FMV in The Pharmaceutical Industry
When developing and marketing new drugs, many pharmaceutical companies enter into arrangements with key opinion leaders to serve as advisors and consultants to other physicians within their industry’s target market. Prescribing patterns for physicians have noticeably changed in research when they have received data about a new medicine’s effectiveness from other respected physicians within their area of practice.
Pharmaceutical companies are now heavily relying on physicians to assist them with promotional efforts and be an advocate for the new medicine. Indeed, many pharmaceutical companies devote millions of dollars annually to securing the services of key opinion leaders. However, conflicts of interest may arise, and the compensation paid to key opinion leaders may be subject to federal scrutiny.
As a means of ensuring that agreements between physicians and pharmaceutical companies comply with applicable laws and regulations, pharmaceutical companies engage the services of professional appraisers. Our seasoned team of professionals has the knowledge and expertise to provide your organization with thorough and defensible FMV opinions of arrangements with key opinion leaders.