GSK to change incentives for sales representatives
(Reuters) – British drugmaker GlaxoSmithKline said on Thursday it will change incentives for sales representatives in some countries as it looks to retain talent.
The changes mark a cautious return by GSK to performance based bonuses for sales reps after stopping them for years in response to a bribery scandal.
The company said the changes reflected the shift in GSK’s portfolio towards innovative specialty care products, including oncology.
GSK said it would make changes to its incentive program for pharmaceutical and vaccines sales representatives, to be applied initially in the United States, UK and Canada from July 2019.
In specialty care, the capped variable pay element of a sales representative’s salary will be evaluated on the basis of individual sales targets, it said.
“They will allow the company to attract and retain the best sales force talent, enhancing the quality of our dialogue with healthcare professionals and helping them better serve patients,” it added.
Reporting by Noor Zainab Hussain in Bengaluru; Editing by Jane Merriman