Medical Sales Salary Report

“How much do med reps earn?” That’s the question the very first MedReps.com Salary Report set out to answer back in 2011. Today, according to the 2015 Medical Sales Salary Report, professionals working in medical sales jobs earn an average income of $141,464, with an average base salary of $80,681. Those figures can vary significantly though, and this report explores how and why.

The 2015 Medical Sales Salary Report not only looks at the average income of medical sales reps, but it also details how income is affected by a variety of different factors such as the type of product a medical rep sells, their specific job title, how much they travel, how much experience they have, and even things that seemingly shouldn’t impact earnings, such as age and gender.

Average Medical Sales Salaries by Product Sold

While people outside the industry may only think of pharma reps or medical device reps when they hear the term “healthcare sales” or “medical sales,” for our purposes, the term “medical sales” refers to professionals selling pharmaceuticals and devices, but it also includes those selling medical disposables, lab and diagnostic equipment, capital equipment, healthcare software or IT services – really any product or service sold into a healthcare market.

So which products bring in the most cash? In 2015, the top-earners were once again those with health IT and healthcare software sales jobs. These hard-working professionals report an average income of $169,881 (Med. $155,000). Professionals with surgical sales jobs and biotech sales jobs earned the second and third highest average incomes, respectively, though the median incomes for all three of the top product categories were equal at $155,000. Biotech sales professionals earn the highest average base salaries.

• Average Income by Job Title and Company Size 

It’s no surprise that Sales Directors and Sales VPs earn the highest medical sales salaries...

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• Average Medical Rep Salary by Age & Experience

You might expect those with the most experience to earn the highest average medical sales salaries, but this is not always the case...

• Medical Sales Salaries by Gender

Medical sales reps are far more likely to be men than women...

• Income for Medical Sales Reps by Travel and Location

Geography can also impact how much medical sales professionals earn – from how much a medical sales rep travels, to where they live...

• Medical Sales Income and Job Satisfaction

Approximately two-thirds of medical sales professionals say they are “very satisfied...

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GlaxoSmithKline could become the latest takeover target in the pharmaceutical industry

As the Daily Mail reports, dealers were speculating that GSK may face an approach from Roche of Switzerland or Johnson & Johnson of the US at about 1900p per share, valuing it at more than £92billion. In common with rivals, GSK has faced pressure from the strong pound and a need to develop new drugs as existing treatments face copy-cat competition.

The shares fell 22p to 1351p by the close of trading on Monday, down from 1642p a share in mid-April. A market source said: ‘People are hovering because of the vulnerability of the group at this price.’ They're also hovering because pharma M&A is still going gangbusters, even after a spate of large deals that included Actavis' buyout of branded drugmaker Allergan and Glaxo's own asset swap with Novartis.

The logic for a J&J or Roche bid? Perhaps not as strong as the case for a Pfizer buyout. True, J&J could add Glaxo's joint venture with Novartis on consumer health to its own sizable OTC-drug and consumer-products business. But J&J isn't into vaccines, and its prescription drug business lacks a respiratory segment, which is GSK's major pharma concern these days. Maybe J&J would like to be in those fields? Hmm. Maybe.

The top 10 most-advertised prescription drug brands

Pharma ad spending soared to $4.5 billion in 2014, backing branded drugs in levels not seen since the recession, with particular emphasis on blockbusters--and wannabes. Drugmakers poured $3.4 million into advertising spending on the top 10 drugs, which accounted for 75% of the total spent on all advertising of pharmaceuticals, according to Nielsen data. The big push at the top resulted in 5 drugs surpassing the $200 million mark in spending in 2014, versus just two that crossed that threshold in 2013. Not surprisingly, household names ruled the list, with two erectile dysfunction treatments in the top 10.

Eli Lilly's ($LLY) Cialis took over as the No. 1 spender while its chief competitor, Pfizer's ($PFE) Viagra, remained close by at No. 4. AbbVie's ($ABBV) Humira, which was the top spender in 2013, was one of the few that saw a decrease in spending, albeit minor, resulting in a drop to No. 5 as other brands loaded up on paid media.

A Patient Journey Isn't the Solution to Pharma Marketing—It's the Beginning

Megan Hillen

Megan Hillen is a planning supervisor at Intouch Solutions.

In 1898, Elias St. Elmo Lewis developed a sales framework known as the AIDA model. The revolutionary tool was the first visualization of the multistaged consumer pathway to a brand, from awareness to consideration to purchase. Since then, nearly a century has passed and the “consumer funnel” remains a go-to framework for marketers.

In the world of pharma marketing, we use a similar model. We call it the patient journey.

The traditional patient journey follows a patient through a funnel to a certain prescription through an AIDA-like approach. The stages most often consist of diagnosis, drug cycling and consideration, drug initiation, adherence and retention.

However, in an attempt to simplify the experience we lose out on incredibly rich emotional, behavioral and cultural factors that are inherent to a person battling a disease. Such factors are most often the keys to innovative solutions that could improve their lives. Perhaps the fault is in that we think of patients as consumers before we think of them as humans. Facing a debilitating battle against your body is a far cry from deciding which toothpaste to buy and it shouldn't be treated as such.

How exactly does our traditional journey model fall short?

It assumes every patient's journey is linear. No two fingerprints are the same. And no two patients have the same experience with their condition. We need to be mindful of the many nuances—such as severity level, health literacy and access to care—that impact the path and speed at which the journey progresses per individual.

Novartis and Google to fund ‘robotic pill’ maker

Google and Novartis have become the latest firms to help fund the early stage development of a new 'robotic pill' that could change the face of drug administration.

Both companies will inject an undisclosed amount of cash to help Rani Therapeutics develop a new drug delivery system for complex biological drugs that would normally have to be given by injection.

Rani said it would run feasibility studies over the next two years to assess how certain biologic medicines from Novartis can be delivered into the bloodstream using its device.

The Rani capsule, which is swallowed like a conventional pill, contains tiny needles made of sugar that are pushed into the wall of the intestine to deliver the drug.

The top 10 pharma companies in social media

Tracy Staton | FiercePharma Marketing 

Chatting with the public is not in pharma's comfort zone. Drugmakers are adept at the one-way communication known as direct-to-consumer advertising, and some of them deal well with the media. Some even know how to work with patient groups. Back-and-forth with doctors? Pharma's daily bread.

But put your average, everyday drug company in the middle of a public conversation, and it freezes up. Worried it will say the wrong thing, sensitive to criticism, mindful of unintended consequences, drugmakers usually prefer to stand by the punch bowl and check their iPhones for messages.

You could say pharma has social anxiety.

In fact, of the 50 largest drugmakers worldwide, only half even dabble in social media. Only 10 use all three of the oldest, biggest social sites--Facebook, Twitter and YouTube--according to a new study by the IMS Institute for Healthcare Informatics. And within that small group, few are actually interacting with patients and the public.

Η πρόταση της Κύβερνησης για τα ΜΗΣΥΦΑ

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ELPEN: Βράβευση του προέδρου και ιδρυτή της

Ο Πρόεδρος και ιδρυτής της ELPEN, Δημήτρης Πενταφράγκας, τιμήθηκε για τρίτη φορά την περίοδο 2014 - 2015, για την μακρόχρονη ερευνητική του δράση, από τον Οργανισμό CRS (Controlled Release Society) στο πλαίσιο του 1ου Διεθνούς Συνεδρίου "1st International Congress of Controlled Release Society", που πραγματοποιήθηκε στην Αθήνα στις 27 - 28 Μαΐου 2015, από τον τοπικό συνεργάτη του Οργανισμού (Greek local chapter).

Στo Συνέδριο με θέμα "Small Molecules (Original-Generics) and Biotechnological Drugs (Biosimilars)" παρουσιάστηκαν ερευνητικά και εφαρμοσμένα θέματα για τα κλασσικά και βιοτεχνολογικά φάρμακα αναφορικά με την ανακάλυψη και τον σχεδιασμό, τη νανοτεχνολογία για τη μορφοποίηση των διάφορων φαρμακοτεχνικών μορφών καθώς και τη σημασία της φαρμακοκινητικής - φαρμακοδυναμικής για την ανάπτυξη και έρευνα και την ορθολογική χρήση των φαρμάκων.

Τι λένε ΣΦΕΕ - ΠΕΦ - ΦΣΑ για τις εξαγγελίες Κουρουμπλή

Με αφορμή τις τελευταίες εξαγγελίες του Υπουργού Υγείας, κ. Παναγιώτη Κουρουμπλή οι συλλογικοί φορείς του φαρμάκου εξέδωσαν σχετικές ανακοινώσεις με τις οποίες διατυπώνουν τις θέσεις τους στα όσα είπε ο υπουργός. 

ΣΦΕΕ: Οι θέσεις του Υπουργείου είναι μακριά από την επίλυση των κεντρικών προβλημάτων που αντιμετωπίζει η φαρμακοβιομηχανία

«Οι εταιρίες- μέλη του ΣΦΕΕ έχουν επανειλημμένα επισημάνει ότι η φαρμακευτική δαπάνη, όπως είναι διαμορφωμένη σήμερα στα 2 δισ. ευρώ, δεν μπορεί να καλύψει τις ανάγκες του πληθυσμού και οδηγεί στα άκρα τη βιωσιμότητα του συστήματος Υγείας και θα πρέπει να ανέλθει στα 2,2- 2,3 δισ. ευρώ. Σήμερα η χώρα μας διαθέτει τη χαμηλότερη κατά κεφαλήν δημόσια φαρμακευτική δαπάνη στην ΕΕ ,- 179 ευρώ έναντι 320 στην Ευρώπη- ενώ παράλληλα το Ελληνικό Δημόσιο στερείται πολύτιμα έσοδα, καθώς για κάθε 100 εκατ. ευρώ μείωση στη φαρμακευτική δαπάνη, το Κράτος χάνει συνολικά από τα δημόσια έσοδα 47 εκατ. ευρώ και 350 θέσεις εργασίας υψηλής εξειδίκευσης στον κλάδο της Υγείας».

Τα παραπάνω επισήμανε σε ανακοίνωση του ο Σύνδεσμος Φαρμακευτικών Επιχειρήσεων Ελλάδος προσθέτοντας πως «οι αλλαγές οι οποίες ανακοίνωσε σήμερα ο Υπουργός Υγείας περιέχουν ορισμένα θετικά βήματα προς τη σωστή κατεύθυνση και εξασφαλίζουν καθαρούς και διαφανείς κανόνες, είναι μακριά ωστόσο από την επίλυση των κεντρικών προβλημάτων που αντιμετωπίζει η φαρμακοβιομηχανία, η οποία ακόμη μια φορά καλείται να σηκώσει ένα δυσανάλογα μεγάλο φορτίο, την ίδια στιγμή που έχουμε εξαντλήσει κάθε δυνατότητα ώστε να μην φτάσει στον Έλληνα ασθενή το μέγεθος του προβλήματος από την καθυστέρηση αποπληρωμής των χρεών προς τις εταιρίες, το οποίο σωρευτικά έχει ανέλθει στο 1,05 δισ. ευρώ.

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The ultimate guide for Pharma Marketing Champions

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Συγκεκριμένα, η ενεργοποίηση ενός νέου κλιμακωτού rebate όγκου βάσει της αρχής της αναλογικότητας είναι μεν προς τη σωστή κατεύθυνση και αποκλείει την ανάγκη θέσπισης κλειστών προϋπολογισμών, αλλά θα πρέπει το Υπουργείο

3 major trends driving layoffs in biotech and pharma

Between 2009 and 2013, U.S. biopharma eliminated at least 156,000 American jobs, including scaling back R&D departments, slashing sales teams, and eliminating redundancies in post-merger workforces.

Since then, the industry has continued to slice and dice sections of its employment base, particularly in the wake of a record level of M&A activity in the sector (there were 182 biopharma deals totaling $212 billion in 2014 alone, and 2015 looks on pace to beat that record). The Wall Street Journal points out that Pfizer, for example, has a habit of snapping up big companies and then chopping up jobs as it realizes synergies from those deals.

1) M&As: Harbingers of the pink slip

 

This shouldn't be particularly surprising, according to Dan Mendelson, president and CEO of healthcare analytics firm Avalere Health. "[W]henever there's a consolidation, there are efficiencies that are created by the fact that there are two heads of managed markets, there's two heads of government relations, two heads of commercial," he told BioPharma Dive in a telephone interview. 

"So you end up being able to achieve cost savings as a result of that duplication. And that is a natural consequence of mergers because that's the way that they achieve efficiencies. And good or bad, that's what they end up doing," he said.

With the pace of biopharma M&A activity on the rise, the number of these merger-related layoffs will continue to grow. To cite just one major recent example, biotech giant Amgen announced in March that it would cut about 40% of the remaining workforce (about 300 employees) at subsidiary Onyx Pharmaceuticals and shutter one of its facilities in south San Francisco. All told, Amgen announced approximately 4,000 layoffs in 2014.

But while it's obvious that a merger or acquisition portends job cuts, what's less obvious is where, exactly, those layoffs might take place at a given company. And some firms use the advent of an M&A to "rightsize" certain parts of its workforce.