A Quick Glance:
- Pfizer has decided to cut off the sales staff and build a workforce that increases its expertise.
- Pfizer record $80 million in sales in 2021.
- Pfizer will soon be launching the oral COVID-19 vaccine Paxlovid.
Pfizer, one of the biggest contributors as the COVID-19 vaccine provider, has announced that the company will be cutting off a few jobs from the sales department in the U.S. The company expects the doctors and healthcare providers to have fewer face-to-face interactions with the sales staff after the pandemic ends.
The decision stems from the recent discovery of record-breaking revenue sales in 2021. Amid COVID-19, Pfizer boosted the sale of the COVID-19 vaccine developed with Germany’s BioNTech SE. This led to record-breaking sales—for any pharmaceutical company— where Pfizer can expect over $80 million of revenue from 2021 sales.
Evolving as a Biopharma Company
The Chief Executive of Pfizer, Albert Bourla, stated that there will be some changes in the workforce at Pfizer as the company will ensure they have the right expertise and resources to meet the evolving needs.
Pfizer confirmed in a statement, “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.”
Although, the statement did not hint at how many sales jobs will Pfizer cut off. It is speculated that the company will be eliminating a few hundred positions. Alongside, they will also be creating new positions in different areas for around half of those jobs.
As the world is going digital, they understands that their doctors and healthcare providers will be looking forward to half of the interactions with drug companies shifting to a virtual platform in the future.
New oral COVID-19 Vaccine
The projected sales in 2022 are surging higher and the analyst estimates it to be around $100 billion. Most of these sales are expected to be due to the COVID-19 vaccine Paxlovid, which will be launching in a new oral treatment. In the near end term, the vaccine and Paxlovid will be directly sold to the government.