Insight into a Career in Pharmaceutical Sales will help you find a pharmaceutical job and build a career in the industry. This 150-page comprehensive book, now in its 7th edition, includes:

• A step-by-step guide to networking in the pharmaceutical industry
• How and where to uncover pharmaceutical sales job opportunities
• Where to research for potential employers
• How to write an industry-specific resume
• How to answer over 150 pharmaceutical-specific interview questions
• Profiles of the top 50 pharmaceutical manufacturers
• Dressing for success--what an interviewer expects from the pharmaceutical sales job candidate

Anne Clayton's industry-specific, step-by-step book takes you through every stage of gaining a job in pharmaceutical sales. Below you'll find the book's Table of Contents, Introduction and excerpt from Chapter One. These will give you a clear understanding of the critical, high level information contained within Insight into a Career in Pharmaceutical Sales:

TABLE OF CONTENTS
Introduction: Your Mission
Chapter One: The New Golden Age: The Future of the Pharmaceutical Industry
Chapter Two: The Sales Representative
Chapter Three: Best Foot Forward: Resumes, Cover Letters
Chapter Four: Vital Research
Chapter Five: Networking News
Chapter Six: The Interview
Chapter Seven: Your Questions
Chapter Eight: Decisions, Decisions
Conclusion: Your Commitment
Appendix A: Company Profiles and Worksheets

INTRODUCTION: YOUR MISSION
Congratulations! You have just chosen PharmaceuticalSales.com for first-hand insight and career guidance into the pharmaceutical industry. You have taken an important step toward a vital and challenging profession, and are about to embark on a step-by-step journey to a professional career. The pharmaceutical industry is one of the most sought after jobs in sales and marketing professions. This industry has consistently shown exceptional growth over many years and promises to continue as one of the greatest industries of the century. The ever-challenging, ever-changing health care market will provide the dedicated individual with professional, business, and personal satisfaction over the course of a life-long career. Again, congratulations, and welcome to your future!

Think of yourself as starting on an exciting mission. You can see the end-point quite clearly. You see yourself enjoying and excelling in a challenging, respected career. You are the consummate sales professional in one of the most prosperous industries in America. You are making a great salary, plus bonus, a company car, and have plenty of benefits! However, you are not exactly sure how to get there from wherever you are now. You have the desire, but need a little push in the right direction.

That is where PharmaceuticalSales.com comes in! Our mission is simple: provide job candidates seeking entry-level sales representative positions in the pharmaceutical industry--like you--with the necessary tools to succeed. That's it! Reading, learning, and applying the lessons in this book provides you with an "insiders" guide to the course of action for greatest success. By practicing the simple down-to-earth steps you will land the job of your dreams, and thereby launch yourself into a highly rewarding, highly compensated life-long professional career.

Insight into a Career in Pharmaceutical Sales (Insight, for short), will support you through the important steps. Insight provides pertinent industry knowledge, key networking strategies, essential interviewing preparations, and critical organizational tools that empower you to excel in today's competitive job-hunting environment. In addition, we will do this from the inside perspective by sharing many years of pharmaceutical industry experience and special insights that can only come from being there. The guidance you receive from Insight is the combined result of substantial professional involvement in many facets of the sales and marketing of pharmaceutical products, including, and perhaps most importantly, sales management.

Many hours were spent researching, designing and developing Insight. The strategies and tools revealed in this guide were developed from first-hand personal interviews and focus groups. Additionally, we address the career requirements based on many years of experience with professional sales representatives, district sales managers, sales training managers, marketing managers, and regional sales directors, all within the pharmaceutical industry.

We also have compiled information on specific pharmaceutical companies into a convenient reference (Appendix). PharmaceuticalSales.com utilizes published sources, such as industry periodicals, annual reports, quarterly 10K filings with the Securities and Exchange Commission, personal interviews, and other such resources to answer your questions and guide you to a rewarding career. The information in Insight reflects current and historical research, and can be used as an entree into the industry.

Continue reading for a small excerpt from Chapter 1. This is only a part of Chapter 1 and not the entire chapter.

Chapter 1 gives you an overview of this dynamic business. The Future of the Pharmaceutical Industry includes current issues and the outlook of this very important industry.

In Chapter 2, The Sales Representative, Insight gives you an in-depth view of today's pharmaceutical representative on the job. You will see typical compensation packages, job description, career advancement, and positive and negative aspects of the position.

Chapter 3, Best Foot Forward, discloses that, although no resume will win you employment, many common mistakes will quickly eliminate you from the process. You will learn the twenty simple rules for resumes and cover letters.

Preparation is the backbone of your job-hunting endeavor. Understanding your target market is perhaps the most important step in securing the perfect job. How to gather and compile this relevant research is outlined in Chapter 4, Vital Research.

In Chapter 5, Networking News, Insight discloses our unique way to show you how to market yourself within the industry. This is key to successful employment. All avenues to reach this goal are explained through each stage of your process.

Now it is time to advance your career the PharmaceuticalSales.com way. Chapter 6, The Interview shows you the way by providing insight into successful interviewing strategies. It focuses on frequently asked questions and suggests ways to tailor your responses in order to maximize your impact with every answer. Most commonly, your first dialogue is via the telephone. Present yourself well, and you will enter first, second and final interviews. The possibilities are discussed with reference to what behavioral characteristics companies are seeking. Also included is a list of guidelines for professional attire that is imperative for outstanding presentations.

Chapter 7, Your Questions, provides questions for you to ask in the interview that complement you as a candidate, and generate information that you need to win the job. This chapter also shows you the most intelligent way to turn the tables and take control of the interview.

There are three outcomes from every interview process. Chapter 8, Decisions, Decisions, reveals how to handle each situation with the composure that insures positive results.

The Conclusion emphasizes Your Commitment to this career choice. It focuses on the ongoing implementation of the tools you acquired as a result of Insight. The knowledge and skills contained in this guide will work for you to maximize your potential for professional employment in this rewarding and dynamic industry.

The Appendix profiles fifty companies, offering a comprehensive reference to today's largest pharmaceutical companies and contract sales organizations (CSO's). The Appendix is also a fantastic tool that will save the entry level or experienced pharmaceutical professional literally hours of research time on over 50 pharmaceutical companies. Information includes a summary, history, CEO, number of sales representatives, annual revenue, names of promoted products, indication, sales, products in the pipeline and their indications. This section also offers advice to help you organize your newly acquired information and document your networking contacts for future interviews.

Chapter 1 The New Golden Age: The Future of the Pharmaceutical Industry

It was many years ago that discussions concerning national price controls weighed heavily on the pharmaceutical industry and its investors. More recently, there have been other worries for this golden industry, such as intense competition from generics, patent expirations on major products, rising costs of research, difficulty developing new blockbuster products, pricing constraints from managed care and government markets. Though still very strong, growth in prescription drug sales has slowed slightly. According to the Centers for Medicare and Medicaid Services (CMS), the amount Americans spend on prescription drugs grew 12.9 percent in 2004, down from the 13.4 percent rise in 2003. This compares with a gain of 7.2 percent in total healthcare spending in 2004. On Wall Street, drug company stocks began to grow at a slower rate than the overall stock market. However, according to Business Week, stocks are on a rebound. Regardless of these recent challenges, the pharmaceutical industry is among the largest, most stable, and fastest growing businesses in the entire world. In fact, it not only succeeds but it thrives, able to respond quickly to changes in domestic and global markets. There is reason for optimism and enthusiasm in the industry and among investors. According to Standard & Poor’s (S & P) Industry Surveys, pharmaceutical company earnings increased by 10 percent in 2003 and are expected to grow as much in 2004. There are promising new products in the pipelines of many companies (see Company Profiles). Total global pharmaceutical sales grew by 9 percent to $492 billion and will continue to grow in the 7-8 percent range through 2007. The global pharmaceutical market, valued at $541 billion in 2002, is expected to exceed $900 billion by 2008. According to IMS Health (the foremost provider of global marketing research in this industry), North America (U.S. and Canada) remains the largest market by far, representing 49 percent of total worldwide sales. The U.S. is not only the largest but also the fastest growing pharmaceutical market in the world, posting sales growth of 14.3 percent in 2002 and another 11.5 percent in 2003 for a total of $216 billion. U.S. drug sales are expected to increase at an annual rate of at least 12 percent through 2005.

Based on Standard & Poor's (S & P) Industry Surveys, global sales of pharmaceuticals were up 9 percent to over $492 billion in 2004. This includes both prescription (ethical) and over-thecounter (OTC) drugs. PhRMA estimates that the percentage of total sales by U.S. companies in global markets is 35 percent and growing. The strongest competitive foreign markets are Europe and Japan, followed by Asia, Africa, Australia and Latin America. This booming global market provides opportunity in long-term sales careers and the possibility of international travel.

Pharmaceutical research, manufacturing and sales is an almost recession proof business, remaining somewhat insulated from economic cycles that affect other commercial endeavors. Fortune magazine's yearly survey shows that CEO's award the "most highly respected" rating on a consistent basis to Pharmaceutical Sales Organizations. Investors will continue to make funds available for Research and Development (R&D), and more salespeople will be needed. This means job security, promotions, and competitive compensation packages.

Despite a long and successful record of accomplishment, the pharmaceutical industry, as described above, is not immune to change. Major shifts are taking place that constitute both threats to and opportunities for drug companies. The healthcare system is in flux due to the pressures of cost, managed care, consolidations, vertical integrations among health care companies, government regulations, doctor recommendations, and patients who purchase the products. As the clientele becomes more knowledgeable and powerful, their demands increase and they take charge of their own health care. Rapidly changing demographics create new markets. Many new drugs carry patents that are in effect for a shorter timeframe, and existing patents on 42 major drugs are expiring in the next five years. Salespeople must adapt well to change and remain well educated about the company and the products they represent in order to succeed in their careers.

Several positive changes in the pharmaceutical industry include corporate mergers, vertical integration, alliances, and outsourcing within the industry. Mergers have given rise to larger, more secure companies with greater economies of scale. Alliances have grown the capabilities for research and development ensuring the flow of new drugs. Outsourcing has given rise to contract sales organizations (CSO) in providing an effective way to employ a large sales force. CSOs will be discussed in later chapters of this book.

The U.S, is expected to remain the largest and fastest growing among the world’s ten major drug markets over the foreseeable future. The future is bright and demands qualified salespeople. The market for pharmaceuticals will generate a 6 to 7 percent annual growth in worldwide sales over the next five years and beyond. In fact, prescription drug spending will double in the next five years, according to Merck-Medco Managed Care LLC's drug trend report. The forces that will increase the demand are listed below. Each of these will be discussed in the remainder of this chapter:

• Aging global population and increasing life expectancy
• Increasing incidence of chronic diseases
• Successful industry track record on Wall Street
• Investments in R&D and a constant flow of new drugs
• Innovation and advances in technology
• New markets for pharmaceuticals
• Growing healthcare expenditures and demand for cost-effective health care
• Medicare drug coverage legislation
• Identifying and treating overlooked patient populations
• A high demand for better lifestyle and improved quality of life
• Shorter FDA approval times and relaxed marketing restrictions
• Expanding promotional spending and consumer oriented marketing
• Educated health-conscious consumers
• Industry giants, growth companies, and blockbuster drugs