Breaking into Pharmaceutical Sales -The Industry Landscape
Whether you’re a recent college grad looking to land your first job in the pharmaceutical industry, or you are just looking for a career change, there are many opportunities available for the most determined. To make the most of these opportunities, it’s important to understand the unique aspects of the industry and prepare yourself with the right knowledge and skills, but perhaps more importantly, you need to understand your fit.
Understand the Key Players & Trends
Before diving in, read this introduction to familiarize yourself with the major pharmaceutical companies, emerging biotech firms, and the latest industry trends.
It is important to understand what specialty or specialties you would like to be in. Think of what interests you the most. Understanding the competitive landscape and what companies are doing business in them will help lead to your success in both the short and long term.
Did you know that the pharmaceutical sector has 10 + segments to consider?!
The main pharmaceutical sales industries within the field:
1. Prescription Pharmaceuticals: This includes drugs that require a doctor’s prescription, covering a wide range of therapeutic areas like cardiovascular, oncology, neurology, and more. This is the biggest industry in terms of available jobs.
2. Over the Counter (OTC) Medications: These are drugs available without a prescription, including common treatments for issues like pain relief, cold and flu, and digestive health. Many of these products used to be blockbusters and have moved over the counter. Not many companies build sales teams around these, but there are still some that do.
3. Biotechnology: Focuses on biologics, such as vaccines, gene therapies, and monoclonal antibodies, which are derived from biological sources. This is an emerging technology. Often cutting-edge therapies. Think high risk, high reward.
4. Medical Devices: Encompasses diagnostic and therapeutic equipment, from imaging machines to surgical instruments and monitoring devices. This is a huge industry and desirable to many. This a high earning opportunity, you will need to network well to get into many of these companies.
5. Diagnostic Products: Includes tests and kits used for diagnosing medical conditions, such as lab tests, imaging diagnostics, and point-of-care tests. This is a big business, think of Covid tests, many salespeople and companies were put on the map during the pandemic; but don’t just think of Covid, when you see your doctor it is commonplace to run labs and tests.
6. Dental Care: Involves products and treatments specifically for oral health, including dental pharmaceuticals and hygiene products. This seems self-explanatory but there are more companies than you would think in this space.
7. Eye Care: Covers pharmaceuticals and devices related to eye health, such as treatments for vision disorders and ocular diseases. In my opinion, eye care is a hidden gem. There are so many facets to eye care from pharmaceuticals to contact lenses to surgical.
8. Veterinary Medicine: Includes medications and treatments for animals, ranging from pets to livestock. If you have a pet like I do, you know they take preventative medications and they are usually not cheap! Think about where there are high margins, there are bigger sales opportunities.
9. Nutritional Supplements: Involves dietary supplements and nutraceuticals designed to support overall health and wellness. This is emerging but beware many of these companies make claims and statements that are not evaluated by the FDA.
10. Specialty Pharmaceuticals: Focuses on high-cost, complex drugs used for rare or complex conditions, often involving specialty pharmacies. Often these medicines are very expensive and the pull through of the medication is key. Each prescription matters greatly to the patient and the manufacturer. There are usually teams to help get the patient taken care of with as much ease as possible.
11. Specialty Pharmacy Sales: Specialty Pharmacies often promote and distribute specialized medicines for Specialized Physicians. For example: Biologics can often be high-cost, complex medications used to treat rare or serious health conditions. These medications often require special handling, administration, or patient support. Dermatologists and Rheumatologists are two examples of the types of medical practices that may use these medications with the help of Specialty Pharmacies who have become experts at these drugs. Many times, these pharmacies have special distribution agreements with pharmaceutical companies.
*For a fairly comprehensive list of Pharmaceutical Companies currently operating in the United States, visit:
PhRMA’s Member Directory on their website. PhRMA Org | PhRMAFDA’s Drug Approval Database to see approved pharmaceutical companies. Drug Approvals and Databases | FDADrugs.com Pharmaceutical Company Directory Pharmaceutical Company Directory (drugs.com)
As you embark on your journey into the pharmaceutical industry or tangential parts of pharma, remember that success comes from preparation, persistence, and leveraging the right resources.
Check back and follow for more posts on this blog to help you better understand the pharmaceutical sales industry. I will have additional articles diving into how to land that job and be successful. Stay tuned!
For those looking to gain an edge, Rithm at GetRithm.com offers an invaluable tool that gives insights tailored to help newcomers break into the field and thrive in their careers. Equip yourself with the knowledge and skills you need and let Rithm guide you toward achieving your professional goals in the dynamic world of pharmaceutical sales.