GSK’s New Commercial Model Will “Stay The Course” Regardless Of ACA’s Future
This article was originally published in The Pink Sheet Daily
About a year into GSK’s innovative sales force incentive program, Jack Bailey, head of payers, policy and vaccines, provides an update on the company’s strategy in an interview with “The Pink Sheet” DAILY.
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After several years of experimentation, big pharma has settled on new commercial models for their U.S. sales teams and are in various stages of implementation, according to ZS Associates Managing Director Chris Wright. The preferred models have commonalities built around a mix of traditional sales reps, key account managers and multi-channel digital tools.
Three years into the ACA, the biopharma industry takes stock of its near-term wins and losses as the law’s critical expanded insurance coverage takes effect beginning in 2014. Pharma still isn’t sure whether the increase in covered lives from the exchanges will boost prescription sales enough to offset the rebates, taxes, and fees it agreed to pay out, or what kind of patients constitute this new market.
Like the canaries that miners used to take deep into the coal mines with them to ensure the air was of breathing quality, GlaxoSmithKline sales representatives will play a pioneering role starting next year when new compensation practices based not on sales totals but instead on customer service are implemented