Thanks for the increase reps that were let go, your last check will be in the mail. “During the third quarter of 2011, we continued to make positive strides towards establishing Silenor® with prescribers and payers, resulting in Silenor prescription growth of over 24% over the previous quarter,” said Richard W. Pascoe, Somaxon’s President and Chief Executive Officer. “Looking forward into 2012, we will shift the Silenor promotional mix towards more patient-facing initiatives, with the goal of raising the level of consumer awareness for Silenor and increasing sales, while significantly decreasing our operating expenses in an effort to drive towards profitability and to create stockholder value.”
The best part is Mike Allen, the SVP of Sales and Marketing, gets $300K/annum to "manage" some outsourced DTC campaign and 30+ Reps (and their managers). Lesson learned: the lowest revenue producer get paid the most.
