This is my first run in pharma and made it through this cut. I know CP people always say there are going to be layoffs, but can someone with experience in this situation please give their opinion on if there will be another round and when?
There always is. But it's hard to tell on the timing. We have a few drug launches coming up, give it at least 6 months post those drug launches. If trajectory lines don't look good, expect a deep cut. If they look good, then only a minimal cut. Many other factors too, but basically, the more they cut, the more they realize they can do with less. Ask your colleagues from Merck, Pfizer, Novartis, Takeda...you get the picture, they can share similar stories.
Good posts. Forest/Actavis has now entered the true "Pharma Cycle." It's a combo of either "realignment," buy-out or a combo of both and it will never stop. The ending of this story is one of two options: 1-Actavis stays independent but the sales trends aren't as good as needed and the cuts are deep. This will lead to, as was mentioned before, to Actavis leadership seeing less reps/DM's in the field but sales not being all that changed. This will lead to the next step in the cycle and that is more realignment. 2.)Cuts in preparation for a buyout by a larger pharma company, the cuts would be to juice the stock price and such to maximize leaderships cash outs and bonuses prior to sacrifice. The buyout happens and everyone gets cut or close to it. Any one of these will happen in the future of 8-16 months. The initial realignment was light, severance was good because Howard Solomon did good by his people. The next severance won't be nearly has generous. If you haven't started looking for a job you are walking the tight rope. In a few month I would wager that managers start "managing out" reps.
The whole thing is a pile of crap, there are twice as many primary care reps calling on the same offices now. Take a look at the product details, instead of two primary now you have four to five with the same products. It's the same turd it's just now in a bigger toilet.
We're all good for about another 24 months (2 years for those that don't have a calculator)... unless we come out with a cure for Cancer,
BS will sell Actavis. Most everyone does not disagree on that. Question is when. No one knows. But ask yourself how long has it taken him to make his moves historically? He does not tend to wait around.
As a SENIOR MANAGER I find your post sophmoric. OF COURSE there will be MANY MORE LAYOFFS. That's the way business and capitalism work. We continually plan to 'dump load' to improve our performance (akasixsigma) and rid ourselves of the USELESS REPS who focus more on faking calls and working on their knees. If your post id sincere then you truely have NO CLUE and should leave now. If you are having fun then enjoy your tun BUT PLSN ON NEE EMPLOYMENT ELSEWHERE by the end of the year.
4 of us selling the same drugs in the same offices. Let me count the ways of how to differentiate my drug.....blah blah blah. I give it until January before more cuts
Pfizer is the big X factor--we will see what they do and then it will give a little more certainty. They are in the market for a big buy- but it can only be one right now, us, Az, Gsk. After that the only positive is that there are only a small handful of companies that could buy us with the market cap and then probably a couple less that would be interested. Lilly is a good example-- they have the cash, but aren't looking. There are players don't get me wrong, it's just after Pfizer it's only a few.
If Pfizer goes after AZ again the asking price is going to be much to high. Does GSK even have a drug pipeline? If a buyout happens, which is will because Brent Saunders is still here, it will be within 6-18 months. If it doesn't happen then another realignment occurs and it's far, far deeper than the first.
Of course the 'Sr.' Managers get that reps are out faking the calls and just checking boxes...thank goodness senior mgrs. are working hard and delivering results....see'em next year on LI with new title: 'Senior Consultant' aka laid off, too old, too many of them in job market, now looking to hang on for 6 more years.
Does GSK have a pipeline, they have a huge oncology and hiv division and those drugs pay out larger than our top 3 combined. Pharms doesn't live and die in our small scope, we haven't even touched diabetes, nor vaccines.
