Chapter 1 - So You Want A Career in Pharmaceutical Sales Flashcards
Pharmaceuticals are arguably the most socially important healthcare products. True or False?
True.
What have pharmaceuticals been used extensively to promote since the late 20th century?
“Wellness” disease prevention (e.g. vaccines) and as early interventions for people at high risk for certain conditions.
What two things have become more prominent goals for patients, healthcare providers, and the pharmaceutical companies in recent years?
Quality of life and lifestyle enhancement.
Pharmaceutical development is a high-risk undertaking, in which many promising leads prove disappointing. True or False?
True.
Blockbuster level drugs typically produce how much in annual sales?
Over $1 billion.
How much does the global pharmaceutical industry generate in annual revenue and how many people do they employ?
$950 billion and 1.7 million people.
Which three countries produce the largest portion of the world’s pharmaceutical revenue?
The U.S., Western Europe, and Japan.
Which two factors have contributed significantly to recent growth in the pharmaceutical industry?
Population growth and increased life expectancies.
How much longer can a person expect to live today compared to the late 1800s?
Over 30 years longer.
Senior citizens consume ____ _____ times as many medications as people under the age of 65.
over 3
Pharmaceutical companies joining genomic companies to establish genomic research facilities will prove profitable in the near term. True or false?
False.
Pharmacy Benefit Managers (PBMs) act as intermediaries between which two entities?
Pharmaceutical companies and large drug purchasers.
Driving economies of scale, PBMs can sell drugs by mail at lower prices than retail pharmacies. True or false?
True.
The high cost of medicines is the cause of increasing healthcare costs. True or false?
False.
What percentage of the total healthcare costs in the U.S. are related to expenditures for prescription and non-prescription pharmaceuticals?
8%.
Which federal organization regulates the introduction of new drugs and enforces the United States drug laws?
The Food and Drug Administration (FDA).
The FDA approval time is shorter than in past years and the number of approved drugs is rising. The average review time for a new drug is _____ months, down from almost ________ years in 1996.
18 and 3.
Restrictions regarding limitations on Sales Reps concerning “off label” or unapproved uses of their products have been increased. True or false?
False.
What two main categories does the marketing of prescription drugs fall into?
Professional physician promotions and direct-to-consumer (DTC) advertising.
How many geographic regions do most sales organizations divide the country into?
5 to 10.
Each district within region typically includes how many territories?
8-12.
The heart of the pharmaceutical sales team is the Regional Manager (RM). True or false?
False.
Which individual is the main point of contact for the sales representatives?
The District Manager (DM).
Give an example of the regionalization of healthcare delivery systems.
Prescription reimbursement is different in California than it is in Florida.
