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A few pharmaceutical companies have realized that training sales representatives on high science alone is not enough, especially when most products are similar in quality. Thus, training sales representatives on relationship selling techniques in addition to medical science and product knowledge, can make a difference in sales force effectiveness.
The AIDA marketing model is a model within the class known as hierarchy of effects models or hierarchical models, all of which imply that consumers move through a series of steps or stages when they make purchase decisions. These models are linear, sequential models built on an assumption that consumers move through a series of cognitive ...
Pharmaceutical sales representatives or Medical sales respresentatives [1] are salespeople employed by pharmaceutical companies to persuade doctors to prescribe their drugs to patients. Drug companies in the United States spend ~$5 billion annually sending representatives to doctors, [ 2 ] to provide product information, answer questions on ...
The top 16 best selling pharmaceuticals of 2017/18. [2] Rank Drug Main indication Trade name 2018 sales (million USD) 2017 sales (million USD) 1 adalimumab:
Bausch Health's business model is primarily focused on acquiring small pharmaceutical companies and then sharply increasing the prices of the drugs these companies sell. [2] Valeant was originally founded in 1959, as ICN Pharmaceuticals by Milan Panić in California. During the 2010s, Valeant adopted a strategy of buying up other pharmaceutical ...
Supporters of direct-to-consumer advertising argue that advertisements increase competition which leads to lower prescription drug prices and new development, citing, for instance, that between 1997 and 2001, spending on research and development in the U.S. increased 59% while spending on promoting drugs directly to patients increased 145%.
PBMs negotiate price discounts from retail pharmacies, rebates from pharmaceutical manufacturers, and mail-service pharmacies which home-deliver prescriptions without consulting face-to-face with a pharmacist. [15] Pharmacy benefit management companies can make revenue in several ways.
Repligen Corporation is an American company devoted to the development and production of materials used in the manufacture of biological drugs. 2014 The company is based in Waltham, Massachusetts, 2014 and was incorporated in Delaware in 1981. [1]