p Job Description of Pharmaceutical Sales Rep. - provide valid, proven, R&D-based information about the
company's medications so physicians can then utilize this information and apply it in their medical
practices.
Selling as a Pharmaceutical Sales Rep. - has to initiate, establish, and then maintain a relationship with a
physician.
Range of Health Products - 1. PHARMACEUTICALS-medicines & vaccines for human & animal use.
Products may have a brand name or generic, and may be prescription or over-the-counter.
2. DIAGNOSTIC-equipment & supplies used in screening, detecting, & monitoring disease (ex: simple
home testing kits, sophisticated diagnostic imaging technologies)
3. MEDICAL DEVICES- advanced instrumentation and appliances used for medical therapy (ex: joint
replacements, implantable defibrillators, & pacemakers). Also includes drug delivery devices (ex:
syringes, infusion pumps, metered-dose inhalers, & trans-dermal patches)
4. MEDICAL SUPPLIES-commodity, high-volume supplies (ex: surgical gowns & gloves)
5. DURABLE MEDICAL EQUIPMENT-Reusable products for health-related use in the home (ex: walkers,
wheelchairs, oxygen equipment, prosthetics, & hospital beds)
General Spectrum of Healthcare Settings - 1. HOME-BASED CARE-Patients/consumers, their families &
friends; home health nurses & aides
2. PRIMARY CARE (Checkups & General Health Issues)-OB/GYN, Family/general practitioners, internists
3. SECONDARY CARE (Specialized Outpatient Consults)-specialists
4. TERTIARY CARE (Inpatient)-Community hospitals; Academic medical centers; Skilled nursing facilities
The Pharmaceutical Industry - Global Pharmaceutical Industry- $950 billion in annual revenue
Pharmaceutical sales are highest- U.S., Western Europe, & Japan
U.S accounts for roughly- 1/2 of the world's pharmaceutical revenues
Because of lack of standardization at the international level, companies must overcome a range of
regulatory hurdles in order to obtain approval to market their products in each country/region.
Factors Influencing Growth - Two Factors:
1. POPULATION GROWTH
2. INCREASING LIFE EXPECTANCY
Both increase the number of elderly persons in the United States.
Senior citizens become candidates for drug therapies & increased prescription use.
Senior citizens consumed over 3x as many medication as people under the age of 65 yrs old.
Technology - Joining with Genomic companies to specialize in gene research, genetically-altered drugs, &
molecular biology.
Healthcare Demand - Prescription drug therapy is cost-effective for insurance companies & healthcare
providers. Other interventions such (surgery, nursing care, clinical visits, hospitalization, & home
healthcare) are very expensive.
Prescription drug therapy often eliminates the need for these costly interventions.
People Commonly assume- the high costs of health care are due to the high costs of medicines and
patients spending more on prescription drugs than on other healthcare services...THESE ASSUMPTIONS
ARE INCORRECT!
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller knowledgeNest. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $10.49. You're not tied to anything after your purchase.