Response Genetics Inc has announced that it is expanding the sales force for its ResponseDX™ genetic test panels – proprietary PCR-based tests used to analyze the expression of genes that correlate with response to commonly used chemotherapy agents.
Based on growing demand, the company plans on adding five additional representatives to its sales force by the end of Q1 of this year. With an internal sales force of 15, as well the necessary support and infrastructure, the company will be better able to capitalize on the rapid market acceptance of Response Genetics’ personalized medicine solutions.
“We’re pleased by the sales ramp of our ResponseDX™ tests and attribute this success to the decision to expand our sales force in early 2009,” said Kathleen Danenberg, CEO and president of Response Genetics. “Now, as the benefits of our genetic testing approach are being realized by both new and repeat customers, we are capitalizing on this market opportunity by hiring additional sales people. Through a robust hiring practice and scalable business model, we are continuing to implement a successful growth strategy.”
Recently the company reported a run rate of approximately 1,800 tests per quarter. Sales increased from approximately 500 tests in 2008 to over 4,300 in 2009, with a reorder rate of approximately 90%, and a 40% increase in reimbursement per test – from $1,000 to approximately $1,400.
Source: Response Genetics