Benzinga | Sep 15, 2021 08:16AM EDT

Exact Sciences 8-K Shows Co. Expanded Its Primary Care Sales Team To Increase Adoption Of Cologuard, Its Pipeline Of Cancer Screening Tests

On September 15, 2021, Exact Sciences Corporation ("Exact Sciences") announced it has expanded its primary care sales team to increase adoption of Cologuard(r), the first and only FDA-approved, at-home colon cancer screening test, and its pipeline of innovative cancer screening tests. In late August, Pfizer Inc. ("Pfizer") announced internally that it decreased the number of sales positions supporting its Internal Medicine therapeutic area. The displaced employees had been promoting Cologuard under an agreement between Exact Sciences and Pfizer (the "Promotion Agreement"). Exact Sciences offered the displaced Pfizer sales representatives opportunities to join its team in full-time sales roles promoting Cologuard, and the vast majority of those offers were accepted. Exact Sciences completed an expedited hiring process and onboarded approximately 400 sales representatives in September, increasing the size of its primary care field sales team to more than 850 representatives.



Exact Sciences expects the newly hired representatives to be more productive as its own employees, fully dedicated to its mission to eradicate cancer, and better able to coordinate interactions with health care providers as one team. Exact Sciences' newly expanded team is in the field and interacting with health care providers in person, focused solely on Cologuard initially.



Pfizer is currently promoting Cologuard with a smaller team under the Promotion Agreement; however, due to its recent COVID-19 internal policies, which are different from Exact Sciences', Pfizer is not making in-person sales calls in 41 states. Exact Sciences is in discussions with Pfizer that could result in material changes to the Promotion Agreement and its relationship with Pfizer.