Healthy Skepticism Library item: 12430

Warning: This library includes all items relevant to health product marketing that we are aware of regardless of quality. Often we do not agree with all or part of the contents.

Publication type: news

Average Cost per Primary Care Pharmaceutical Sales Rep Approaches $175,000
Marketwire 2008 Jan 15
http://www.marketwire.com/mw/release.do?id=810290&sourceType=3

Full text:

Pharmaceutical companies’ average cost per primary care sales rep hovers near $175,000, according to a recent study by Cutting Edge Information. The sampling of companies taking part in “Pharmaceutical Sales Management 2008,” available at http://www.PharmaSalesManagement.com, reported costs that range from $125,000 to $225,000 per primary rep annually.

Interestingly, the average cost per primary rep from the study showed an increase from a similar study compiled in 2005; hinting that costs are going up across the industry.

“Cost per primary care rep has been a number that we have seen hover around the $150,000 mark for several years,” says David Richardson, senior analyst at Cutting Edge Information. “Though there were some companies in this study that still report costs near the $150,000 level, many other companies are revealing higher cost levels this year.”

“Pharmaceutical Sales Management 2008” examines pharmaceutical companies’ sales investment, structure, strategies, and field tactics. Compiled from interviews and surveys with sales leaders at top performing pharmaceutical companies, the report allows drug companies to compare and improve their own sales strategies.

“Pharmaceutical Sales Management 2008” explores the latest trends, budgets and strategies of top pharmaceutical companies. Key metrics in the report include:

— Budgeting and Financial Support
— Structure and Headcounts
— Product Prioritization, Territory Alignment and Coordination
— Sales Operations and Contract Sales
— Training and Development
— Sales Compensation and Reward Programs
— Rep Activities
— Segmenting and Targeting
— Overcoming Reduced Physician Access
— Optimizing Time Earned with Physicians