New Brunswick, NJ— (April 6, 2006) SRI’s 4th Annual Pharmaceutical Marketing & Sales Global Summit attracted industry leaders to examine a variety of topics, including the on-going development of the sales force. Moderator, Eric Otterbein, Director of Field Sales Management Development at TAP Pharmaceuticals led a distinguished panel, including Dan McCall, Senior Vice President, Sales & Field Operations of King Pharmaceuticals; Susanne Reilly, Vice President, Talent Management of PDI, Inc; and Jay Ross, Director of Training at Eyetech Pharmaceuticals.
In the last 10 to 12 years, the pharmaceutical industry has spent a great deal of resources on the development and training of sales representatives. Now, attention is also being paid to the development of district managers (DMs). The panel agreed that any company not focused on developing competencies and skills to guide the development effort is surely remiss. Leadership should have a profile with which they can assess new hires for future development. Although skill sets for sales reps have remained virtually unchanged over the past 100 years, today’s reps require a high level of clinical acumen, an understanding of reimbursement methods, and a sense of product placement and displacement.
While DMs generally are hired from within the company, the group agreed that a good sales rep does not always make a good DM, since a distinct skill set is required for each position. Panelists described their efforts to assess senior field leadership. Susanne Reilly explained how external consultants worked with PDI not only to develop training programs, but also to serve as one-on-one coaches for potential DMs.
E-learning was examined as a method by which to provide on-going training and the development of advanced skill sets for sales reps. While e-learning was regarded highly, it was also acknowledged that the current focus is primarily on using a blended approach. No matter what form of training is used—be it e-learning, internal “universities”, specialized programs, formal or informal initiatives—the panel agreed that any sales rep will require continued assessment, regardless of their place on the corporate ladder. They concurred that performance cannot be measured by a single event or program, but by performance over time. The real success with regard to rep education and mentoring can only be measured by positive business outcomes.
This panel discussion was an excellent opportunity for attendees to learn first hand some of the industry’s leading edge and tried-and-true approaches to sales force development. PDI's involvement underscores their commitment to sharing their expertise in market dynamics and changing sales force structures for the betterment of the biopharmaceutical community.
For more information contact:
Stephen P. Cotugno
Executive Vice President-Corporate Development
PDI, Inc.
201-574-8617
About PDI
PDI, Inc. (NASDAQ: PDII) is a diversified sales and marketing services provider to the biopharmaceutical industry. PDI's comprehensive set of outsourced sales and marketing solutions is designed to increase its clients' strategic flexibility and enhance their efficiency and profitability. Headquartered in Saddle River, NJ, PDI also has offices in Pennsylvania and Illinois.
PDI's sales and marketing services include our Performance Sales Teams™, which are dedicated teams for specific clients; and Select Access™, our targeted sales solution that leverages an existing infrastructure; marketing research and consulting; and medical education and communications. The company's experience extends across multiple therapeutic categories and includes office and hospital-based initiatives.
PDI's commitment is to deliver innovative solutions, unparalleled execution and superior results for its clients. Through strategic partnership and client-driven innovation, PDI maintains some of the longest standing sales and marketing relationships in the industry. Recognized as an industry pioneer, PDI remains committed to continued innovation.
For more information, visit the Company's website at www.pdi-inc.com.
Forward-Looking Statements
This press release contains forward-looking statements regarding future events and financial performance. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond PDI's control.
Some of the important factors that could cause actual results to differ materially from those indicated by the forward-looking statements are general economic conditions, changes in our operating expenses, adverse patent rulings, FDA, legal or accounting developments, competitive pressures, failure to meet performance benchmarks in significant contracts, changes in customer and market requirements and standards, the impact of
any stock repurchase programs, and the risk factors detailed from time to time in PDI's periodic filings with the Securities and Exchange Commission, including without limitation, PDI's Annual Report on Form 10-K for the year ended December 31, 2004, and PDI's periodic reports on Form 8-K filed with the Securities and Exchange Commission since January 1, 2005. The forward looking-statements in this press release are based upon
management's reasonable belief as of the date hereof. PDI undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
|
