Valeant's MO when it comes to buying other companies

Does Valeant usually keep the sales force of the company they buy or do they let them go? Do they let them go immediately or after a few months?

 

Do you live in a fucking cave?

 

It depends on the terms of the acquisition. In the case of Medicis, they willfully let Valeant purchase them and it seems they agreed upon a split wherein they laid off both Valeant and Medicis employees. I don't know how they decided who would be let go on Medicis' side, but on Valeant's side, the layoffs gravitated towards newer hires.

With Allergan, I don't know how it would happen. I don't think Valeant's ever gone hostile before.

 

Thank you.

 

I don't think the hostility will have much to do with what they do with the field based employees.

If and when this happens you will hear terms like "best of the best" and "everyone a leader"

They will probably keep a decent amount of reps because Allergan has better reps with more tenure... however, you will probably have to take a pay cut.

 

http://blog.newconstructs.com/2014/06/30/cutting-valeants-story/

 

How soon did the lay offs occur after the acquisition??

 

Pretty soon after, less than a month if I remember correctly.

But again, every acquisition is different. Another commentator chimed in that a hostile bid doesn't necessarily have any impact on how layoffs are conducted, and that's true. It's kind of a toss up. But I am certain there will be large layoffs. It really is their MO.

It's just sad that analysts speculate this deal will go through. Actually, it's a sad commentary on investors. Anyone who has read the facts surrounding Valeant can see that their bid for Allergan is morally and financially egregious. There are so many suspicious circumstances regarding the timing and aggressiveness of this bid.

 

layoffs started day of closing w black folders

 

The B+L Acquisition was finalized on August 6th and on August 6th, over 500 people were let go. The news reported 400, but the list had well over 500 people on it. They didn't have to report all the numbers (ie. If you were hired within 6 months of acquisition, you weren't included in the 400 total, neither were contractors). White folders were given rather than black.

 

Mostly HQ people will bear the brunt of the layoffs. Maybe half of the sales force since there is so much overlap. The sales force will be a blend of current Valeant and Allergan. That's right... BEST OF THE BEST!

 

Reliable inside source says,that top 1/3 of Derm Reps at VRX will be given aesthetic opportunities after AGN reps are let go.

 

....that is odd. Reliable inside sources say more like 2/3 the rather than 1/3...
(Shrug). Just giving accurate info here and not trying to lie to anyone.