When will Lamberto see the big, bloated, bureacracy that is ES? Come on man, shake things up! The leadership still operates like BMS is a giant holding company, not like an agile biopharma. HP partnership is so dated its regressive. BMS is paying a premium in the age of cloud resources. Accenture deal doesn't save the company any money, but no one is held accountable. There is a large group of people who manage contracts. Manage contracts?!? That group has never been sized appropriately. We've spent a fortune on PPM, the project management system, literally millions of dollars, and it is mocked by everyone who uses it. The motto "making it easier to get work done" has become the ironic punch line of executives who express their disdain for the organization. Middle managers are territorial and the politics are at an all time high. Leadership rarely understands the business domain they are supposed to provide service to. And sadly, the rank and file are worn out and uninspired, because they keep getting layed off, while the old boy network at the top takes care of itself. The cronies haven't really changed in a decade. Same cast, same script, no new ideas. People hate being associated with ES.
It's clear Lamberto is ready to retire. He shows no interest in driving the company to meaningful growth. Every quarter we see the games being played to manage to EPS. He and his team under promises EPS and then slightly over deliver but it comes at the expense of not investing in real BMS growth. Wall Street analysts see this game and the fact that Bms hasn't had an R&D day in several years highlights the emptiness of the pipeline. It feels like they are moving deck chairs on the titanic. At some point the board needs to wake up and try and understand why employees are leaving, and there is consistent under performance. There's lots of talking but not much delivery. Can anyone say amylin, Inhibitex some of the recent licensing disasters. Maybe our CEO will comment here
EPS cookery is exactly why Lamberto will give up Eliquis by end of 2015. For all you doubters, remember - It's all about Lamberto.
