSL performance measures, contact Elio Evangelista at 919-403-6583.