Lets face it Wall street wants Brett Saunders to do massive layoffs. It's inevitable at this point. He promised it and he is going to have to deliver big. Teva rallied 8% today on possible layoff news, just imagine, and nothing is even finalized. You are lying to yourself if you think your safe. Allergan is not a safe place anymore.
They are total bastards for announcing layoffs and dates for communication then.... nothing. We need complete change in management with a focus on general medicine sales. 4 layoffs in 5 years... you have corrupted the culture of this company. No one cares anymore and I am dismayed by the number of people who would be fine with being laid off. Be Bold? Finish the year strong? Please....
What is sad is that Allergan has literally went from a great company to crap because of greed. THis starts with Pyott and his desire to ride off into the sunset with $536 million from selling to Actacrap! He threw in the towel. The poison that flowed in with Saunders and company have destroyed the reputation of AGN, not to mention the poor leadership and lack of "know how" to successfully run a company has left the new "growth pharma" entity valued at less today than when the deal closed in March of 2015. Market cap has gone from over $100 billion to $55.807 as of Friday December 9th. Debt is around $30 billion. No surprise with all the bad press, Restasis uncertainty, Botox competitors coming out of the woodwork that AGN has lost a lot of value. Now the issue becomes how well will the M&A pay off that Saunders has spent oodles of money on? Did Nicholson and company do their homework on these companies and phase 2 drugs that they plunked all the money on? Apparently not! NASH looks like a bust! All it will take is a failure in a phase 3 large clinical study to wipe out more market cap as the stock tumbles. Who would buy AGN then? Just for Botox? Botox makes $4 billion/year! I lost my job when these companies merged. I feel for those still employed and dealing with uncertainty about their jobs. AGN is a shit show run by inexperienced circus clowns.
When Actavis bought Forest, the Forest folks took over. They got rid of everyone on the sales side who knew what they were doing on the Actavis side. Urology was morphed into some bastardized mash up with other TA’s. In Women’s Health the literally just launched Liletta and the Forest folks saw fit to get rid of 1/2 the sales force so they could ‘integrate’ their oversized, under skilled and bloated sales reps. They did the same when they purchased Allergan. The ongoing cycle of incompetence is never ending. The current conglomeration was ONLY assembled to sell to Pfizer. Since that fell through over a year and a half ago, the cluelessness has only become more apparent. This will continue until something major happens. What that is? I don’t know, but the foundation is rotten and is crumbling at an increasing rate
I agree w the above poster that said everything that is wrong is the fault of DP. So true!! BS never really had a chance. Everything was screwed for him from the 1st day.
Look DP let money accumulate to get his payoff but Valea was not the suitor he had in mind. BS, whether you like it or not, was a white knight for legacy Allergan. Also what products did Forest or Actavis really have to pay the bills in 2017 - the bills today are paid primarily through legacy Allergan products - so Brent was a savior to Forest and Actavis too. Still haven’t considered unloading generics at the perfect time. He negotiated a great deal with Pfizer and would have finally fully saved these three companies with that move, but it was not meant to be. The reality is Brent is great with one exception - he values his friends more than competent advisors which he does not have and truly that is why we are here imo.
Dear 8 oz baby Jesus Please don’t let my new partner read this thread too. Lol He just needs to keep drinking his 40 ounce beers Andy stay away from these threads
Twisting in the wind. 30 years in R&D. Company is a shadow of what it once was. No optimism here, projects keep getting cancelled and replaced by stupid ones. It's just a job now. They pay me, I come to work. I can bust my butt, dazzle them with my insight and hard work, then priorities change and I'm handed a new project and told to write a report summarizing everything there is to know about what I've been working on. Then it goes on the shelf, never to be read by anyone, as far as I can tell.
They have to waste money sending PC and CNS reps to Dallas for a new indication for Vraylar. 1 1/2 day meeting that could be done online. Flights, hotels, meals, entertainment..... Some of those people will come home and be laid off the next week.
The day Howard Solomon left Forest is when the company turned to shit. Howard Solomon was a great leader who took care of his people.
