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In press release today, Merck & Co disclosed that it reduced the size of its global sales force by 12 percent in 2010. Ken Frazier, Merck’s newly appointed CEO, pointed out that cuts in sales force sizes in developed markets like the US and Europe reached almost 30 percent. Yet, despite these cuts, Merck reported that it was able to boost sales in its vaccine and pharmaceutical business units.

Merck, like most other big pharmaceutical companies, have drastically reduced the sizes of their sales forces in recent years. The cuts have been attributed to higher than expected product attrition rates, product recalls and changes in physician preferences. It appears that many physicians grew tired of repeated visits by multiple reps after they were no longer allowed to give gifts or buy lunches for physician office staff. Further, many industry analysts contend that the advent of web-based marketing, social media and medical reimbursement overhaul (doctors no longer have time for reps) have largely rendered most pharmaceutical sales reps obsolete!

Other factors contributing to the recent demise of pharma reps are thin drug development pipelines, tougher regulatory standards for drug approval and impending patent cliffs (generic encroachment) for many blockbuster small molecule drugs. Put simply, fewer drugs require fewer people to sell them.

I think the death knell for pharma reps may be a bit premature. Many physicians find that well trained and informed sales rep can be a great resource and helpful to their practices.  Nevertheless, looking on the bright side, there is a growing need for sales reps that possess the background and training to sell biotechnology products! That said, unemployed pharma reps may want to consider going back to school to get some biotechnology training. This training is frequently available at local community colleges and four year colleges and universities and online.

Until next time...

Good Luck and Good Job Hunting!!!!!!!!

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The Avandia debacle is still ravaging the employee ranks at GlaxoSmithKline especially at its Research Triangle Park, North Carolina and in Philadelphia locations. According to a post at Pharmalot, the UK-based drug manufacturer is cutting as many as 350 jobs (2.0% of its workforce) at both locations. This represents an almost 40% reduction in drug discovery and development activities that take place at both sites.

These cuts come after GSK closed a factory and drastically cut its sales force late last year. To make matters worse (particularly for those folks who lost their jobs) GSK purchased an early-stage drug discovery company called Sirtris Pharmaceuticals for about $720 million earlier this year. Clearly, company executives have more faith in external rather than internal drug discovery at GSK.

The saga continues……

Until next time

Good Luck and Good Job Hunting (forget North Carolina)!!!!!

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As I mentioned in previous posts, things are simply not going Merck’s way. Merck has been battered in the past several months by the Singular flap, precipitous drops in Vytorin and Zetia sales and, most recently, FDA’s rejection of its follow-up Cordaptive anti-cholesterol drug. This has left the drug maker with little choice but to cut an additional 1,200 jobs from its rapidly shrinking US sales force.

The cuts, announced yesterday, are in addition to a companywide reorganization that began in 2005 which resulted in the elimination of approximately 8,100 positions. As of last December, Merck had 59,800 employees worldwide—soon to be 58,600 give or take a few employees!

Until next time….

Good Luck and Good Job Hunting???????

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