CVS Health Corporation is the largest retail pharmacy chain in the world, with about 1600 stores across the United States. While most people might not know what CVS is (after all, there are a lot of them around), everyone knows what Viagra is. Introduced in 1998, Viagra is the best-selling drug of all time, with 210 million prescriptions written globally as of 2015.
It’s fair to say that Viagra is the Swiss Army Knife of pharmaceuticals. Thanks to its sildenafil citrate ingredient, which helps improve blood flow to the penis (among other effects), men with erectile dysfunction (ED) have had great success with Viagra, especially since its patent protection expired in 2012. Since then, competitors have come up with a slew of generic alternatives to take its place, making it even more affordable for the average person.
If you’re interested in expanding your product offering and want to try your hand at selling prescriptions, you’ve come to the right place. We’re going to walk you through how to sell Viagra to CVS, step by step. Let’s get started.
Find The Best Place To Market The Drug
Before you start trying to sell prescription drugs like Viagra, it’s important to find the best place to market them. Remember: your main goal is to make money, so you want to find the most profitable spot you can. One option is to try and sell the drug directly to the consumer. However, oftentimes, that’s not the best route. For one thing, you’ll have to convince the customer that their specific medical condition allows them to benefit from your product, and that it won’t interfere with any other drug they might be taking (especially since generic Viagra is highly compatible with other medications).
Your other option is to try and wholesale the drug to large chains like CVS. There are a few things you need to keep in mind before doing this, though.
Consider The Best Time To Market
The best time to market any product is when there are still people around who need or want what you’re selling. Otherwise, people might not know or remember what you’re referring to, especially if you try and sell a sophisticated product like Viagra. It’s always a good idea to try and buy at the best time and from a reputable source, but that rule doesn’t stop when it comes to pharmaceuticals. The key is to find the right supplier who can get the best price possible without fear of shortage. One important thing to keep in mind is what is known as the 24-hour mark. This is the time when most people will be looking for their daily medication, so if you want to maximize your sale, try and get your product out there at this time. Since many people are afraid of taking medications that can’t be reversed, this is usually the best time to launch a new product.
Set A Budget
Budget is important because you never know how much you’ll need before you start making sales. You won’t know how much money you’ll need to make until you start talking to customers and creating a track record. One of the best things about working with a reputable drug company like CVS is they’ll typically budget enough money for you to start selling. You won’t have to worry about how much you’ll need to spend. Once you start making sales, you’ll have to decide how you want to spend your earnings, but your income will always be enough to cover your expenses. If you want to keep making money, try and sell as much as you can as quickly as possible. This is usually when large chains like CVS get involved. They’ll try to maximize their profits by buying in large quantities and keeping the profit margin as high as possible. For example, if CVS knows they can get the drug for less money when they buy in bulk, they’ll try and take advantage of that fact. This will help you as a drug representative because it means you can offer them a better price than they would have otherwise paid. It also helps keep your expenses low, which makes your job as a drug rep more affordable. Setting a budget is important because it helps you plan out how much you’ll need to spend before you start making sales. It also helps prevent you from spending too much money on things you don’t need, like an expensive car or a fancy house.
Decide Whether To Offer Free Samples
Whether you decide to offer free samples or not is up to you, but people who are new to drug sales usually choose not to offer them because they don’t have enough product to give away. Since people are more likely to purchase a medication they’ve never tried before, they’ll typically walk into your drug store with a list of questions. Sometimes, they’ll even need a sample just to be sure that what they’re buying is what they’re asking for. In situations like this, you can either choose to give them the free sample and have them come back later to make a purchase, or you can say no and hope they’ll find another pharmacy that’s better suited to their needs. Remember: you’re selling a medication and not a house plant or an outfit for kids. When someone is new to drug sales, they’re usually very wary of purchasing something that they’ve never tried before, so it’s important to remember that when you approach them with a list of medication questions, they’re already somewhat wary. They don’t need to be sold on the idea of taking a medication they’ve never tried before. So, while it’s understandable that you’d want to offer them a sample as a courtesy, ultimately, you’re selling drugs here, so you might end up turning a profit regardless.
Get The Drug Approved By The FDA
One of the most important things you need to do before you start trying to sell any drug is to get the drug approved by the FDA. Without this approval, you can’t legally sell the medication in the United States. It takes some time to get the drug approved, so you need to begin the process as soon as possible. To get the drug approved, you’ll need to file a PMA (Prescription Drug Marketing Act) document with the FDA. This is a legal document that proves that you are indeed a licensed drug representative and that the medication you’re promoting is approved for sale by the FDA. You can’t sell the medication without this approval, so it’s important that you get it as soon as possible. One of the best things about working with a reputable drug company like CVS is they’ll usually get the drug approved within a month of submitting the PMA document.
Create A Sales Kit
Once you have the drug approved by the FDA, it’s time to create a sales kit. This is a folder filled with all the information your prospective customers will need to make the purchase. Include all relevant documentation, including the FDA approval letter, copy of the PMA document, etc. As a drug rep, you’ll be handing this information out to clients one-on-one, so be sure to print out extra copies for yourself. You can use a tool like Foldersize to help you decide what information to include in your kit. Remember: you’re building a relationship with your customers, so be sure to hand out as much relevant information as you can. If you’re new to drug sales, your customers will be the key to your success. You won’t be able to sell a high dose of medication without having a good relationship with your customers. This means you should put in the time to get to know them and understand their needs. Be sure to include all the relevant information in your sales kit, and don’t forget to grab a pen and some paper to make a list of all the questions your customers have. You can also choose to use a tool like Hello Doctor to get all the information you need in one place. Just remember: while all the information you need is important, nothing beats getting a real live human being to talk to, so be sure to make the most of those interactions.
Sell The Drug In As Is Condition
Now that you have all the necessary information ready, it’s time to start selling the medication. One of the most important things you need to do is to take the drug as it is and not try and manipulate or change it in any way. If a customer asks you to modify the medication in any way, say no. If they ask for a higher or lower dose than what is recommended, say no. Some people will try to sell you an unapproved or newly approved drug, so be sure to check with the FDA first. Since this is medical medication, you won’t be able to sell it unless it’s been prescribed for the specific condition it is intended for. If you’re not sure about anything, it’s best to say no and hope for the best. This is why it’s important to get the drug approved by the FDA before you start trying to sell it. The last thing you want to do is break the law by manufacturing and selling an unapproved medication.