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Weekly pill dispensary: A summary of the week’s healthcare marketing news

Friday, July 30th, 2010

Bonuses For GSK Pharma Sales Reps Won’t Be Tied to Sales This story really had me scratching my head.  GSK has gone from 9,000+ reps to only 2,000+ reps in three years and from what I know was really pushing reps hard to sell.

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Stocks Gain on Good News – Dave’s Daily

Tuesday, July 27th, 2010

Monday started well for stocks continuing a rally from the previous three trading days. A good outlook from FedEx and better than expected New Home Sales data got bulls pumped-up

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King Pharma Rep Denied Overtime By Federal Court

Monday, July 26th, 2010

In the latest twist in the ongoing battle over whether sales reps should be paid overtime, a federal court in New Jersey last week ruled that an Alpharma rep is exempt from the overtime provisions of the Fair Labor Standards Act and, therefore, should not be paid overtime (Alpharma is now owned by King Pharmaceuticals). The decision contradicts a US Labor Department brief filed recently in a Novartis case supporting overtime payments ( see here ) and, moreover, continues a very confusing trend in which different federal courts have come down squarely on either side of the issue, prompting some lawyers to say the debate is increasingly likely to end up before the US Supreme Court, even as drugmakers accelerate plans to eliminate more sales reps. A primer: the FLSA’s overtime compensation requirement doesn’t apply to employees who work as outside salespeople, but the law does require employers to pay overtime for hours worked beyond 40 hours a week, unless a FLSA exemption applies

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Novartis Pays $152M To Settle Discrimination Claims

Thursday, July 15th, 2010

Two months after a federal jury told Novartis to pay $250 million in punitive damages for engaging in a pattern of discrimination against female employees, the drugmaker has agreed to pay as much as $152.5 million to settle the sex discrimination class action lawsuit brought by female sales reps ( background ). The money will to go to eligible class members – $60 million for back pay and an $40 million for compensatory damages

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Is the entire system is corrupt to the extent that we can’t trust the data ?

Saturday, July 10th, 2010

In an interview on Friday, Dr. Jerome P. Kassirer, a former editor of The New England Journal, said the Record trial raised the question “whether the entire system is corrupt.” “To the extent that we can’t trust the data,” he added, “we are in jeopardy of giving patients the wrong drugs.” And how does GSK respond to this report ?

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Is the entire system corrupt to the extent that we can’t trust the data ?

Saturday, July 10th, 2010

In an interview on Friday, Dr. Jerome P. Kassirer, a former editor of The New England Journal, said the Record trial raised the question “whether the entire system is corrupt.” “To the extent that we can’t trust the data,” he added, “we are in jeopardy of giving patients the wrong drugs.” And how does GSK respond to this report ?

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Novartis Should Pay Overtime To Sales Reps: Judge

Wednesday, July 7th, 2010

In the latest victory for sales reps, a federal appeals court ruled Novartis reps are not exempt from overtime provisions of the Fair Labor Standards Act and, therefore, should be paid overtime. The same court also upheld a similar decision reached last year against Schering-Plough by a federal court, which denied a motion to dismiss a case brought against the drugmaker by some of its sales reps (see the rulings here and here )

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Australian shares skid as rate decision awaited

Tuesday, July 6th, 2010

TOKYO (MarketWatch) — Australia’s benchmark S&P ASX 200 slipped 0.9% to a seven-week low in early trading Tuesday, as investors awaited a policy decision later in the session from the Reserve Bank of Australia to gauge the outlook for the global economy. The central bank was expected to hold its policy rate steady, so traders will focus on what its statement says about economic conditions.

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Video game sales rise in May

Thursday, July 1st, 2010

SAN FRANCISCO (MarketWatch) — Sales of video game software rose 4% in May, according to data released Thursday by the NPD Group. The rise came in lower than expectations by Wall Street analysts, who predicted growth in the low double-digits for the group. Data for May sales was delayed for a few weeks as NPD upgraded its internal systems

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Abbott Should Pay Overtime To Sales Reps: Judge

Monday, June 14th, 2010

In a victory for sales reps, a federal court judge has ruled Abbott Lab reps are not exempt from overtime provisions of the Fair Labor Standards Act and, therefore, should be paid overtime. The ruling, which came in the form of a summary judgment and is now headed to trial to determine damages for about 80 Abbott reps, is the latest in a highly contentious decision that has divided courts across the country and, some lawyers speculate, could eventually reach the US Supreme Court. The FLSA’s overtime compensation requirement doesn’t apply to employees who work as outside salespeople, but the law does require employers to pay overtime for hours worked beyond 40 hours a week, unless a FLSA exemption applies

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