Pharma Business Development: In-person Format Clearly Beats Video Conferencing

Of the 424 Business Development Executives representing 257 pharmaceutical companies from 41 countries only a little more than 6% have opted for digital-only negotiations which the seamlessly integrated video facility allows among all participants before and after the on-site Marketplace event. This is a far cry from the 20% (or more) share of video conferencing which executives of other industries estimate to become the future standard for business negotiations.

Says Dr. Norbert Rau, who designed and initiated the euroPLX Marketplaces in 1995: „The rules governing human interaction are changing without any doubt, but apart from the widespread digital meeting fatigue, pharma business development remains a matter of developing mutual trust face to face. The complementary technology of Zoom video conferencing is an Airbus or a Boeing. Video conferencing is a very practical second choice for emergencies, time constraints, inability to travel and other adverse situations which can prevent an executive to meet others in person.“

Since almost 27 years the Heidelberg, Germany, based service provider RauCon GmbH & Co. KG runs an online platform for arranging combined real (in-person) and digital (video) business meetings, called Marketplaces for Pharma Business Opportunities (euroPLX and asiaPLX). These represent the world’s most often held and leading pharma partnering events since 1995.