Fanapt Falls Flat! Link from the Street.com

Discussion in 'Novartis' started by Anonymous, Feb 6, 2011 at 2:03 PM.

Tags: Add Tags
  1. Anonymous

    Anonymous Guest


  2. Anonymous

    Anonymous Guest

    The part about NVS returning Fanapt back to Vanda this year is interesting. If so all Fanapt reps will be out immediately.
     
  3. Anonymous

    Anonymous Guest

    Company goal of $85 million for 2011. Dream on. It won't reach have this number.
     
  4. Anonymous

    Anonymous Guest

    No way this drug will grow by 130% this year. The fact that a once a day competitor hits the market this week...it will for sure eat into the profits. Just hope we can get a good severence like the others!
     
  5. Anonymous

    Anonymous Guest

    Not nearly enough to cover sales force costs. Word in EH is the plug will be pulled this year!
     
  6. Anonymous

    Anonymous Guest

    A QD formulation is no doubt being developed. If Fanapt is returned Vanda will need someone to sell it. Probably a CSO like Quintiles. So you Fanapt reps may have a double dip opportunity. Who knows?
     
  7. Anonymous

    Anonymous Guest

    There is no QD formulation. There might be a depot form, but that is it.
     
  8. Anonymous

    Anonymous Guest

    So lets take bets.....how long do these guys have? I give Fanapt reps until August 25th. Lets see who comes closest to the layoff date without going over.
     
  9. Anonymous

    Anonymous Guest

    Fanapt is a sub-par drug. It has moderate efficacy IF the patient sticks with it long enough to get to the right dose. Bottom line is it's a dog. We know it, our managers know it, product management knows it,and our doctors and patients know it. If you think I am a malcontent for pointing out the obvious, just look at the sales numbers. They don't lie.
     
  10. Anonymous

    Anonymous Guest

    I don't think Novartis really understood that only having one indication in today's regulated market was going to kill them. They really thought they would get a fair amount of off label business for bi-polar. It just didn't happen!
     
  11. Anonymous

    Anonymous Guest

    The entire validation process was just stupid! We had child psychs in private practice that treated adults 50% of the time in Community Mental Health Centers. Yet we could not get these physicians validated to be called on for Fanapt and Schizo! We had PA's and NP's working in the CMHC's as well that never got validated! How can you sell Fanapt when half your customer base is missing!

    Once again, the lawyers absolutely ruined everything!
     
  12. Anonymous

    Anonymous Guest

    My guess is June 30th for bye-bye
     
  13. Anonymous

    Anonymous Guest

    Same thing happened here in Texas. We had psychs in state hospitals that were board certified child psychs. However, they had taken jobs in state hospitals because of the shortage of general psychs or for whatever reason. The point is, they were treating adult patients in state hospitals 98% of the time. But because the primary board was child, we could not get them validated as customers. Now, you may say, well, you are getting the DDD business. True, but again, some of these sames psychs also worked the outpatient MHMR clinics treating adult patients. So we lost those scripts as well! The NP's and PA's were another major disaster from a validation standpoint, but that has already been noted.

    A royal screw up by marketing, Novartis lawyers, etc. Let us call on the correct physicians, the NP's, the PA's, anyone who treats adult schizo ages 18-64. Defend us in court if you have to, but if we are ethically trying to do the right thing, can't your high priced lawyers defend us and win? If you don't think we can win, then why have the high priced lawyers?

    Not to worry anymore. I was one of the highest ranked Fanapt reps in the nation. I worked my butt off and was passionate about Fanapt every day! I made a ton of bonus dollars even with the crappy validation system in place. I probably deserved even more bonus when you consider all the scripts I generated that never got tracked because of the validation system. So guess how Novartis rewarded me for all my hard work? I was laid off with 1399 other people.

    Don't worry, there is a happy ending! (No giggles!) On Feb. 26 I will get my $40,000 dollar severance package! Plus, I already have a new job lined up! The company that hired me interviewed some of the psychs that I had called on and then decided to pay me an even higher base salary than I was making at Novartis! To top it off, the new territory I will be working is geographically smaller than my old Novartis territory!

    Honestly, I am not bitter towards Novartis. I enjoyed working for Novartis, I liked my manager, and I liked my district members, plus I am making out like a bandit anyway. I just think it is so sad that companies don't do the RIGHT THING anymore to support their employees who are really trying.

    I should have never been laid off in a million years. But I was. And I am sure an outside consulting firm, a computer, and a lawyer made that decision. But Novartis, YOU let it happen.
     
  14. Anonymous

    Anonymous Guest

    How much is a "ton in bonus dollars?" I didn't think anybody made any money with this drug.
     
  15. Anonymous

    Anonymous Guest

    Oh, some money WAS indeed made on Fanapt. A select few did extremely well with bonus payout. Trust me on this one.
     
  16. Anonymous

    Anonymous Guest

    You are very correct. I also made great bonus on Fanapt. My full payout for the year was $38,000. We got paid 2.5 times the original script payout in the first quarter of the launch. I had some early adopters who jumped on it and prescribed. I made $18,000 in the first quarter alone. However, I am just like the other guy/girl, I also got laid off. Seems like they got rid of a lot of high performers that also unfortunately for us also had high base salaries!
     
  17. Anonymous

    Anonymous Guest

    So some reps made 18 grand and other reps made absolutely nothing. Fanapt or any antitypical uptake is based on state medicaid formulary status. So in states with no PA, no NDC block and/or no step edits, Fanapt utilization was higher. The reps that are still at Novartis who sold Fanapt in restricted areas are getting ones on their performance reviews. Well you could say, "at least you have a job." But the entire performance evaluation system is just wrong. And the business rules used for the last lay off were just wrong too. Novartis is just wrong. I am thankful that I can still support my family but I am so frustrated with this company.
     
  18. Anonymous

    Anonymous Guest

    Some of the Fanapt clinical investigators were based in St. Louis. They also became speakers for Fanapt. I know that some of those reps in the St. Louis metro area made some insane bonuses! Rumors I heard were 50K to 60K for the year.........maybe more?

    Of course, there was quite a bit of off label prescribing going on as well.

    I also agree with the other person who was talking about the validation process. It was a severe headache in my territory as well. I am still missing key physicians that I cannot call on.
     
  19. Anonymous

    Anonymous Guest

    The rumors you heard are pretty damn true, except you've under estimated the payouts. Off label prescribing? Who treats pure schizophrenia? Apparently not many. Most antipsychotics are used off label.
     
  20. Anonymous

    Anonymous Guest

    Believe me, I am looking for a job right now! Fanapt has never taken off in my territory, I have no idea how I survived the layoff! I also have Exelon Patch, Stalevo, and Comtan. What a dynamite portfolio!