Most chemistry departments in the drug industry have some academic consultants who come in every so often. The idea is that they'll have some useful suggestions about synthetic problems (there aren't so many academic consultants who are useful on drug discovery questions as opposed to pure chemistry ones). At the companies where I've worked, the consultants will spend the day in a conference room, while project teams troop in and out with presentations.
How useful this process is varies, to say the least. The first variable is the consultant, because some people are just better at that sort of thing. Ideally, you want someone who has a lot of ideas, has them relatively quickly, and enjoys putting them out for people to comment on them. Not everyone fits that description. While those can all be useful qualities, there are plenty of world-class scientists whose working style doesn't fit those requirements, and these people tend to be less valuable for drop-in sessions.
Another variable is the sorts of problems the drug discovery teams are dealing with. We try, in the industry, to reduce our chemistry to the simplest possible routes. Time is money (and money is money, too), and we always need methods that will reliably crank out plenty of different analogs without a lot of work. When that works, it often doesn't lead to especially exciting chemistry - in fact, the Venn diagram would show that "smoothly running project" and "exciting chemistry" don't overlap much. That means that the projects where things are going fine don't have much to talk about when the consultants appear, and those sessions sometimes end up spending more time on peripheral problems.
Much of the time, too, the biggest problems aren't chemical ones. If you're having trouble with metabolism, tox, or absorption, there aren't going to be many consultants who can help you out. Most of the ones who can are ex-industry people. (And with problems like these, sometimes no one can help you out at all). But asking someone about oral bioavailability when their research is all about interesting new synthetic organic methods is a waste of time - yours and theirs.
I've had some useful and interesting consulting sessions over the years, but some really disastrous ones, too. Many of the latter feature those "Well, now what do we talk about?" moments, which seem to be a cue for Satan to emerge and fill out the hour. So plan ahead. Make sure that you've got plenty to talk about. Actually, you'd better have more than you think you'll need, because some of your topics may either get a fast answer, or an equally fast shrug of the shoulders. . .