Pharmaguy's Insights Into Drug Industry News
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Pharmaguy's Insights Into Drug Industry News
Pharmaguy curates and provides insights into selected drug industry news and issues.
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GSK's "Ethical" Sales Model: Is It a #Pharma Oxymoron?

GSK's "Ethical" Sales Model: Is It a #Pharma Oxymoron? | Pharmaguy's Insights Into Drug Industry News | Scoop.it

GSK’s move to a new model of customer engagement has generated a great deal of debate. Indeed, many commentators remain skeptical that this ‘ethical’ model – especially the decoupling of sales incentives from prescription volume isn’t robust enough to deliver results in the long-term.

 

A myriad of questions is being asked by onlookers: How does GSK incentivise its sales people now? How can it maintain its revenue and encourage growth? How has GSK implemented a change program on such a huge scale? In this white paper, eyeforpharma speaks to the experts, both GSK insiders and outside observers, asking (and answering) these fundamental questions and more. Most of all we ask – will GSK’s new transparent, reputation-boosting sales model be a template for the entire industry?

Pharma Guy's insight:

Related stories:

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As Doctors Lose Clout, Drug Firms Redirect the Sales Call

As Doctors Lose Clout, Drug Firms Redirect the Sales Call | Pharmaguy's Insights Into Drug Industry News | Scoop.it
Big health systems are putting distance between their doctors and drug salespeople, making it harder for pharmaceutical companies to get quick acceptance of medicines and putting pressure on profits


As a result, the pharmaceutical industry is shifting its sales efforts from doctors to the institutions they work for. In 2005, drug companies employed about 102,000 U.S. sales representatives, who mostly pitch to doctors. By mid-2014, according to ZS Associates, a consulting firm, their numbers were down to about 63,000.


Stepping in are so-called key-account managers like Ms. French who build relationships with administrators. The 20 biggest drug companies employ roughly 600 key-account managers, three times the number five years ago, according to ZS.

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Sales Reps Are Dead to #pharma: Are eDetails the answer?

Sales Reps Are Dead to #pharma: Are eDetails the answer? | Pharmaguy's Insights Into Drug Industry News | Scoop.it
32% of physicians said they cannot talk to reps, compared to 27% last year.


eDetails the answer?


A Cegedim Strategic Data (CSD) promotion audit with doctors has found spending on outreach to healthcare professionals through digital channels rose 40% worldwide in 2012.


In the US, e-detailing (one-on-one), email and e-meetings (group sessions) accounted for $534 million in promotional spending for full year 2011, and rose to $879 million for full year 2012—an increase of 65% year over year.  E-detailing grew 73.9% from 2011 to 2012.

Pharma Guy's insight:


A long time ago, I wrote: "Are Sales Reps Necessary?" It's still a relevant question today, it seems.

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Even Though There Are Fewer Sales Reps, More Physicians Deny Rep Access

Even Though There Are Fewer Sales Reps, More Physicians Deny Rep Access | Pharmaguy's Insights Into Drug Industry News | Scoop.it

According to the spring 2014 AccessMonitor™ report from global sales and marketing consulting firm ZS Associates, pharmaceutical access to physicians continues to decline. Only 51% of physicians/prescribers now allow access to sales reps, down from 55% in 2013.


The decline in access continues despite the downsizing of the pharma sales force by one-third since 2008. But, the downsizing has actually helped pharma deliver better sales calls.

How? Read the original post to find out.

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