Pfizer cutting sales by 20 percent (OUCH)
I interviewed with Pfizer and Merck out of college. I was thinking of going into sales. I still think about my decision to go into technology. I’ve experienced some great ups and some big downs after dotcom bubble.
Now for the first time, I’m seeing that some of my pharma sales rep friends (from Pfizer, Merck, AstraZeneca, TAP) are about to enter my world — layoffs, job cuts, downsizing, pick slips. As the Wall St. Journal puts it: The End of an Era. Of course my buddies said that the end started about 5 years ago when their golf budgets were hacked to zero.
In an attempt to get more time with a doctor, I know my buddies have described how their role has changed to include the selling of multiple drugs so that the doc can get updated on the odd chance that one of the reps get into the back office.
Sad thing is that I’m not sure that these cuts will go towards lowering the astronomical costs of prescription meds here in the USA. But I’m encouraged by Intel, Wal-Mart, and BP’s plan to intercede and take steps to save us all costs by first saving money for themselves.