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10 mistakes you should never make in a sales presentationMost presentation mistakes made by representatives in the field are elementary and may be easily avoided.
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PE's Annual Sales and Marketing Employment Survey: The Big SqueezeIn spite of pharmaceutical employers' best intentions to the contrary, sales rep compensation is being squeezed in a vise that is gradually narrowing the gaps between what top, average, and bottom performers are earning. According to the Hay Group's Pharmaceutical Sales Force Effectiveness Study, co-sponsored by Pharmaceutical Executive, reps in the 90th percentile are earning just 40 percent more than the average performer. This is not to suggest that reps aren't being paid handsomely (they are), but that the pay-for-performance model is showing signs of weakness.
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Micromarketing An Individual ApproachThe computing power of today's PC enables marketers to conduct analyses that were unthinkable just a few years ago, creating exciting new ways to approach and track promotion response. This article describes a novel approach that models promotion response at the individual physician level.
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Every Employee, Every DayPharma companies must address the same group of stakeholders-customers, employees, shareholders-as any other industry, plus one more. Compliance with FDA and other regulatory agencies is not only critical for success, for some life science companies it determines their very survival.
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Internet DTC - Minding Your P's & Q'sEffective DTC Product Web Sites Must Synthesize Advertising and Labeling Requirements
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Can You Keep a Secret?Pharmaceutical companies big and small depend heavily on information, much of it confidential and valuable. From low-tech customer lists and marketing plans to the coveted results of expensive biotech research, the pharma industry is built on confidential information that must be protected, making the law of trade secrets a key component in a company?s strategy to protect its intellectual property.
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A Better Way to Manage the PipelineA major unresolved issue for the pharmaceutical industry in the 21st century is that few, if any, optimization techniques have found their way into the research portfolio arena.
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Things it took a career in sales to learnEveryone makes mistakes, but it's learning from them, and changing the way we do what we do, that make us successful.
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Bridging the GapAn effective, high-performing alliance can generate a stronger bottom line outcome.
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Beyond the BlockbusterFor decades, blockbuster product development has driven the pharmaceutical industry. Under that model, a handful of products-and, in some cases, a single product-produce the lion's share of revenue and dictate a company's strategic direction. As companies get larger, they rely more and more on blockbusters to sustain their growth. The high cost of developing major, successful drugs only reinforces the need to focus on blockbusters. It's a vicious cycle that remains firmly in place for most Big Pharma.
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Pharma’s Big Push for ValueAn “how to” primer for life sciences companies on applying end-to-end evidence strategies in demonstrating product value.
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Best of Times, Worst of TimesLooking back on 2003, biotech industry insiders and the analysts who cover them would agree that the opening line from Charles Dickens' A Tale of Two Cities aptly describes the current biotech market: "It was the best of times, it was the worst of times."
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The New Era of Risk ManagementFDA has issued the industry a new charge-pay closer attention to risk management. Now that prescription drug user fees have helped the agency approve candidates more rapidly, FDA has returned to its basic mandate: assuring that marketed pharmaceuticals are safe. In the past, that meant clear labeling with adequate directions and warnings based on clinical trials. The agency now believes that product safety extends beyond warning labels and wants to ensure that prescriptions are used safely as well. As a result, it is asking the pharma industry to demonstrate products' safety before approval and to further control their use after
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Fighting the deadly sins of meeting etiquetteRoundtable discussions can be some of the most valuable opportunities for learning and team building.
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Customer access: Can we ever have dialogue?Physicians say they are now much more likely to limit their time and dialogue with sales representatives … except for a few individuals who take a different approach.
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Risks and Rewards for Pharma in Post-WTO ChinaNew markets are a pharmaceutical company's dream. And China, with a population of 1.3 billion-and new membership in the World Trade organization-could be the pharma industry's dream come true. The country's projected growth rate of 1.1 percent per year, which will increase its pharma market by at least $50 million annually, in addition to an increasingly prosperous population with a greater awareness of health-related issues, make the market extremely attractive. (See "People Power,")
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The Sampling SubsidyPhysicians give only 25 percent of samples to newly diagnosed patients, along with a prescription.
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Industry Audit & Companies of the YearThe Enron/Arthur Andersen debacle has been a painful warning that there is more to analyzing corporate performance than the smoke and mirrors that often pass for accounting and financial scrutiny. Indicators such as brand value, new product revenue, presence and percentage of business conducted in the US market, and sales growth provide more reliable criteria for companies' short and long-term prospects.
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Brent Saunders, Allergan: Why Ireland is Ideal for EMAAllergan's CEO Brent Saunders explains why the European Medicines Agency should choose Dublin as its headquarters after leaving London.
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Diversity in Action: Q&A With Reshma KewalramaniReshma Kewalramani, MD, FASN, chief executive officer and president of Vertex Pharmaceuticals talks about how she supports the efforts of DE&I within and outside her organization.
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Winning CombinationsIn an effort to diffuse the impact of generic competition, revitalize established brands, and enhance patient convenience for long-term drug therapy, pharma companies are offering an increasing number of combination drugs. These products can expand disease markets and increase patient compliance, while reducing consumer copayments, thereby benefiting pharma companies and patients.
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Clipping CouponsIn 1894, a druggist named Asa Candler created coupons for Coca-Cola, a new "healthcare" product with "valuable tonic and nerve stimulant properties." After that early start in medical products, coupons developed as a marketing medium and were widely adopted by the consumer packaged goods industry. According to the Promotion Marketing Association's Coupon Council, 336 billion coupons were distributed in 2002, which were redeemed for approximately $3 billion in consumer discounts. Now, more than a hundred years after their debut, consumers are clipping coupons for prescription pharmaceutical products.
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Surviving the Life Sciences Funding CliffRestructuring and ensuring the right talent is in place can help life sciences industry push through latest downward spiral.
