GREEN SALVATION:

Is being green the salvation for pharmaceutical companies?

In "Pharmaceutical Executive" article "Bringing in the Green" by Professors Taylor and Kitchen, they explain the necessity for pharmaceuticals to go green in order to bring in the "green" and help with a much needed image boost. What do they suggest? Changing all the sales force company cars to hybrids. Saving gas saves money for pharmaceutical companies. Also, because pharmaceutical companies depend on delicate ecosystems for the fabrication of new drugs, it is vital to conserve resources.

Let us know what you think.

Do you think changing all the sales cars to hybrids is a good idea?

Does Big Pharma need an image boost? And if so, is eco-friendly the right approach?

Remember: EarthWeek April 21st to the 25th

This week is Earth Week. Why not celebrate Earth Week with your team and doctors. There are little things that can make a difference. Here is some ideas that GrantProSearch staff is implementing and would love to share with you:

• Switch from plastic to reusable stainless steel water bottles.(Great to give as a gift) www.kleankanteen.com
• Reuse: Have old suits! Give them to charity. www.dressforsucess.org
• Eat Locally: visit your farmer's market or participate in your local CSA. http://www.localharvest.org/

Tell us what you are doing for Earth Week!! We would love to hear your ideas and integrate them.

News to Know: Electronic Promos vs. Sales Representatives

A new study finds that doctors prefer electronic detailing rather than sales representatives. Doctors can read and learn about the drugs during their own time, meaning more time to see patients. Yet, the study fails to show whether it is more effective in selling drugs. Without question sale representative are more effective. Since doctors could simply ignore the electronic detailing, not bother to read it or be unable to compare the drugs of their competitors.

Click here to read more

Do you think sales reps will be replaced with electronic detailing?
Do you think sales reps are the most effective way to sell drugs to doctors? And for doctors to get the most information about the product?

Let us know what you think.

ECONOMIC EFFECTS

In the last week as the economy has fluctuated and key opinion leaders speculated over whether or not we have entered a recession, many sources reported on the effects of the economy on the pharmaceutical sales industry. CNN reports lowest growth rate for pharmaceutical industry since 1961. Yet, the biotech and specialty therapies are still growing. Pharmlot gave the same news and graphs that demonstrate the growth by drugs. IMS's Murray Aitken, a senior VP sheds light on some of the reasons for the slow down, "The US pharmaceutical market has entered a new era -- one characterized by more modest growth due to the continuing impact of new generics products, fewer and more narrowly indicated novel medications, and closer scrutiny of safety issues." In the Wall Street Journal Health Blog, they commented on the reduction of sales forces for a multitude of reasons. From the backlash of inundating the doctor with reps, smaller pods are proving more effective. As discussed with the last newsletter, new models for selling are going into place.

Let us know what you think about the changing economy...

What changes do you see?

How will this change the future of pharma?

Generic vs. Brand Name

In the face of three billion dollars in drugs that will go off patent in 2008, the LA and NY Times had special features on this important question."Are brand names better than generics? Is there any difference?" Recently, the argument is being put forth that brand name drugs may be in fact better than there generic counterparts. Many neurology drugs such as ones for epilepsy, anti-depressants as well as cardiovascular drugs are under investigation. Doctors have been noting important differences, such as increased side effects and a decrease in effectiveness in generics. They state that the FDA may be overlooking important differences. Dr. Gerald Naccarelli, chief of the Pennsylvania State Medical Center's division of cardiology said, "I'm confused why there's one set of standards for patented trade-name drugs for FDA approval and a separate standard for generic substitutions. Some generic drugs . . . should be held to higher standards than the FDA now enforces." This sentiment resonated in the slew of comments that were posted on the subject of this article. Many commented on seeing the ineffectiveness of generics especially for neuro drugs. While the debate is still ongoing, the FDA is feeling the pressure to re-evaluate the generic counterparts.

To read more: "Generic vs. Brand Name" LA Times
To read more about Drug Earnings and Generics: Click here

Do you think generics should have to be approved by the FDA like branded name drugs?

Do you think there are notable differences in generics?

Let us know what you think!

News to Know: Lilly CEO, Predicting Future of Sales Reps

Lily CEO, Sidney Taurel, who is currently stepping down has another prediction for the future of the sales reps that some are claiming to be outlandish to say the least. He claims sales reps, in the future, will be paid and evaluated based on the health of the patients in their sales territories. For instance, "reps pitching diabetes drugs [...] might be measured in part on improvements in patients' blood sugar." (Jacob Goldstien, WSJ)

To read the posting on Wall Street Journal's Health BLOG: Click Here

Tell us what you think!

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Make Your Thank You Note Count!

Sometimes we feel when interviewing that the Thank You note is just tacked on. Something you are required to do, but don’t place a whole lot of time or effort writing it. Yet, mangers are valuing the thank you note more and more, considering it another crucial method of evaluation. So make your Thank You note count, let it persuade the hiring manager that you are the perfect fit.

Why a Thank You Note Counts and How to Improve Upon It

• It is part of the process: Just like a phone screen or face to face interview, you can use this as another tool to persuade the manager that you are the perfect fit. This is another chance to for the manager to see a side of you they might have not expected.

• You should ALWAYS write a thank you note, a GREAT one: The Wall Street Journal does a thorough job of explaining what should be contained in a thank you. It should be thoughtful, without spelling mistakes, well presented, as well as selling your attributes and willingness to be apart of their company. A good thank you note should also confront any issues that might have occurred in a live interview. It can even demonstrate your plan to achieve their goals and fix weaknesses. There is an art to Thank You note writing and people need to master it. The Wall Street Journal goes so far as to tell you to send an overnight handwritten note (if you have great penmanship) on tasteful and business like stationary.

• Another Criteria: This is a great indicator of your professionalism, your dedication and your ability to sell yourself to the hiring manager. Sometimes, people do not place enough emphasis on the thank you note. But, by writing a well crafted and articulate thank you note, you could seal the deal! You will be thankful you did!

TO read more: Wall Street Jounal’s article “Notes to Interviewers Should Go Beyond a Simple Thank You.”