Decline in Drug Rep Revenue Force: What it Means for Pharma Reps

The headlines are full of clinical company layoffs.  Big pharmaceutical companies like Merck, Eli Lilly, Pfizer, and others are cutting back drastically in pharma revenue rep numbers. It’s partially in response to an economy and a market that demands streamlined efficiency, and partially a response to changing requirements of physicians.  Doctors are severely limiting the visits of pharmaceutical sales reps, and the ones who still do often require appointments.  Physicians are rebelling against an over-saturation in sales calls and ‘canned’ sales pitches from a sales force traditionally less disciplined in the science of the product and more focused on the ‘freebies.’

There are still pharmaceutical sales career opportunities to be found, but candidates for those career opportunities are competing with the thousands of other pharma reps who are looking to replace the jobs they lost.

So what should you do?

• Paul Hartigan’s article “A Healthy Future in Pharma Sales?” offers some valuable advice to those still considering a career as a pharma revenue rep:  be especially careful about researching the company you’re considering working for.  Check out their product line, their market analysis, and how they treat their employees to see if it’s a company with a future for you.

• Be conscious of how companies will be reinventing the sales rep’s role.  Physicians are demanding a more knowledgeable rep–an expert in the product rather than a sales-pitch-with-a-lunch delivery system.  That requires a solid background in the science and technology of what you’re selling, as well as adaptability to a changing sales approach that includes internet-based product detailing.  Know what the market is moving to, and find out what different companies are doing to meet the changes.

• If you wanna be in the pharma sales field, it’s more important than ever to package yourself as a top-notch candidate.  Get a career coach, research ways that successful candidates get into clinical sales, and use out-of-the-box techniques like 30/60/90-day sales plans.

• If you’ve decided that the pharmaceutical sales category is no longer for you, the same advice applies–but more.  Conventional wisdom is that medical sales reps are on the low end of the laboratory revenue rep spectrum, for a couple of reasons:  (1) the lack of a science background of most pharma sales reps; and (2) the sales model in pharma sales doesn’t include the “close” that other sales areas require.  That makes it harder for some pharma reps to transition into other clinical sales areas, but not impossible.   If you’re a pharma rep who’s ready to move on, I help pharma reps move into clinical device, medical supply, and other clinical revenue roles as a career consultant in medical sales.  In fact, here’s a link to an audio piece from a pharma rep who transitioned to surgical revenue with some career coaching help.

Article courtesy of  Peggy McKee - Owner / Senior Recruiter at the nationally
recognized pharmaceutical and pathology sales recruiting team of PHC Consulting.
© Copyright 2008 PHC Consulting | All rights reserved

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Decline in Drug Rep Sales Force: What it Means for Pharma Reps