Phizer Cuts its Multitude of Drug Sale Representatives by 20%
A recent story in the New York Times reports that Phizer, one of America’s largest drug manufacturers is set to lay off 2,400 of its drug sales representatives and managers. This cut of around 20% of its United States drug sales representatives may represent a reshaping of the pharmaceutical industry.
It is the oversized drug sales representatives that contribute to such high drug prices. Phizer, who originally began the “arms race” of drug representatives, amassed an army of sales reps to push their drugs to doctors to increase sales, which forced other companies to respond.
“The real difference may be that for the first time Pfizer is changing course, and since many of the smaller companies are simply trying to mimic what Pfizer is doing, they will feel they have the permission to do the same,” said Dr. Peter Rost, former Vice President of Phizer.
Phizer had to expand their sales force in order to compensate for their lack of new innovative drugs in the pipeline for production. Several drugs that Phizer had been working on, to release into the market didn’t come through. The New York Times reported that,
“despite a billion annual research budget, Pfizer has had deep difficulties bringing new drugs to market.”
“Earlier yesterday, Pfizer announced it had ended research collaboration with a European company to develop asenapine, a treatment for schizophrenia that analysts had predicted could be a multibillion-dollar drug.”
“Pfizer has also run into unexpected problems with torcetrapib, a drug meant to raise so-called good cholesterol. Torcetrapib appears to raise blood pressure slightly in patients, a serious side effect for a drug intended to reduce heart disease.”
Phizer has caused drug prices to be drastically inflated. There is hope that Phizers cutbacks will cause a trickle down effect with the other pharmaceutical companies which may lead to a little price relief in the future. But what about now? If you are looking for affordable prescription medication you should visit the website NoPrescriptioNeeded.com. NPN is a consumer advocacy group that allows you to find and purchase your prescription medication from 30 to 77 percent less than at your local pharmacy. If you lack drug coverage or pay out of pocket for your prescription medication, visit this Consumer Advocacy website for more information on ordering from an online no prescription pharmacy.
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