What You Need To Know When Shifting Portfolio In Pharmaceutical Selling

Shifting portfolio in pharmaceutical selling
I see an increasing trend for Pharma Companies to venture into Cancer treatment.

As the number of colon cancer, breast cancer, blood cancer, and cervical cancer is on the rise, they see opportunity. If cancer is a problem, they want to be the solution. 

A front-runner if possible. 

Big names are started to jump on the bandwagon: Genentech, Pfizer, GSK, Schering AG... just to name a few.

Some already ahead. 

Roche, for example, had etched their mark in cancer treatment. Roche also used to be the pioneer in Benzodiazepines or tranquilizers. Even today, Midazolam or Versed and Valium are still widely prescribed.

Is this 'trend' worrying?

As a Pharmaceutical Sales Rep, you're not supposed to ask this question. Let the companies worry about a trend, research, marketing, etc.

You should ask instead, "How could I benefit from this?"

The answer could be as easy as a request for portfolio changes or as hard as company changes (that means resign from your current post).

Last time, when the Malaysian Government wants to implement different prescription practices, moving from dispensing to the prescribing market, I firmly believe the money will be skewed to the GP sector, but they decided, based on election polls that year, it's better to postpone than to implement.

They could lose the majority if they implement the policy.

And this decision sees that my forecast skip a beat or two. 

Until today...

The government had exercised tighter control on their medicine budget allocation to the hospitals thus denying many excellent and able citizens their right to the best medicine for their treatment.

Again, the trend is shifting.

I tried to talk and even argue with a few of my team members previously, who want to join the Government Hospital sector simply because they see how 'easy' their Government colleagues work and how big the incentive they bring home each quarter.

In other words, they want to switch because it's an easy thing to do. But not necessarily the right thing to do.

There's a world of difference between doing the thing because it's easy and doing the job because it's right. But the reality is, the right thing is not acutely visible. It takes the lenses of courage and patient. And not everyone can afford them.

It's easy to remain a rep all career-long, BUT it's right to move a notch and be a manager.

You can be, do and have more as a manager (I know, I did be, do and have more).

Unless your 'mentor' is a 'jerk' (mind my Manglish). The one who said, "I thought you can deliver when I first bring you in" and spent twice a year 'mentoring' and 'coaching' you.

Are there such a 'jerk'?

Yes, there are. And they reside in BIG companies more than the smaller ones.

But why?

Because BIG companies reward loyalty, NOT competencies. Even if you have one year of experience repeated 25 times, your competencies at Skill Level 0, stand a chance to get promoted. 

In fact, your bet is higher.

What happened to the mission, visions, and credo? 

Aren't they amount to something? 

Anything?

Of course, they amount to something. 

They're SLOGANS. 

And they got repeated when the Upper Management asked you to. 

Else, they look lovely in their frames.

If you reached here, just pay attention to my opinion on cancer treatment.

No comments:

Post a Comment