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A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Sales in the pharmaceutical industry has been a rigid and consistent business. In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. Bowe claims this could be a source of the overdose crisis and a case of crossing the fine line between sales incentives and public health. appeared first on OS Blog.

A Forthcoming Shift of Pharmaceutical Sales Compensation Plans?

OpenSymmetry

Sales in the pharmaceutical industry has been a rigid and consistent business. In some cases, incentive compensation (IC) methods have evolved to align with new regulations regarding specific sales metrics. For example, Corporate Integrity Agreements (CIAs) were implemented by the DoJ as a way to curtail off-label drug promotion which forced companies to ensure their sales incentives encouraged proper compliance. Bowe claims this could be a source of the overdose crisis and a case of crossing the fine line between sales incentives and public health.

Overcoming “Failure to Impact” Syndrome

Steven Rosen

Create a better incentive plan. Change Management Leadership Pharmaceutical Sales Management Coaching Uncategorized sales impact sales management sales management trainingThis year was tough; next year’s sales prospects look even tougher. Your boss comes to you and says how can you sustain the sales force? What can you do? Hire only top sales reps. Focus on growing key customers.

The Achilles Heel of CRM Adoption (and 2 Ways to Overcome it)

Smart Selling Tools

Truly mobile B2B sales organizations, like those of retail merchandisers and pharmaceutical companies, need to be much more agile and results-ready than laptop computers equipped with CRM allows them to be. I was recently reminded of two very important and strategically crucial data points while attending Sales2.0. Nevertheless, it’s the double-edged “bad news, good news” thing. Here’s why.

Mylan Sold Its Soul – Will Your Sales Team?

OpenSymmetry

Just last year, in 2015, CEO Martin Shkreli of Turing Pharmaceuticals was under fire for buying the drug Daraprim from Impax Laboratories and raising the price from $13.50 From executive compensation and incentive strategies to the legislative framework, we will dissect this case to address the fact that this is not just a problem plaguing Big Pharma, but any entity that drives people within the organization to a goal through incentive compensation. Mylan’s Executive Compensation Structure – The Incentive Plan that Started It All. Is this just a story of greed?