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Everything I need to know about pharma sales I learned in kindergartenI have been in pharmaceutical sales for less than a year, and the following are the things that I've learned.
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Legal: Jumping the PondClass actions threaten industries that deal with the public. If European lawmakers remove the restriction on class-action suits, consumers will be free to file cases. Pharma companies should take heed.
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Marketing to Professionals: DetailingWhile the typical brand invests more than $100 million in annual sales force support, it spends on average less than $2 million to determine whether the detail piece is driving prescriptions.
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Formulary Additions: The Big PictureTo get along with the CFO, drug companies need to express more data in units that a health plan can integrate into its own internal actuarial analysis. The financial decision makers at a health plan want to know how a new drug affects the value of expected claims on the whole.
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Orchestrating ComplianceProduct managers would be less disrupted if compliance activities at pharma companies were more anticipatory than reactionary.
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Legal: Foreign PolicyCompliance requires overcoming cultural barriers. To start with, in some countries the taboo against bribery is not as strong as it is here.
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Track and TraceThe issue of pedigree requirements is emerging at the state level-and figuring out to what extent that will push back to the manufacturers.
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Pressed Into Action: Measuring Pharma’s Reputation ReversalStudy analyzes mainstream media coverage of the industry before and after the COVID-19 lockdown.
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Vaccines: Market on the ReboundMergers have cut the field of companies with real marketing and manufacturing muscle from 25 to five. The 2004 vaccine market will double by 2009.
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Pfizer on the Line for Warner-Lambert's Past ProblemsA former Warner-Lambert employee has blown the whistle on the company's "shadowing program," alleging that some physicians accepted money in exchange for allowing pharma sales representatives to meet with patients, review charts, and recommend prescriptions. According to the lawsuit, Warner-Lambert-since acquired by Pfizer-tried to boost sales of its epilepsy drug Neurontin (gabapentin) by tracking prescriptions and rewarding high-prescribing physicians with gifts such as cash, trips to resorts, and lucrative speaking and consulting jobs-as well as paying them to enter patients in clinical trials. The program allegedly paid 75-100 US doctors at least $350 per day to let sales reps watch
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Sewing Up New SalesMore than high-call frequency will be necessary to succeed in an increasingly competitive sales environment.
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Who Pays for Specialty Medicines?Providers and patients fish for that delicate balance between access and abandonment.
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The Ins and Outs of EAPsFor a patient who is running out of hope, waiting for a drug to be approved can be interminable. Even on the fast track, a review can take six months or longer. Some patients with life-threatening diseases cannot afford to wait. In response, many countries have developed expanded access programs (EAPs) that give patients with no other viable alternative access to medically important drugs before they are commercialized.
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Physician FrustrationAs the industry thinks about new sales force models, it should look beyond ROI numbers, toward a new paradigm that not only works for pharma, but also for its customers.
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The Road to Nowhere?Drug companies can do to specialists what Intel did to PC box makers: commoditize them.
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The Road to Nowhere?Drug companies can do to specialists what Intel did to PC box makers: commoditize them.
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Physician FrustrationAs the industry thinks about new sales force models, it should look beyond ROI numbers, toward a new paradigm that not only works for pharma, but also for its customers.
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EGA Calls for Removal of Barriers to Generics in EuropeAdrian van den Hoven, Director General of the European Generics Association (EGA), this week called for the removal of barriers to generic medicines across the European Union.
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Ignorance is No ExcuseState clinical trials requirements are in place to protect people from being exploited, or unsafely exposed to compounds. Forty years later, it's easy to say, "How did this happen?"
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More Than a Game of Keep AwayIndustry self-policing may be the only way to stop state Legislators who want to ban sales Reps, and even whole companies, from using Prescribing information.
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Legal: The Kickback EffectCriminal penalties for violating the Foreign Corrupt Practices Act can be substantial. Businesses found guilty may be fined upwards of $2.5 million for each offense, or twice the amount gained as a result of the violation.
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Sewing Up New SalesMore than high-call frequency will be necessary to succeed in an increasingly competitive sales environment.
