New E-Course Series Addresses Evolving Sales Training Needs in the New Pharmaceutical and Biotech Selling Environment
RALEIGH, N.C. (May 27, 2010)—Pharmaceutical Institute, a leading provider of specialized training solutions for the pharmaceutical and biotech industry, today announced the launch of a new e-course series titled Beacon Series on Pharmaceutical and Biotech Sales. This series, developed in partnership with subject-matter experts from Campbell Alliance, is designed to address the changing training needs of today’s sales representatives and front-line managers.
“The pharmaceutical industry is in a state of transition, causing many companies to make significant changes to the way they do business. To remain competitive in this increasingly complex environment, many companies are deploying new commercial models, which involve fundamental changes in the traditional roles of the sales representative and the front-line manager,” said Garry O’Grady, General Manager of Pharmaceutical Institute. "These new roles demand a greater understanding of the marketplace, including a deeper knowledge of customer business models, a greater awareness of pharmaceutical and biotech companies’ strategic decision making and finances, and an enhanced ability to analyze the business within sales geographies and develop solid plans of action."
The Beacon Series on Pharmaceutical and Biotech Sales consists of in-depth e-courses focused on non-traditional topics—such as business acumen, pharmaceutical finances, and customer operations—that are at the heart of the industry’s new sales models. Current course offerings are:
- Business Acumen Suite: This four-module series is aimed at improving the effectiveness of sales professionals. It addresses key topics that are increasingly important in the evolving selling environment. This suite includes courses on pharmaceutical and biotech finances, managed markets strategy, pharmaceutical and biotech data, and practical frameworks for analysis and planning.
- Total Office Call—Primary Care: This course identifies the various players in a primary care physician practice, explores their concerns and barriers to product access, and describes how pharmaceutical and biotech companies can provide support for their concerns.
- Total Office Call—Specialty: This course identifies the various players in a specialty physician practice, explores their concerns and barriers to product access, and describes how pharmaceutical and biotech companies can provide support for their concerns.
- A Sales Representative’s Introduction to Marketing: This course provides sales representatives a high-level overview of the marketing group at a typical pharmaceutical or biotech company. It gives them a better understanding of the role of marketing in ensuring a product’s success from discovery and development through patent expiration.
- A Sales Representative’s Introduction to Managed Markets: This course gives sales representatives a high-level overview of the managed markets function at a typical pharmaceutical or biotech company and how the group works to improve access for a company’s products.
- A Sales Representative’s Introduction to Drug Discovery and Development: This course gives a high-level overview of what a pharmaceutical product goes through from early discovery through development to give sales reps a better understanding of the time, effort, and money involved in bringing a drug to market.
- Hospital Selling—Gaining Formulary Access and Creating Demand: This course focuses on the importance of attaining a position on the hospital formulary and the process by which formulary status is achieved. This course also describes the demand-creation process and the difficult environment that sales representatives now confront when trying to encourage product use.
Additional courses are currently in development and will be added to the series. For more information on the Beacon Series on Pharmaceutical and Biotech Sales, please visit http://www.pharmainstitute.com/training-solutions/beacon-seriesindex/index.cfm
About Pharmaceutical Institute
Pharmaceutical Institute is a leading provider of specialized training programs for the pharmaceutical and biotech industry. We partner with subject matter experts from our parent company, Campbell Alliance, to develop high-impact distance learning solutions for professionals within all major pharmaceutical company functions including brand management, business development, clinical development, managed markets, medical affairs, sales, and trade and distribution. Pharmaceutical Institute is based in Raleigh, N.C. For more information, please visit www.pharmainstitute.com.
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