Mgt 330 Week 2 Assignment

Pharmaceutical Sales Industry

MGT 330

Instuctor Joseph Curtain

April 16, 2010

In today’s society, pharmaceutical companies are forced to reinvent itself in order to ward off competition and warrant profit. Powerful pharmaceutical companies have been aggressively cutting sales positions in order to lower costs and maintain corporate productivity.  The world-wide recession has not shown mercy to pharmaceutical companies as income has declined. The well-dressed, smooth-talking pharmaceutical representatives who sell the vision of pharmaceutical companies are struggling for their careers.

. The success of the pharmaceutical industry is powered by the healthcare systems it operates under. In today’s society, it appears that every healthcare system is reorganizing. With global restructuring of the healthcare system, an increase in demographic movements, it is difficult for the pharmaceutical industry to make changes. Companies are of what is yet to come.

Many pharmaceutical companies try to merge with other companies in order to stay competitive in a demanding economic market. However, with every union made, thousands of pharmaceutical representatives will lose their jobs. Previously, experienced representatives could make a simple transition with another drug company and start marketing another medication. With today’s environment, there are a smaller amount of pharmaceutical companies remaining; and the lingering companies have made recent lay-offs.

The most recent dilemma for pharmaceutical sales representatives are the physicians they call on. A rising number of physicians declining to meet with

pharmaceutical sales representatives, and those that agree to, will do so only during a scheduled appointment. As their patient loads increase, physicians are less willing to

spend their time conversing with drug reps. Additionally, many doctors are recognizing that the medical information provided by the drug companies and...