The pharmaceutical industry averages $31.9 million in annual sales spending for each drug in a primary care portfolio, according to new research by Cutting Edge Information.
The Cutting Edge report contains more than 250 metrics revealing top ten pharmaceutical companies’ sales organization budgets and staff support.
Across the industry, sales organizations spend about $150,000 per primary care rep and $330,000 per specialty rep. The report also shows how strategic emphasis on retail blockbusters drives spending-per-product figures.
The report, titled “Pharmaceutical Sales Management: Conquering the New Marketplace,” is available at PharmaSalesManagement.com. It includes sales budgets, staffing, strategies and tactics from 17 top pharmaceutical companies, including Pfizer, Merck, AstraZeneca, Eli Lilly, Novartis, and Aventis.
The emphasis on retail blockbusters in the pharmaceutical industry pushes spending per primary care product higher than for specialty drugs, which averages $25.3 million per product across the industry.
“The world’s most successful pharma sales forces draw on industry-leading resource levels,” said Eric Bolesh, senior analyst at Cutting Edge. “Investment drives revenue, and top companies budget for their primary care and specialty sales groups with an eye on the bottom line.”
The report showcases the following key metrics to help companies optimize sales force performance:
• Sales force budgets for primary care and specialty divisions
• Sales force spending per rep and per product
• Total sales force headcounts by company
• Average number of products for primary care and specialty divisions by company
• Sales force growth projections
• Initial and ongoing training hours per rep
Cutting Edge Information: www.cuttingedgeinfo.com