• Title/Summary/Keyword: Pharmaceutical sales

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Determine Optimal Timing for Out-Licensing of New Drugs in the Aspect of Biotech (신약의 기술이전 최적시기 결정 문제 - 바이오텍의 측면에서)

  • Na, Byungsoo;Kim, Jaeyoung
    • Knowledge Management Research
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    • v.21 no.3
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    • pp.105-121
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    • 2020
  • With regard to the development of new drugs, what is most important for a Korean Biotech, where no global sales network has been established, is decision-making related to out-licensing of new drugs. The probability of success for each clinical phase is different, and the licensing amount and its royalty vary depending on which clinical phase the licensing contract is made. Due to the nature of such a licensing contract and Biotech's weak financial status, it is a very important decision-making issue for a Biotech to determine when to license out to a Big Pharma. This study defined a model called 'optimal timing for out-licensing of new drugs' and the results were derived from the decision tree analysis. As a case study, we applied to a Biotech in Korea, which is conducting FDA global clinical trials for a first-in-class new drug. Assuming that the market size and expected market penetration rate of the target disease are known, it has been shown that out-licensing after phase 1 or phase 2 of clinical trials is a best alternative that maximizes Biotech's profits. This study can provide a conceptual framework for the use of management science methodologies in pharmaceutical fields, thus laying the foundation for knowledge and research on out-licensing of new drugs.

The Structural Relationships between Control Types over Salespeople, Their Responses, and Job Satisfaction - Mediating Roles of Role Clarity and Self-Efficacy - (영업사원에 대한 통제유형, 반응, 그리고 직무만족 간의 구조적 관계 - 역할명확성과 자기효능감의 매개효과 -)

  • Yoo, Dong-Keun;Lim, Jong-Koo;Lim, Ji-Hoon
    • Journal of Global Scholars of Marketing Science
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    • v.17 no.4
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    • pp.23-49
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    • 2007
  • Salespeople act at the point of MOT with customers and deliver the enterprise's message to the customers. They build up relationships with customers as well as deliver the customer's message to the enterprise. The salespeople's activity at the point of MOT with the customers and the degree of satisfaction of the customers' needs will affect the customers' attitude toward the enterprise, brand loyalty, and retention intention. Ultimately, it will influence the enterprise's financial performance. The control of salespe1ople is one of the most interesting topics of marketing. This research investigates the relationships of the control types over salespeople(positive/negative outcome control, positive/negative behavior control) and job satisfaction and their mediating variables. The mediating variables in the relationships have been identified as outcome/behavior-related role clarity and self-efficacy. The purpose of this study is more specifically as follows: First, it investigate how the perception of salespeople control types affect role-clarity. Second, it examines how the perception of salespeople control types influence self-efficacy. Third, it investigate the mediating role of role-clarity between the perception of salespeople control types and self-efficacy. Fourth, it investigates how role-clarity affect self-efficacy and job satisfaction. Finally, it will investigates how self-efficacy influences job satisfaction. Data were collected from the pharmaceutical industry salespeople and analyzed by SPSS 12.0 and AMOS 6.0. The data were collected by 400 respondents and 377 valid questionnaires were analyzed. The results are summarized as follows: First, positive/negative outcome controls had a positive relationship with outcome-related role clarity. Also positive behavior control had a positive effect on behavior-related role clarity, but negative behavior control didn't influence behavior-related role clarity. Second, positive outcome control influenced self-efficacy positively, but positive behavior control didn't have a positive effect on self-efficacy. In addition negative outcome control and negative behavior control had a positive effect on self-efficacy due to the mediating role of outcome-related and behavior-related role clarity. Third, outcome-related role clarity and behavior-related role clarity influenced self-efficacy positively. Behavior-related role clarity had a positive effect on job satisfaction, but outcome-related role clarity didn't influence job satisfaction. Finally, self-efficacy didn't have any effect on job satisfaction. The contributions of this study are as follows: First, existing studies have investigated the direct causal relationship between salespeoples' control type and performance, but this study investigates the structural causality between salespeoples' control types, responses, and performances. Second, this study found the mediating role of outcome-related/behavior-related role-clarity between outcome/behavior control and self-efficacy. Finally, the findings of this study further insight to existing studies on the relationship between job satisfaction and self-efficacy. The confidence of salespeoples' task influenced job satisfaction positively in existing articles,field studies, but the relationship between these two variables was not significant in this study. This means that there can be a different relationship between confidence and job satisfaction according to salespeoples' business. That is, the business environment may not be satisfying, even if the salespeople say that they have ability and confidence about their business. This means that able salespeople who have ability and confidence about their business are not satisfied with their job advancement in the company. Therefore, enterprise need to provide training that can establish a business environment that can satisfy the salespeole's expectation level which will secure good salespeople. This study may have limitation when applied to future studies. First,in this study as with existing studies it investigates the control level that salespeople feel is being measured. Actuality, the control level that a manager enforces and the control level that salespeople perceive when one is late can be different. There is need to measure lateness from both the perspective of the manager and salespeople should be done to supplement this study in the future Second, this study used variables that were connected with action result but salespeople's job satisfaction is due to the result of control. But, focusing on result of control can provide a more important financial result than sales performance. This study is also limited in that it did not consider financial result by result of control. Further studies on this will need to be done in the future. Third, this study may have a further limitation,because the investigation was restricted to pharmaceutical salespeople selling to hospitals. It is necessary to execute investigations in various industries to increase the generalization of the study findings Fourth, in this study, role clarity and self-efficacy by response variable for control and considered job satisfaction by outcome variable of control was considered. But, can other variables be considered beside response variable and result variable for control? For example, can financial affairs and change of post by outcome variable along with business stress by response variable for control be considered? Therefore, future studies need to consider various control variables. Finally, there is limited supporting research in the field of marketing which restricts the generalization of the study finding along with collecting material through random sampling of a limited size. This research summarizes the research in this area, the difference from the previous research, and provides a discussion of its limitations and the need and direction for further future research.

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