TargetRx's Mike Luby to Keynote at Pharmaceutical Executive's Marketing & Sales Summit
Luby to detail key sales force drivers of physician prescribing and discuss use of metrics to manage sales force quality and improve brand performance
Horsham, PA - June 9, 2006 - TargetRx, a pharmaceutical sales and marketing effectiveness company, today announced that CEO Mike Luby will deliver a keynote presentation at the upcoming Pharmaceutical Executive Marketing & Sales Summit, held June 12-14, 2006 at the Doubletree Hotel in Philadelphia, Pa.
Luby will present "Managing Sales Force Performance: Quality vs. Quantity" on June 13, 2006 at 12:00 p.m. Through case studies and key data from TargetRx's recently-launched Sales Force Quality Analysis, Luby will outline the critical drivers that effect physician prescribing and will detail the key metrics pharmaceutical companies can leverage to increase sales and marketing effectiveness and improve market share.
The first conference from Pharmaceutical Executive, a global business and marketing magazine for pharmaceutical executives, the Marketing & Sales Summit is a forum for leaders within the pharmaceutical industry to discuss current challenges, highlight leading-edge solutions for enhancing sales force effectiveness, ensure marketing's role in effective lifecycle management, and monitor the future of the pharmaceutical industry through new initiatives.
"While there are many challenges that pharmaceutical executives face in today's environment, improving the effectiveness of sales and marketing makes the short list for every company in the industry," said Mike Luby, CEO of TargetRx. "While it is a big issue, we see it as the most readily addressable. In assessing sales and marketing effectiveness, the industry has focused on quantity of effort, resulting in an 'arms race' battle over share of promotional voice with physicians. What's been missing have been powerful metrics to measures sales force quality, providing insight into which components of both sales and marketing execution are effective and which are not. By pinpointing the key drivers that effect physician prescribing, sales and marketing teams are empowered with the information they need to drive brand performance."
As founder and CEO of TargetRx, Luby brings more than 15 years of pharmaceutical marketing and sales experience from a variety of therapeutic areas. Under Luby's leadership since being founded in 1999, TargetRx has succeeded in raising over $50 million in capital, expanding its team to approximately 100 employees, and securing clients in the majority of the top 30 pharmaceutical companies worldwide. Luby is also the lead author on TargetRx's patent-pending method of analyzing the effectiveness of marketing and sales strategies. Prior to forming TargetRx, Luby spent 10 years at Merck & Co., Inc., where he created and executed marketing strategies for both the specialty and mass markets. The concept for TargetRx was born from his dissatisfaction with the lack of insightful, predictive and actionable marketing information from external sources during his tenure at Merck.
About TargetRx
TargetRx provides pharmaceutical and biotech companies with unique insight into the true drivers of product choice and adoption for their brands, helping clients to confidently take the actions that will grow their businesses and help patients. Serving the majority of the top 30 pharmaceutical and biotech companies, TargetRx enables clients to significantly improve the launch of new products and indications, physician segmentation and targeting, creation of professional messaging and materials, and sales and marketing execution and effectiveness. All TargetRx solutions are powered by our AdvantageBuilderSM normative database and validated predictive models, created from capturing in-depth physician attitudes on the "four forces" of prescribing - product, payor, promotion and patient - on new launches, marketing campaigns and physician-rep interactions on over 500 pipeline and inline brands and modeling these attitudes against actual prescribing behavior. For more information, visit www.targetrx.com.
Media Contact:
Joe FordPhone: 215-444-8722
jford@targetrx.com