Thursday, June 21, 2012

It's an ill wind

FINS: Losing Overtime is a Win for Drug Reps

Confronted with expiring patents, increased competition from generic-drug makers and potential ramifications of President Barack Obama's health-care law, pharmaceutical companies have been hemorrhaging jobs for well over a year, highlighted by recent rounds of layoffs from Merck, Pfizer, AstraZeneca and Novartis.

So when the Supreme Court ruled Monday that pharmaceutical companies are exempt from paying their salespeople overtime, it seemed as if drug sales representatives were dealt yet another crushing blow.

The ruling may have actually saved the jobs of thousands of pharmaceutical sales reps.

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