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Job Cuts from Major Pharmaceutical Firms Results in Tougher Competition, Says Advance Recruitment
Date:3/1/2012

MANCHESTER, England, March 1, 2012 /PRNewswire/ --

Some of the world's largest pharmaceutical firms announced this month they would be cutting thousands of medical sales jobs in order to slash costs and keep investors happy, exposing the worrying dilemma facing the industry.

Biopharmaceutical giants AstraZeneca were the first to announce further job cuts with another 7,300 positions to be axed in 2012. The company has already seen an extraordinary amount of job cuts over recent years with some 12,600 posts removed between 2007-2009 and a further 9,000 last year.

The company blames a mixture of a rise in generic drug firms, pricing pressure and falling returns on drug discovery as the main causes for the increase in job losses in recent years.

The UK currently prescribes some of the cheapest medicines and drugs in Europe according to the Department of Health and the Government has planned to switch to a system of 'value-based pricing' in a bid to promote innovation within the industry.

Another major firm to announce a series of job cuts worldwide was medical devices group Smith & Nephew.

In an effort to save £94.9million, the company said it would have to lose 7% (800 jobs) of its workforce over the course of three years after profits fell 5.3% to £536million in 2011.

However medical sales and marketing recruitment specialists, Advance Recruitment, remain optimistic with regards to new job opportunities within the sector and instead believe the news regarding job cuts has simply caused the competition for new places to increase.

Nick Langley, Managing Director at Advance Recruitment stated, "The announcement of job cuts from a series of major pharmaceutical and medical device firms does not mean the industry is closed to job seekers, but instead is likely to cause the competition for each available placement to rise.

"The medical sales industry remains particularly popular for graduates a
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SOURCE Advance Recruitment
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