Verispan Launches Vector One: Indication - The First And Only Service To Enable Indication-Specific Pharmaceutical Sales Compensation At The Territory Level

Pharmaceutical companies would never launch a new product without having a compensation plan in place for their sales representatives. But until now, companies have had to launch new indications for existing drugs without the ability to compensate the sales reps who are most effective at marketing the indication, and better coach reps who are less effective. Verispan solves this problem with Vector One(TM): Indication, the first syndicated product that brings together robust prescription and diagnosis information to enable indication-specific sales compensation at the territory level.

FDA approvals of new indications for existing drugs are more frequent than approvals for entirely new drugs. Vector One: Indication allows pharmaceutical companies to fully capitalize on the opportunities a new indication represents. For example, Verispan just completed an analysis of a topical medication that was recently approved for a precancerous skin condition. The product received FDA marketing approval for the new indication early in 2004, but subsequent use of the drug for the precancerous condition has varied enormously at the territory level.

Nationwide, product use for the precancerous condition increased about 40% in the first 3 months after the new indication was approved. In certain areas, however, use for the new indication grew by over 80%. This suggests that some sales representatives were far more effective than others at educating physicians and obtaining trial and usage of the product for the new indication.

Vector One: Indication can break out product use by diagnosis for virtually all drugs on the market, tapping into a database of over 2 billion integrated prescription, medical and hospital transactions annually. Reports show traditional total prescription (TRx) and new prescription (NRx) measures, but also include Verispan's unique True Patient Measures, which specify true new, continuing and switch/add transactions--all at the indication level. The reports, which can be projected and customized to client specifications, are available from January 2002 to the present. National, state, region and territory-level reports are offered, with breakouts by physician specialty and patient age and gender available as well.

Robert Howard, Director of Product Management for Verispan, said, "We're pleased to have raised the bar once again by delivering yet another breakthrough service for the industry. Last year, we revolutionized the industry by launching Vector One, the first and only product to integrate and project both prescriptions and patients. Now, with Vector One: Indication, we've syndicated indication-specific sales compensation right down to the territory level, a capability long sought by our clients."