The Indian pharmaceutical industry has grown steadily in recent years, as indicated by the increase in production, capital creation, and arrival of new players in the market. While the pharmaceutical sector has had a significant impact on the Indian economy, managing it in today’s complex environment has become challenging. Changes in the global economy, intensifying competition, and evolving industry policies pose challenges for pharma companies.
In India, pharmaceutical companies have transitioned significantly. In the recent past several global brands have been launched. With an eye on revenue growth, companies have grown their sales force, reached new markets and engage in better promotion of their products. Approximately 65% of the total spending of pharmaceutical companies has been on their sales force, which in turn provides the latest information about the drugs marketed, and plays a major role in the decisions made by physicians as to whether the drugs should be prescribed. With such rapid changes in the industry and new drugs continually being developed, physicians need to be continuously updated about products in the industry.
The challenge of pharmaceutical selling is in the trust that is crucial for both physicians and pharmacists, since the industry is a dynamic one. The sales representative receives feedback from the physicians about the drug use, which is passed back to the Research & Development department of the representative’s company. The success of selling in the pharmaceutical sector largely depends on the kind of relationship built with physicians, pharmacists and hospital administrators. In particular, the relationship quality and salesperson’s expertise significantly influence physicians’ trust and decisions.
This article is an excerpt from the interview with Mr. Melvin D’Souza, Vice President and General Manager, Novo Nordisk India Pvt. Ltd. that explains the current state of the Indian pharmaceutical sector, and the sales and distribution challenges faced by its players. We also delve into how Novo Nordisk India is shaping its sales force to face current and future challenges.
