Cipher, a leading provider of competitive and market intelligence consulting and technology solutions, partnered with James Madison University to conduct a first-of-its-kind comprehensive analysis of the state of Competitive Intelligence (CI) within the Life Sciences industry (i.e. Pharmaceuticals, Biotechnology, and Medical Devices).
The study looked at the top 100 companies by last reported revenue in each vertical and gathered over 10,000 data points on CI professionals supporting these organizations.
As a result of the study, Cipher identified five major insights for CI in the Life Sciences:
Cipher’s team worked directly with professors and students at JMU to conduct the research for this study and compile the final report. “The Life Sciences industry, particularly the Pharmaceuticals industry, have long seen the value of CI and consistently maintained a CI function at some level of their organization. The CI State of Play report offers insights not only for companies in the Life Sciences industry, but for all companies in highly competitive markets seeking build or maintain a CI capability,” said Peter Grimm, Cipher’s CEO.
“We found it especially interesting that, unlike in other industries, a large proportion of CI professionals in Life Sciences did not study Business or Business-related fields in undergraduate and graduate school. Rather, many of them pursued hard science degrees and entered the Life Science industry first, and only later developed a specialty around CI,” said Derek Heiss, Cipher’s Director of Consulting.
Martyn Smith, Head of Global Competitive Intelligence for Roche, which the study noted as one of the clear leaders in Life Sciences CI, reiterated the importance of a scientific background to becoming a successful CI practitioner in Life Sciences. “A good understanding of the science is extremely helpful for Life Sciences CI practitioners to build and maintain credibility with the key constituencies they serve within the company, especially in the research teams. Around half of my CI team have a PhD in the hard sciences,” Smith said.
For more information on this new industry report, view the press release announcement.
Cipher is a full-service competitive strategy and technology firm. We provide world-class consulting services and technology solutions that help our clients gain and maintain a competitive edge. Cipher’s Knowledge360® is an all-in-one, cloud-based competitive intelligence solution that automates the collection and organization of information from a multitude of sources, allowing users to collaborate in real-time to develop strategic insights that provide a competitive edge. www.cipher-sys.com
About James Madison University
James Madison University offers programs on the bachelor's, master's and doctoral levels with its primary emphasis on the undergraduate student. Established March 14, 1908, JMU has been a coeducational institution since 1966. www.jmu.edu
Cipher is a full-service competitive strategy and technology firm. We provide world-class consulting services and technology solutions that help our clients gain and maintain a competitive edge.