1000 Job Cuts! Deja vu

http://www.firstwordpharma.com/node/1248643?tsid=28&region_id=6#axzz3KI6Y0KX8

How many times we've seen this over the past few years? This reflects the inconsistency in strategy that we have. We go behind something and 2-3 years later we decide to go the other direction. The company spent millions of dollars on a project called China 2020. The market is about branded generics and not specialty products. BMS decided to get rid of its branded generic business in 2007 so well before China became the center of attention. When we asked how would China become a major market if we don't satisfy the real need of the market i.e branded generics, we used to get an angry response from the CEO asking people to focus on what they do! The shareholder money again was thrown in the garbage!