Theratechnologies Strengthens Global Commercial Capabilities by Launching Internal Field Force
Theratechnologies (THTX) announces a strategic shift to an internal sales force, bolstering its U.S. operations. This initiative aims to enhance employee engagement and retention while attracting top talent. The company will integrate key account managers, medical sales liaisons, and community liaisons into its team from a partner contract sales organization. CEO Paul Lévesque emphasizes that this move will improve interactions with customers and drive growth in its commercial franchises, leveraging resumed face-to-face meetings post-COVID.
- Transition from a contract sales force to an internal team expected to boost employee engagement and retention.
- Hiring experienced sales representatives enhances competitive edge.
- Post-COVID recovery facilitating growth opportunities.
- None.
- Top Performing U.S. Based Key Account Managers, Medical Sales Liaisons, and Community Liaisons to join Theratechnologies’ from its current partner contract sales organization
- Higher employee engagement and retention, greater ability to attract top talent and lower turnover rate expected from the move
MONTREAL, Feb. 15, 2022 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (“Theratechnologies” or “the Company”) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced the strengthening of its global commercial capabilities by launching an internal sales force. Also, to better serve patients and health care providers, we will further strengthen our medical affairs team to focus on disease education and treatment alternatives. Top performers of the current field force will join the Company from its partner contract sales organization and new, experienced sales representatives will be hired to create a competitive field force, leading to superior performance and faster growth from our commercial portfolio. Key account managers (KAMs), medical sales liaisons (MSLs), and community liaisons (CLs) based in the United States will join Theratechnologies’ new internal sales and medical affairs team.
Paul Lévesque, President and Chief Executive Officer, Theratechnologies, said, “We now possess the necessary critical mass to bring aboard a dedicated field force — as we aim towards advancing the growth of our commercial franchises. We have witnessed positive headwinds post-COVID, now that face to face meetings have resumed. This and other positive factors have led to the decision to transition from a contract field force model to one staffed by Theratechnologies employees. We are confident that hiring our own field sales and medical affairs colleagues will significantly improve the engagement and ownership of those charged with the important task of interacting with our customers. We fully expect this change will be a driver of future growth and will improve both the recruitment and retention of top talent as we begin this new chapter in the future of Theratechnologies. As we look to expand our sales and medical affairs organization, we are delighted to welcome key members of our contract field force into the Theratechnologies family.”
About Theratechnologies
Theratechnologies (TSX: TH) (NASDAQ: THTX) is a biopharmaceutical company focused on the development and commercialization of innovative therapies addressing unmet medical needs. Further information about Theratechnologies is available on the Company's website at www.theratech.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
Forward-Looking Information
This press release contains forward-looking statements and forward-looking information, or, collectively, forward-looking statements, within the meaning of applicable securities laws, that are based on our management’s beliefs and assumptions and on information currently available to our management. You can identify forward-looking statements by terms such as "may", "will", "should", "could", “would”, "outlook", "believe", "plan", "envisage", "anticipate", "expect" and "estimate", or the negatives of these terms, or variations of them. The forward-looking statements contained in this press release include, but are not limited to, statements regarding the growth of our franchise and key talent retention and attraction.
Although the forward-looking information contained in this press release is based upon what the Company believes are reasonable assumptions in light of the information currently available, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Certain assumptions made in preparing the forward-looking statements include that: the current state of the COVID-19 pandemic will have limited adverse effect on the Company’s operations, including its commercial practices; sales of EGRIFTA SV® and Trogarzo® in the United States will increase over time; the Company’s commercial practices in the United States will not be found to be in violation of applicable laws; the long-term use of EGRIFTA SV® and Trogarzo® will not change their respective current safety profile; no recall or market withdrawal of EGRIFTA SV® and Trogarzo® will occur; no laws, regulation, order, decree or judgment will be passed or issued by a governmental body negatively affecting the marketing, promotion or sale of EGRIFTA SV® and Trogarzo® in countries where such products are commercialized; continuous supply of EGRIFTA SV® and Trogarzo® will be available; the Company’s relations with third-party suppliers of EGRIFTA SV® and Trogarzo® will be conflict-free and such third-party suppliers will have the capacity to manufacture and supply EGRIFTA SV® and Trogarzo® to meet market demand on a timely basis; no biosimilar version of EGRIFTA SV® will be approved by the FDA; the Company’s intellectual property will prevent companies from commercializing biosimilar versions of EGRIFTA SV® in the United States; and we will be able to retain and attract key talents to further our business.
Forward-looking information assumptions are subject to a number of risks and uncertainties, many of which are beyond Theratechnologies’ control that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, those related to or arising from: the continuous adverse impact of the COVID-19 pandemic on (a) the Company’s sales efforts and sales initiatives, (b) patients access to healthcare providers and to clinics; (c) the capacity of the Company’s suppliers to meet their obligations vis-à-vis the Company, (d); the Company’s ability and capacity to grow the sales of EGRIFTA SV® and Trogarzo® successfully in the United States; the Company’s capacity to meet supply and demand for its products; the market acceptance of EGRIFTA SV® and Trogarzo® in the United States; the continuation of the Company’s collaborations and other significant agreements with its existing commercial partners and third-party suppliers and its ability to establish and maintain additional collaboration agreements; the Company’s success in continuing to seek and maintain reimbursements for EGRIFTA SV® and Trogarzo® by third-party payors in the United States; the success and pricing of other competing drugs or therapies that are or may become available in the marketplace; the Company’s ability to protect and maintain its intellectual property rights in EGRIFTA SV® and tesamorelin; the loss of key talents and the difficulty in attracting key talents to fill available positions; the Company’s expectations regarding its financial performance, including revenues, expenses, gross margins, profitability, liquidity, capital expenditures and income taxes; and the Company’s estimates regarding its capital requirements.
We refer current and potential investors to the “Risk Factors” section of our Annual Information Form dated February 24, 2021 available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov as an exhibit to our report on Form 40-F dated February 25, 2021 under Theratechnologies’ public filings. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on forward-looking statements. Forward-looking statements reflect current expectations regarding future events and speak only as of the date of this press release and represent our expectations as of that date.
We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as may be required by applicable law.
For media inquiries:
Philippe Dubuc
Senior Vice President and Chief Financial Officer
communications@theratech.com
514-336-78
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