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Executive Summary

It is now the turn of 'offshore sales and marketing consultancy' for pharma companies to take centre stage and enter India, and create jobs in the outsourcing industry. After outsourced drug discovery research and development, clinical research and data mining management, outsourcing in the pharmaceutical domain is taking a new turn.

India-based consultancies are today offering their services in a vast array of business intelligence and analysis, competitive intelligence, market analysis, patient flow and cost analysis, performance measurement and reporting. The India-based consultancies are offering solutions in business intelligence and analysis, competitive intelligence, market analysis, patient flow and cost analysis, performance measurement and reporting.

To ensure sales' force effectiveness, offshore consulting takes care of segmentation and targeting, portfolio optimization and benchmarking the client's topline against the competition. In revenue forecasting and asset valuation, consultants conduct sales revenue forecast, pre-launch sales forecast, financial analysis and feasibility study.

Market research analytics and epidemiology-based medical services in particular are growing fast. The 'sales and marketing consultancy' business worldwide is growing at an estimated $ 3 billion and is growing at 5-6 percent annually. The need to offshore these services is driven by the compulsion to cut costs and, hence, India needs to grab this opportunity with both hands.

Presently, global pharma companies and consultancies like MarketRx, Frost & Sullivan, TNS and ZS Associates, which have set up their captive KPO centers, drive the line of new business in India. India's abundant human resources in the pharma domain, analytics, statistics, epidemiology, bio-statistics, data modeling, and software development and presentation expertise have opened the eyes of western pharma companies making India a potential hub for outsourcing opportunities in pharma. This has the potential to create a wave of opportunity in knowledge process outsourcing in the pharma domain and lead to overall value growth in KPO.

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* Contributed by: -
Deepak Bisht,
Senior Business Analyst,
marketRx^® (Website: www.marketrx.com).