B&L has been struggling over the past few years . Lots of turnover and not enough revenue from our current products. Adding Ista products to the 2 ophthalmology and optometry sales force makes sense, but the Ista reps will need to be severed. Anyone who has ever been involved in a merger knows that this has to happen. This deal has been going on behind the scenes since last year. Notice on the press release it says reps who are "hired" by B&L. It will definitely be a competive interview process. Hopefully B&L can cut some dead weight and pick up a couple of the best reps and Managers. We need Ista's CEO and Bromday marketing team also.
I am still having back problems from the toyota camry Ista provided for me.. I wish the seat recliner had more options to choose from. Anyway I left voice mail for 30th time with my DM and am Hopeful I will get a new car soon.
Clearly you've never been involved in a merger. The hiring process in a merger isn't a competitive interview process, except on paper in a conference room with accounting and HR....first to go, the HR disasters from BOTH companies....you know who you are. Automatically "severing" a productive sales force that has more of a rapport with the docs than the disconnected B & L reps would be idiotic. Seems like more of an opportunity to clean B &L's mediocre sales force....not many corporate jobs usually integrate....HR is HR and Marketing is Marketing no matter where you go. You don't buy a company for their HR and Marketing Department....you fucking call them and offer them more money to come work for you. The Sales Force is another story. You need their numbers, you need their attitude, and more importantly, you need the relationships they have with customers you want. Although, since YOU clearly have so much knowledge, I'm sure your position is <snicker snicker> secure.
You think this is a equal merger. It is a buyout. B&L bought Ista. They will keep almost all their sales force. Ista people will be plugged into open territories and any small expansion they might do. Also, keep in mind almost the entire Ista sales force has 1-2 yrs experience due to the incredibly high turnover at Ista. I would not just assume all these green reps have all these strong rapport relationships compared to the B&L reps. Hell, look how Bepreve did. It tanked and never performed with this supposedly great sales force selling it. Fact of the matter is most Ista reps will be severed.
Yes, its a buyout on paper. However, has anyone thought that WP may have bought Ista to help consolidate B+L's Pharma division? Poor management, poor results. I do not believe B+L is running the show here. WP wants to clean up, get stronger in sales and marketing, develop a couple new products, then take the company to IPO again. Remember, they are an equity firm; their main goal is to make money. Ista can help them do that. Will their be layoffs? Yes, but it will be more 'trimming of the fat', than wholesale layoffs. On both sides. I fully believe that at the end of the day, you will see a good amount of Ista Sr. Mgmt. and Sales staff intact over at B+L. The one thing Ista reps have done a great job of is selling Bromday. If Ista had had the ability in the past to offer the whole surgical suite (nsaid, steroid, antib), sales would've have been better. Hell, half the leading B+L reps owe their success to partnering with their Ista counterparts.
Hey all you conspiracy theorists..... just shut the fuck up and go back to work. the buyout will take care of itself!
as an outside observer formerly with B&L and formerly involved with a huge pharma acquisition with two monster companies I will tell you this. You both have delusions of grandeur. 90% of most pharma reps are a joke at every company. Upper management knows this. Pharma has become Churn and Burn. Not quite as bad as B2B positions like yellowbook or insurance but it's getting there. You never saw attrition rates like this in the 80s and 90s. Both companies have a ton of dead weight. To even try and talk like ista was a major power house sales team or that B&L is the better team is a joke. I mean this sincerely. But it's time for a reality check and you better all get over yourselves. you market eye drops at both companies. It's not an impressive sales position if you can even remotely call it that. I did it, I know the job. Sold post op, cranked numbers. Still a joke. IMS reporting month to month is a joke. Goals, percent to goal, market share based on whatever we say we are competing against in our market basket. All a joke. I got into med devices. Want the truth. That's a joke now too. Reps bouncing from company to company. See guys at shows they worked for every company at the show. It's stupid. It's all a game. Keep your head up but face reality. B&L does not need any more head count. They are bloated. They suck, but you suck too. They're not going to bring you all in and fire their own people. I'm sorry to tell you. Most of the Ista force and management will be let go wholesale. They bought you. It's over. Your products go in their bags. You get a severance check. Onto the job line. Do yourselves a favor. Go find another job. DO NOT WAIT TO BE LET GO. B&L management are complete dirt bags. You don't want to work there anyway. You have a valid story right now for the recruiter question " why you looking to leave" Company was just bought, time to find something new.
ISTA was purchased because B+L pharma (management, R&D, sales, etc. were failing badly). ISTA management will win this game. They have a much better track record. B+L Pharma is all over planet earth. It will be centralized and ISTA California is where the new Pharma headquarters will be.
this gave me a good belly laugh...I hope you are trying to be funny and not this dumb! If you are this dumb I'm sure you are an ISTA rep!
wow. either you're completely insane or you are joking. can't tell which on here. you got bought. ista is toast. the game is over. your execs will get paid big time. The company is over and the bulk of the workforce is history. you can keep deluding yourself that B&L was failing and they had to buy you. For whatever reason. They bought you. You lose. Main HQ in Rochester, pharma HQ in NJ. state of the art manufacturing facility in Tampa. Yeah... they're going to move pharma HQ to west coast with 3 hr time difference. Uhm... no. When you look at a bottle of advil now, Pfizer's name is on it. They didn't make it. they acquired it from another company who acquired it from another company... no one even remembers who originally made advil now. Do you get the point? it's over. B&L made your products for you. The type set on the label maker in tampa is already changed. They could start stamping out new bottles tomorrow that say Manufactured and Distributed by B+L.
