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Pfizer Will Reduce U.S. Sales Staff As It Expects Healthcare Providers Want Virtual Meetings

Pfizer Will Reduce U.S. Sales Staff As It Expects Healthcare Providers Want Virtual Meetings
Since it expects doctors and other healthcare providers to want to have lesser instances of face to face interactions with people from the sales department of companies after the end of the Covid-19 pandemic and therefore the drugmaker Pfizer Inc would be cutting down on its sales staff in the United States, the company said.
This decision of the company comes at a time when the market is expecting Pfizer to report more than $80 billion in revenue for 2021, driven by the strong sale of its Covid-19 vaccine that it developed jointly with German drugmaker BioNTech SE.

The expected revenue would be a record for a pharmaceutical company in terms of the sale revenues, according to Pfizer Chief Executive Albert Bourla.
“We are evolving into a more focused and innovative biopharma company, and evolving the way we engage with healthcare professionals in an increasingly digital world,” the company said in a statement.
“There will be some changes to our workforce to ensure we have the right expertise and resources in place to meet our evolving needs.”
The company however did not provide any details about how many sales jobs would be cut.
According to news agency Reuters, sources with knowledge of the matter said that the company planned to cut down on a few hundred sales positions. However Pfizer also planned to create new job roles in varied areas in place of about half of the job roles that it planned to cut down, said the report quoting sources.
Reports, quoting documents of the company claimed that the company believes that doctors and other healthcare service providers will want about half of their interactions with drug companies to be through remote methods in the future after the end of the pandemic.

Analysts expect the revenues for Pfizer to be even more for 2022 and estimated it to be more than $100 billion. The Covid-19 vaccination and Paxlovid, the company's new oral COVID-19 therapy, are expected to account for almost half of the company's sales in 2022.
In the near future, the vaccine and Paxlovid will be sold directly to governments.

Christopher J. Mitchell

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