Merck to Cut Spending by 9% by the End of the Year

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Merck will downsize its spending on promotions and sales force by 9% the end of the year. Sources at Merck have stated that spending will include job losses although final figures had not been agreed upon.

According to the Business.com, “the company employs around 60,000 staff worldwide. Figures for its sales force were unavailable from the company, although analysts believe they employ up to 10,000 representatives worldwide. The news comes as a growing number of big pharmaceutical firms, including Pfizer, Sanofi-Aventis and Wyeth, are slashing their sales staff.”

Although Merck is cutting back its man-power, they will be increasing their spending on marketing, specifically to target healthcare insurers and patients. Merck will also redeployed 1,500 sales representatives from its main brands sales force to its growing vaccines division.

Here is the plan detailed by Adam Schechter, president of US human health at Merck, According to the Business.com,

<em>He said: “US human health has the potential to become the most effective and efficient commercial organisation in the industry.” He called for a new model with “new ways of engaging” doctors and “greater productivity” and said the industry had to tackle “declining trust and greater public scrutiny”. He said these problems affected the entire industry. Merck’s tactics to engage consumers are likely to include increased use of websites, videos and email to communicate with patients and doctors.</em>

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