Exclusive-Pfizer to cut US sales staff as they switch to virtual meetings with healthcare providers

By Michael Erman

(Reuters) – Pfizer Inc said on Tuesday that US sales staff were shrinking as doctors and other healthcare providers expected to face fewer dealerships with vendors after the COVID-19 pandemic ended.

The move is expected to bring the company more than $ 80 billion in revenue in 2021, thanks to strong sales of the COVID-19 vaccine, developed with Germany’s BioNTech SE (NASDAQ :). That would be a record sale for a pharmaceutical company, he said Pfizer (NYSE 🙂 CEO Albert Bourla.

“We are developing into a more focused and innovative biopharmaceutical company, and we are evolving the way we connect with healthcare professionals in an increasingly digital world,” the company said in a statement.

“There will be some changes in our workforce to ensure that we have the right experience and resources to meet the evolution of our needs.”

The company did not specify how many sales jobs it would cut.

A source familiar with the matter said Pfizer was removing hundreds of positions. The company also plans to create new jobs in different areas for half of those jobs, the source said.

According to a document seen by Reuters, Pfizer estimates that doctors and other healthcare professionals want about half of their future interactions with drug companies to be remote.

Pfizer’s revenue is expected to rise even further this year and is expected to exceed $ 100,000 billion, analysts estimate.

Half of the company’s 2022 sales are expected to come from the COVID-19 vaccine and the new Paxlovid oral COVID-19 treatment.

The vaccine and Paxlovid are being sold directly to governments in the short term.