Industry Trends

Pharmaceutical sales get boost from good Bayer performance

Pharmaceutical Sales Boost

Sales for drug manufacturer Bayer Corporation grew by 10 percent in the second quarter of 2012, providing relief for pharmaceutical sales reps in a market afflicted by regulatory pressures, the leading cause of concern for pharmaceutical executives. Overall growth in the Consumer Health and Pharmaceuticals segments contributed to the growth—good news in the market of pharmaceutical sales jobs.

These reports are in addition to stronger than expected second quarter growth by California-based company Allergan. Anyone looking for a position as a pharmaceutical sales rep or medical sales rep would be happy know that the pharmaceutical and medical device manufacturer reported net earnings of $295.4 million on $1.49 billion in sales, a 19 percent increase from last year. This is all in spite of rapidly decreasing sales of their Lap-Band weight loss treatment, which is losing traction in competition with sleeve gastroectomies.

Overall, the Pharmaceuticals segment posted 4.3 percent growth, mainly in North American and Chinese markets, despite declining European sales. This proved a positive indicator for the American pharmaceutical sales job market.

Pharma sales have recently suffered from increasing levels of regulations. In fact, in a 2012 survey of pharmaceutical executives, they claimed to now be spending as much time dealing with regulations as they are growing their business. Impediments include regulations on market access, price controls and distribution.

What is encouraging for anyone with a pharmaceutical sales job is that pharmaceutical industry growth is expected to come not from mergers and acquisitions, but, rather, from research and development. This means new products to push for pharmaceutical sales representatives. In fact, 47 percent of pharma executives say that new products and services will be the number one destination for budgets in following quarters.

If you want to be the representative to push these new pharmaceuticals, then join MedReps.com . You might also be interested in joining the growing field of medical sales.

 

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