Pros
Good work-life balance. Company has moved to reward individual performance. Many benefits if you are able to manage a territory - your manager will leave you alone and not be on your back the whole time. If you were lucky enough to start 10 years ago, then you're a full-time employee with all the benefits/pension etc. If they decide to lay you off, then severance package has been pretty good.
Cons
The whole industry needs to get a backbone and stand up for their right to market medications to customers. They are not allowing reps to develop rapport with physicians essentially by cutting out all the budgets for everything other than 'food'. If you are new, you are most likely going to be on a contract, so - no benefits/pension. With the acquisition of Schering there will be more downsizing. Seems like this is done every year in December. We have moved to multiple products in the bag - I have 4! It makes it very difficult to do your job, when you need to discuss all four products at every visit. You end up spinning your wheels.