Morning Coffee Jan 28 2011

Prognosis Still Poor for Pharma

By shareen pathak

Caution is the name of the game for pharmaceuticals this earnings season.

AstraZeneca and Novartis both warned in their earnings reports yesterday that patent expirations and U.S. health reform pressures may lead to grimmer times for the companies.

AstraZeneca, which reported a 5% decline in net profit, said in a statement that "the coming years will be challenging for the industry," citing loss of patents and competition from generics. Novartis, which reported a 2% drop in net profit, also pointed out that its Femara and Diovan drug patents are set to expire this year. The company cut 1,400 drug sales reps in the U.S. late last year.

The sector has been hit hard in recent years: product recalls, drug patent expirations, competition from cheaper generics and a slow R&D cycle. Last year, announced layoffs in pharma sales jobs were 45,263.

AstraZeneca and Novartis could not be reached for comment. (AstraZeneca, Novartis)

Sales Buzz

How to Get a Good Reference (FINS)

A reference can make or break a job application. But how do you pick who you should be approaching for a glowing letter of recommendation?

Related: Choose Your References Wisely

Stressful but Lucrative (AOL Jobs)

Account managers rank high in this list of the jobs that are likely to give you a hernia -- but also the means to treat it.

Groupon for Moms (FINS)

Everyone's got it in for Groupon. A mom-centric daily deal website just secured $8.5 million in funding and is looking to at least double its sales force.

Marketing Buzz

I'm Lovin' It (PR Newswire)

There's a new face atop the Golden Arches. Kevin Newell, currently a senior vice president for McDonalds, has been named global chief brand officer for the company.

Big Numbers (Austin Business Journal)

Did you know that the Central Texas advertising industry sustains 28,000 jobs?

Buzz Around the Office

Stupid Humans (Buttersafe)

Internet is to humans as Venus Fly Trap is to bugs.

List of the Day: Why Won't He Call?

Feeling jilted by employers because they just won't return your phone calls. Here's why:

1. They have too much to deal with.

2. Your resume did not stand out.

3. You did not customize your job application.

(Source: AOL Jobs)

For more news you need to know throughout the day, follow FINSider (sales, marketing) on Twitter and Facebook!

Play the new finance career game from FINS!

Financial Dream Jobs - Sign Or Decline
You just got an offer for your dream job,
All of your colleagues are Veterans.

  • Copyright ©2014 Dice Holdings, Inc. All rights reserved.
Log in 
FINS Login
*Indicates required field
User Name*
     Forgot Your Password?
Or log in using your Facebook account:
Connect with Facebook