It has been just over 3 years since Merck took over Schering-Plough, released ( polite way of saying FIRED) 2000 of us, including myself, and thus pretty much ended my pharmaceutical career. I got a very nice severance package ( about 11 months pay = $100,00+)..with that, I was able to pay off the rest of my mortgage of $13,000, pay off my credit cards ( $5000), and purchased the company Ford Escape for $12,700.
I was in my late 50’s and I knew finding a job in a business that hired young people ( 25-35) who were willing to start at much less money than myself, all worked against me. I thought I was in serious trouble both financially and emotionally..what was I going to do now? Could my wife & I make it on one salary if I couldn’t find work? How long would this severance pay last? I had been a Pharma rep for 21 years, starting with Berlex, then on to Organon ( which was purchased by Schering-Plough). Would I miss the Pharma life & culture? I am happy to say….not in the least!!!!
Pharma sales was great until COMPUTERS came into the business, around 1994-5 for most companies. After that, the bullshit started: business plans, spreadsheets, e-mails, endless & mindless lists of physician calls & market shares, RX volume.etc.,etc. If you joined this business after 1996-97, IMAGINE what it would be like to go to work, make your 8 calls a day, THEN GO HOME AND RELAX- SPEND TIME WITH YOUR FAMILY,FRIENDS,GO OUT,ETC…..No e-mails, no spreadsheets, no business plans to update, no VOICEMAIL to check, NO COMPLIANCE VIDEOS to watch- sounds AWFUL, doesn’t it?
After speaking with friends who either survived the Merck firing squad, or who went to get a job with another Pharma company, I am sooooo glad I don’t have to tolerate all the corporate bullshit and nightmare DM stories I still hear…DM’s checking to see what time you leave your house. DM’s checking what time you got your 1st signature, and last signature. Conference calls every week/ every other week ( what a waste of time that is- this business does NOT change on a week-to-week basis, so not much is so important as to require CONFERENCE CALLS!!). DM’S riding with you and constantly criticizing you, even when your numbers are great…stupid deadlines to meet on “Core Competensies”……
9 out of 10 Pharma reps believe that the Pharma industry is not doing well and maybe a dying business. 7 out of 10 are contemplating leaving the industry. The way I see it, there are 3 important factors why the Pharma industry is getting harder by the day:
1) Increasingly difficult to have meaningful interactions with doctors
About 30% of doctors no longer see reps. This rarely happened when I started..I could see 95% of my targets. As the workload increases and patient volume increases, it is becoming increasingly difficult for a rep to get a piece of the doctor’s time. Often it has become a quick signature, or just 15-20 seconds, hardly enough time to provide information to help shape or change their prescribing habits.
2) Lack of substantial value to offer doctors…hate say this guys & gals,but the fact remains that pharma reps don’t have much to offer in exchange for their time and attention. Back in the day when I started ( just after the Jurassic Period) , doctors used to rely on reps for information on the latest medications, happenings in the pharma industry, how other docs were using drugs,etc. Now, with information freely accessible through the internet, the role of the rep is becoming redundant. This makes building relationships with docs very difficult that would drive sales.
Now, with all the restrictions on off-label usage, or experimental breakthroughs for their medications, reps are now severely limited on what they can say. Now this stuff goes to the “medical liaisons”.
3) Finally..tighter controls & regulations on doctor-pharma interactions
It used to be that reps could provide various benefits and incentives such as speaking opportunities, sponsorships to conferences,etc. Now, tighter controls & regulations have made it difficult to even pick up a tab for lunch whilst with the doctor. Dinners are now almost unheard of, without a clinical presentation. I used to take out doctors ( and their wife) just to meet them, and it gave me an hour or two to get to know them and tell them about myself & my product ( s). Now you’d be fired, arrested, put on probation, who knows? Combined with point # two I mentioned above, I believe it has become increasingly difficult for doctors to see any value in entertaining reps through their doors.
I miss the docs themselves, though I still visit my favorites when I’m near by. I miss the $$, for sure. I miss the benefits, of course. And I miss our district the most. I still try to keep in touch with many, but they have another life now. No more seeing who has the answers to the tests. No more calling each other up to see what the DM is up to. No more copying each other’s business plan ideas. But I have no stress anymore. No more testing, role-playing, business plans, role-playing,conference calls, role-playing, spreadsheets, role-playing, POA’s, ride-alongs that were meaningless ( I was # 1 in my district for 66 months in a row in MS, and 27 months in a row in the region, and only rep in company history to be # 1 in both market share & volume NATIONALLY for 12 months straight- how much help does it sound like I needed??)…I am looking for something that has little stress- I’ve paid my dues in this business…gotta go to the pub & have a beer…don’t forget to communicate & check voice mail & e-mail later…