Expanding Medical Affairs could help restore trust, demonstrate value of biopharma organizations and productsby Tom Yang, Principal, Monitor Deloitte, Deloitte Consulting, LLP
Within biopharmaceutical companies, Medical Affairs has often been seen as a necessity, but not necessarily core. This unit is typically neither responsible for the development nor commercialization of new drugs.
We see untapped value in Medical Affairs for biopharma, but few companies have been able to capture it. Here are three areas where Medical Affairs could enhance value for biopharma companies:
- Restoring trust: In an environment that has commonly grown skeptical of large biopharma companies,