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Periscope — March 2011 Issue

 

New Business Opportunities for Companies Serving Pharma

March 2011


The PharmSource PERISCOPE provides valuable insight into sales issues and trends for companies that sell goods or services to bio/pharma. It helps you recognize new business opportunities, and overcome sales obstacles. Enjoy the March issue.

The PharmSource Team

313 overall leads for pharma vendors were reported by the PharmSource Lead Sheet in February 2011:

Lead Type February 2011 YTD
Non US 129 299
Early Dev 52 139
Late Dev 53 124
Large molecule 47 127
Small molecule 93 229
Newly-funded 84 209
New sourcing 19 47
Parenteral 68 175
Oral 57 148
Total Leads 313 767

Below are two actual leads from recent issues of the PharmSource Lead Sheet (PLS), the weekly, web-based information service that delivers new business opportunities and key market intelligence information to companies serving Bio/Pharma. It includes new information on products in development, acquisitions, alliances, financing transactions, and more, and delivers up to 70+ fresh leads each week in pharma/biotech companies around the world. Use the PLS to stay on top of opportunities as soon as they’re announced, to keep attuned to market activity and trends, and as a key resource for targeted marketing.

For The Week Of
March, 6th 2011



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This section of the PERISCOPE summarizes just a small sampling of the many recent appointments of new people to high-level positions in pharma/biotech. For more information of this nature, see the “Key Appointments” section of the weekly PharmSource Lead Sheet.


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3 Questions That Will Improve Your Sales

By Kelley Robertson

When I conduct sales training workshops, participants often ask or a couple of strategies that will help them improve their overall results. Here is what I tell them: Do a post-sales call analysis.

Every top performing sales athlete watches video-tapes of their performance after a game or competition. While it may not be feasible to record yourself during a sales meeting you can use this concept to improve your approach. Here’s what you do: after every sales call or meeting ask yourself these three questions.

1. What went well? It’s important to evaluate the positive aspects of your sales calls. Reflect on your last call and identify the things you did well. This can include creating a compelling opening, building rapport, asking the right questions, and gaining agreement for the next steps.

2. What did I miss or forget to do? Even though I have been teaching sales for more than 15 years I still miss or forget to do certain things during sales calls. When you ask this question you can identify patterns in your approach that cost you sales.

3. What will I do different next time? It’s one thing to analyze your current results. However, if you are serious about improving your results, you need to identify EXACTLY what you will do differently in future sales calls.

On the surface it sounds simple. The reality is that most sales people seldom take the time to analyze their performance. Most sales people keep doing things the way they have always done them and they end up getting the same results. Some people get caught up in the day-to-day busyness of their job and forget to analyze their performance. Others simply think analysis is a waste of time.

Here’s a different perspective for you to consider. Top athletes ALWAYS make time for analysis. Watch someone like Tiger Woods. He analyzes EVERY shot after he takes it. He tries to recapture great shots and strives to improve the poor ones. Other athletes take the same approach when they review tapes of their performance. They may grimace over their mistakes, but they still analyze everything.

There are several keys that make this strategy valuable:

The first step is to record your answers. The act of writing your responses helps you internalize what your mistakes and develop a plan to improve. This concept is used in goal-setting and it relevant to sales too. Written response helps you identify patterns and improve your approach which leads me to my next point.

Next, review your observations periodically. You can’t expect to improve your results simply by thinking about you need to do differently. You need to review your performance and watch for patterns. When I first started conducting sales training workshops, I took the time to answer the above three questions after every program. When I reviewed my notes several months later, I realized that I had been making the same mistakes in several of my programs. Without written records, it is unlikely that I would have realized this.

Now practice. Determine what you to do differently and make the time to practice BEFORE your next sales call or meeting. You can’t implement a new strategy into your routine and expect it to work flawlessly unless you rehearse it first. Focus on integrating one concept into your routine instead of trying to use several new techniques at once. Role-play the concept with a co-worker. If this isn’t possible, practice it in front of a mirror or verbalize the strategy before your meeting. This is particularly effective when you plan to ask prospects new questions or when you deliver a presentation.

Finally, analyze your performance…again. Anytime you try something new it is critical that you analyze your results. Ask yourself the three questions presented at the beginning of this article. Record your results and keep repeating this process until you perfect your approach.

About the Author
Kelley Robertson conducts sales training programs and speaks on sales at conferences and meetings. Contact him at 905-633-7750 or Kelley@Fearless-Selling.ca Get your FREE copy of 100 Ways to Increase Your Sales by subscribing to Kelley’s free newsletter, “59 Seconds to Sales Success” at http://www.Fearless-Selling.ca..

Article Source: http://EzineArticles.com/?expert=Kelley_Robertson.

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New Hire Sales Training: It’s Important, It’s Underemphasized, It’s Different

By Richard Ruff and Janet Spirer

A short quiz for sales leaders – How much has the buying process changed in your market in the last five years? Question two – Have you taken a serious look at updating your new hire sales training to keep up with the changes? (Here we are talking about sales skills training not product or welcome-to-the-company training.)

If you are like the sales leaders in many companies, the answer to the first question varies somewhere between: “It has been breath taking” to “A fair amount.”

There is more variability in the responses to the second question. The range sounds something like: “We have taken a pretty serious look at new hire training because it’s a big deal” to “We have been busy with other priorities plus the budgets have been cut so we have postponed….”

If your response to the change question is like most, but your answer to the second question is essentially “not much,” then it is worthwhile to pause. Great new hire sales training can make a difference on some of those bottom-line problems that have been the focus of attention. The larger the number of new hires on board, the greater the impact.

The good news is in the last several years there have been some good things happening in new hire sales training. In the past, new hire sales training has often just been a shorter or simplified version of the sales skill training for the existing sales force. Emerging work suggests sales training for new hires should be specifically designed for new hires. Although the same sales process should be introduced, “what is taught” and “how it is taught” needs to be designed for the unique challenges facing new hires. Four design ideas that have proven to be particularly effective for new hire sales training are:

Expert Video Messaging. Top performers in the existing sales force possess a wealth of experience and insight of tremendous value to new hires. Therefore, for various topics throughout the program, pre-recorded video snippets of different members of the sales force can be used to deliver suggestions and best practices to the class.

These videos can be used to address standard topics like: How to open a call, closing, objection handling, and asking questions. They can also be used to focus on topics uniquely important for new hires: How do you get started in your territory, how do you establish credibility, or if I was starting again, what is one thing I would do differently?

Excellence Modeling. When it comes to new hires, it is very important to show excellence, rather than just talk about it. Therefore for new hire training programs, “scripts” can be developed for selected skill sets that demonstrate what excellence looks and sounds like.

For example, scripts can be particularly effective for getting across the trap of jumping in too soon and doing a “Product Dump” – vs. employing active listening and questioning skills to uncover and explore the customer problem and then presenting your solution. “Bad” and “Good” scripts can be reviewed and discussed to enable the participants to view the interaction from the customer’s perspective and to clearly see the difference between effective and ineffective behavior.

Scenario Analysis. In new hire programs, more pervasive use can be made of real-world scenario exercises. Take the topic Establishing Credibility: real-world scenarios related to challenges for establishing credibility can be presented and the participants asked to develop approaches for addressing the challenges.

The idea is to be more prescriptive – so, one series of exercises might be: play a pre-recorded video snippet providing some best practices about establishing credibility, discuss the best practices on the video, and then immediately get the participants to apply those ideas to customized real-world scenarios about establishing credibility.

Use of Sales Simulations. Sales simulations are often used as a component in programs for the existing sales team. Frequently the simulation is “the most highly” rated part of the program.

A sales simulation can also be a very effective component to incorporate into a new hire program. The caveat is the template used to design the simulation needs to be different. It needs to be simpler: less detailed product knowledge, different customer contacts, and easier sales challenges. Plus, more time needs to be allotted for planning and feedback. One template that works well is a “week-in-the-life” construct. A series of typical situations are presented that a new hire is likely to encounter during a week in their new life; they are then asked to plan and execute sales calls that handle these situations.

Providing new hire sales people a great kick start can go a long way in providing initial confidence and even some early wins. All too often new hire sales training is an area that receives less than the appropriate priority. But the results of great new hire sales training can show up in revenue figures, in turnover numbers, and in some cases in ways not imagined.

©2011 Sales Horizons™, LLC

About the Authors
For more than 30 years Dr. Richard Ruff and Janet Spirer – co-founders of Sales Horizons – have worked with the Fortune 1000 to design and develop sales training programs that make a difference. By working with market leaders – such as UPS, Canon USA, Smith & Nephew, Boston Scientific, Xerox, Covidien, Owens & Minor – we have learned that today’s standard for a great sales force significantly differs from yesterday’s picture. Sales Horizons offers companies a new generation of proven sales training programs designed with Fortune 1000 companies… that you can deliver, modify, and brand to your organization. And the one-time license fee is compatible with today’s economic realities. To learn more about how Sales Horizons helps companies achieve sales success, visit our web site at www.saleshorizons.com/. Or visit our blog at www.salestrainingconnection.com/

This article was reprinted with permission. Article Source: http://EzineArticles.com/?expert=Richard_Ruff.

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Prospect Profile highlights a newly funded bio/pharmaceutical company each month. This includes important insights into the featured company’s product pipeline, manufacturing and business relationships, and likely sourcing opportunities.

Intercell AG

Headquartered in Vienna, Austria, Intercell AG is a public pharmaceutical company that develops, manufactures and commercializes vaccines to prevent and treat infectious diseases. As reported in the February 20, 2011 issue of the PharmSource Lead Sheet, Intercell raised $45.3 million in a private placement.

Sourcing Opportunities

The proceeds will support the advancement of clinical programs and technologies as well as potential partnerships. The financing also may represent sourcing opportunities in clinical trials and manufacturing.

Corporate Highlights

  • 1997: The company was founded.
  • 2005: Intercell became public.
  • Corporate Headquarters: Vienna, Austria.
  • By the end of 2009, the company had 403 total employees, including 83 in manufacturing, 209 at its headquarters and 111 at its US site.

Manufacturing Status

  • The company relies on third party manufacturers.
  • Intercell’s manufacturing facility in Livingston, Scotland, is known as Intercell Biomedical Ltd. The facility produces:
    • IXIARO, the company’s Japanese encephalitis vaccine.
    • More than one million doses per year.
  • The company’s subsidiary, Intercell USA (formerly IOMAI Corporation), in Gaithersburg, MD, has manufacturing capabilities. The site provides:
    • Fermentation.
    • Purification.
    • Formulation of drug substance.
    • Application onto patch.

Business Relationships

  • 2006: Intercell and Kirin Brewery Co Ltd. initiated a collaboration to develop monoclonal antibodies against Streptococcus pneumonia infections.
  • 2006: The company granted Pfizer a worldwide non-exclusive license option for Intercell’s synthetic adjuvant IC31 in selected vaccine programs against infectious diseases.
  • 2006: Intercell and Merck formed an alliance to develop a prophylactic vaccine against Group A Streptococcus infections.
  • 2007: The company and Novartis agreed to develop vaccines to prevent infectious diseases.
  • 2009: Intercell and GSK entered an alliance to develop patch-based vaccines, including Intercell’s pandemic influenza vaccine.

Pipeline

Indication Dosage Form Status Next Next
Anticipated Step
Bacterial vaccine TBA prophylactic TBA Preclinical TBA
Group A Streptococcus antibodies Streptococcus infections TBA Preclinical TBA
Group A Streptococcus vaccine Streptococcus infection prophylactic TBA Preclinical TBA
Group B Streptococcus antibodies Streptococcus infections TBA Preclinical TBA
Lyme Borreliosis vaccine Lyme Borreliosis prophylactic TBA Preclinical TBA
Pneumococcal antibodies Pneumonia TBA Preclinical TBA
Staphylococcus aureas antibodies Staphylococcus aureas infections TBA Preclinical TBA
Clostridium difficile vaccine Clostridium difficile prophylactic Parenteral Phase I Preliminary Phase I results in Q3 of 2011
IC31 seasonal influenza vaccine Seasonal influenza prophylactic Patch Phase I Phase II in 2011
Pneumococcal vaccine Pneumococcal prophylactic Parenteral Phase I
completed		 Studies in target population
Pandemic influenza vaccine Pandemic influenza prophylactic Patch Phase I/II Phase II with GSK
Tuberculosis vaccine Tuberculosis prophylactic Parenteral Phase I/II Phase II in 2011
Hepatitis C virus vaccine Hepatitis C virus infection therapeutic Parenteral Phase II Combined with Romark’s nitazoxanide, Phase II in H1 of 2011
Pseudomonas vaccine Pseudomonas prophylactic Parenteral Phase II completed Complete analysis of Phase II data by end of Q1 of 2011
Staphylococcus aureas vaccine Staphylococcus aureas prophylactic Parenteral Phase II/III Interim analysis in 2011


Finances

(In $ thousands) 2008 2009
Revenues 78,071 86,322
R&D Expenditures 78,488 87,449
General, Selling & Administrative Expenditures 22,528 24,349
Total Operating Expenses 97,383 111,519
Capital Expenditures 71,117 78,953


Contact Information

Intercell AG Key Officers
Campus Vienna Biocenter 3 Gerd Zettlmeissl, CEO
1030 Vienna, Austria Thomas Lingelbach, COO
Tel.: 43 1 20620 Staph Leavenworth Bakali, CBO
Fax: 43 1 20620 800 Reinhard Kandera, CFO
Web: www.intercell.com Roman Necina, SVP, Quality & Regulatory Compliance

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The PharmSource Lead Sheet is the weekly web-based information service that identifies fresh business opportunities for companies serving pharma and biotech. Respected, endorsed and depended on by the top companies, the PLS informs you of new business opportunities. It lowers your prospecting costs, raises the productivity of your sales staff, and helps keep your lead funnel full.

If you’re not yet a subscriber to the PharmSource Lead Sheet, we invite you to take a complimentary test-drive to see for yourself how this service can be a vital tool for growing your market share and building your brand recognition.

Subscribe by March 31, 2011 and

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provides valuable insight into sales issues and trends for companies that sell goods or services to bio/pharma. It helps you recognize new business opportunities, and overcome sales obstacles. Enjoy the February issue.

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