It all starts with strong leadership. If the stockholders at PDI –INC and their elected CEO and Presidents don't hire a business acquisition team and sales directors with connections to other companies then you get no contracts. Nancy and America and most of the recent leadership at PDI have lost their connections, hence no new business other than the scraps of contracts that others have tossed aside.
I have worked for PDI off and on for 10 years. The quality and scope of the contracts in the last 5-7 years has deteriorated greatly. The big question is why???? How do other contract sales companies seem to be still be landing sizable contracts for both full and flextime time employees? Please don’t bring up the Affordable Care Act as a root cause of the lack of PDI business. If you have been employed at PDI you know for a fact that they have been only landing small contracts for the last 5-7 years that seem to last no longer than one year. Many only last for a few months.
One issue is may be that big pharma is not releasing new drugs at the rate they did 5-10 years ago. PDI's success has traditionally come from pushing along profitable established drugs that are no longer the prime focus of a big company or by promoting and milking the last dollars from a drug that will go off both patent and insurance coverage.
In the last few years I worked at PDI I started to see more of a trend of big pharma companies delegating their older drug promotion to their own reps. These companies also use the strategy of telemarketers (ironically one of PDI's own branches) or just doing direct mailing, internet ads and distributing samples of those secondary drugs to their largest customers.
It amazes me that Nancy and others can sell the same BS line about the bright future of PDI to stock analysts year after year at their quarterly business meetings. Stock prices have continued to hover around 5 to 7 per share during their tenure. New sizable contracts are nonexistent.
10 – 15 years ago PDI stock prices were in the 20- 29 share range. Contracts were abundant and the sales reps made decent salaries and benefits.
In the case of Tamiflu which was a steady seasonal business for PDI for the previous10 years. The new manufacturer realized that they had the market cornered on the flu business. There was no need to hire any outside salesforce to promote this drug. All they had to do is run a couple of strategically placed TV ads on shows like Good Morning America viewed by moms and sprinkle a few public service announcements to create enough buzz and paranoia about flu for Tamiflu will walk of the pharmacy shelf. I was very surprised that PDI kept Tamiflu for so many years.
If anyone else has other theories on why PDI has tumbled so far or strategies for them to recover I’d like to hear them.
Good Luck and Good Selling!
I have worked for PDI off and on for 10 years. The quality and scope of the contracts in the last 5-7 years has deteriorated greatly. The big question is why???? How do other contract sales companies seem to be still be landing sizable contracts for both full and flextime time employees? Please don’t bring up the Affordable Care Act as a root cause of the lack of PDI business. If you have been employed at PDI you know for a fact that they have been only landing small contracts for the last 5-7 years that seem to last no longer than one year. Many only last for a few months.
One issue is may be that big pharma is not releasing new drugs at the rate they did 5-10 years ago. PDI's success has traditionally come from pushing along profitable established drugs that are no longer the prime focus of a big company or by promoting and milking the last dollars from a drug that will go off both patent and insurance coverage.
In the last few years I worked at PDI I started to see more of a trend of big pharma companies delegating their older drug promotion to their own reps. These companies also use the strategy of telemarketers (ironically one of PDI's own branches) or just doing direct mailing, internet ads and distributing samples of those secondary drugs to their largest customers.
It amazes me that Nancy and others can sell the same BS line about the bright future of PDI to stock analysts year after year at their quarterly business meetings. Stock prices have continued to hover around 5 to 7 per share during their tenure. New sizable contracts are nonexistent.
10 – 15 years ago PDI stock prices were in the 20- 29 share range. Contracts were abundant and the sales reps made decent salaries and benefits.
In the case of Tamiflu which was a steady seasonal business for PDI for the previous10 years. The new manufacturer realized that they had the market cornered on the flu business. There was no need to hire any outside salesforce to promote this drug. All they had to do is run a couple of strategically placed TV ads on shows like Good Morning America viewed by moms and sprinkle a few public service announcements to create enough buzz and paranoia about flu for Tamiflu will walk of the pharmacy shelf. I was very surprised that PDI kept Tamiflu for so many years.
If anyone else has other theories on why PDI has tumbled so far or strategies for them to recover I’d like to hear them.
Good Luck and Good Selling!