Bukwang Pharm. announced its plan to reorganize the hospital sales department into a divisional system starting this March. This plan is part of Bukwang’s effort to make the sales system more aggressive and survive in the pharmaceutical market. The domestic pharmaceutical business has been atrophied due to new government policies targeted at lowering drug prices.
The reshuffle means that Bukwang’s sales activities will be evidence-based rather than relationship-based as done so far, focusing on delivering professional information on the products by equipping the sales force with higher academic caliber. Also, Medical Representatives and Product Managers specialized in the same therapeutic area will work next to each other in the same division, so that more rapid decisions and efficient responses could be made.
Bukwang Pharm. has previously done a successful test-run the divisional system in 2014 by establishing the CNS division separately. This experience helped prepare for the reorganization of the entire hospital sales force.
Bukwang’s hospital sales force will comprise of the pre-existing CNS division and new divisions focused on gastrointestinal, endocrinology and respiratory among others. Leaders for the new divisions were elected to be Seong Ho OH, Soon Il KWON, Soon Woo LEE and Seon Yoon LEE. Bukwang expects that the new system will help them continue clean, strategic and proactive sales and marketing activities.
Bukwang Pharm. has adopted the highest level of CP regulations in the industry since the election of Sang Hoon KIM as the new President and CEO in 2013, establishing scientific and evidence-based sales practice. Also, Bukwang recently acquired a CNS-focused Danish bio-venture and is expanding investment in R&D. The planned reorganization is expected to accelerate new changes to Bukwang.