EyeforPharma to launch 'PharmaDAQ.com' fantasy stock market at SFE Europe 2007

  • New online trading site for the Pharmaceutical Industry
  • Users trade virtual shares in therapeutic/geographic areas
  • Platform to provide good source of regular forecast data
  • The EyeforPharma Sales Force Effectiveness Summit Europe Event (SFE) will take place at Grimaldi Forum, Monaco, March 7th-9th 2007

13th February 2007 London - EyeforPharma, world renowned leader in providing business strategy information and conferences for the Pharmaceutical Industry, has developed a brand new online product to use market expert information in predicting future growth in market or geographic areas. As a result, the site could be used as a valuable source of forecasting data in the Pharmaceutical Industry.

PharmaDAQ.com will be launched at EyeforPharma's major summit SFE Europe and Forecasting Excellence 2007, taking place in Monaco, March 7th to 9th.

PharmaDAQ.com is a fantasy stock market, where instead of trading shares in companies, users trade virtual shares in therapeutic/geographic areas such as 'Shares in US Cardiovascular'. Traders have the opportunity to win real prizes in return for accurately forecasting the future of drug market size.

The 'price' of the virtual shares varies according to how well people think particular therapeutic areas will do. Therefore the collective trading by a diverse range of experts should provide a good source of regular forecast data - fascinating for Pharma executives.

Pfizer and Eli Lilly have been so impressed by results of similar virtual markets in other industries that they're already adopting internal versions.

The platform is based on the 'wisdom of crowds' concept, essentially meaning that in given conditions 'the many are wiser than the few' - ask a crowd how many jelly beans are in a jar and the average of all guesses is likely to be closer than any individual guess.

EyeforPharma has already tested the phenomenon amongst conference delegates at an EyeforTravel forum. Around 50 tourism revenue managers were asked to predict the current average price of hotel rooms in Amsterdam, where the forum was being held. Whilst the range of guesses was large, the mean was just 0.5 per cent off the real average for that day.

EyeforPharma plans to engage delegates at the Summit in an interactive demonstration, running PharmaDAQ workshops and delivering a presentation on the new product. In addition, a free white paper will be available called 'can the many forecast better than the few in the pharmaceutical industry'. It is also available now to download from www.PharmaDAQ.com.

About EyeforPharma
EyeforPharma is a global pharmaceutical business strategy information provider with a highly reputable and worldwide presence in the Pharma industry. It is renowned for producing top level conferences that attract the highest level of speakers to deliver presentations on cutting edge pharmaceutical business strategies. We provide business intelligence and analysis online at www.eyeforpharma.com and through an email briefing twice a month. EyeforPharma also has a very strong foothold in the European, US and Japanese markets.

Media contact
Richard Bracchi
Global Events Director
EyeforPharma
T: +44 (0) 2073757203
F: +44 (0) 2073757576
Email: richard@eyeforpharma.com



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