Competitive intelligence in the pharmaceutical industry involves systematically collecting and analyzing information about competitors' objectives, strategies, capabilities, and assumptions. It benefits pharmaceutical companies by incorporating external market forces into strategic planning, enhancing various business functions, and minimizing decision risk. Competitive intelligence for pharma focuses on monitoring competitors' product development, pricing strategies, and commercial priorities throughout a product's lifecycle from research to marketing. It is important for pharmaceutical companies to establish strategic competitive intelligence functions that reach across departments to gather and share critical competitor information.