GSK shares pounded after Q2 earnings miss

Anonymous · Sep 13, 2014 at 9:23 AM

Anonymous said: ↑

Dear JB,

Please refer to post #7 and tell us how your strategy is working out. Can you please also let us know what rebate % you had to give to now get Advair back on formularyfor 2015. You and your cronies from LILLY have destroyed this company and peoples careers. As a stock holder and 22 year employee of the company i just can not understand how you continue to keep your job, yet all the people around you have taken the fall.
Click to expand...

JB wins (financially), regardless of our performance. Check back in after he "leaves for other opportunity".

Anonymous · Sep 13, 2014 at 2:03 PM

Wonder if he takes the dentist with him?

Anonymous · Sep 18, 2014 at 6:37 AM

Anonymous said: ↑

While there is always equal blame to go around, i.e. managed care and sales reps execution, this situation regarding Advair, falls directly on Jack B., Mark Johnson, Rob Yagt, Tom Scales. In spring, summer and fall of 2012, the ESI team was in very contentious negotiations with ESI. ESI negotiations team was lead by the former Medco team, Ed A. and Jason. The ESI/Medco team asked that rebates simply be aligned between the two PBMs now that they were ONE organization. In other words, bring the ESI rebates up to the Medco rebates and the negotiations would be over and Advair would be secured thru 2015. In addition, the ESI team asked and received confirmation that ESI/Medco would give priority review to Breo when it was launched.(not to be confused with a guarantee formulary placement). Additionally, Lovaza, Jalyn and Avodart were protected with little incremental investment. All toll, the cost to protect the franchise was an incremental $20m-$22 in rebates.

Not only did the above mentioned senior leaders say NO....they wanted to PULL BACK rebates to the tune of $5m. Thats right, the brain trust wanted to money back despite the fact that the new PBM was providing pharmacy benefits to approximately 80m-100m(depending on how you count it) individuals.

As any one could predict, their was a meltdown in Franklin Lakes NJ. Eddie A and Jason informed GSK they were going to move against Advair beginning in 2014 and it would be painful for the organization. The above mentioned leaders were just simply belligerent. They indicated in no uncertain terms that ESI leadership had no idea what they were doing and how much disruption and patient unrest this would cause. Adding, that "advair has 85% market share and there is no way Symbicort or Dulera would pick up the slack.

The negotiations went back and forth for the entire 2012 period. It was reported that negotiation even went on in 2013 for a bit. However the arrogance and recklessness of the senior leaders was only surpassed by their ignorance of the managed care marketplace. They gentleman had no idea what they were doing. However, if you were to ask them, because they had done such a stellar job at Lilly, they knew what they were doing. After all, they were akin to, as was depicted in the CNBC expose on Enron, "The smartest guys in the room".

They were warned that not only could ESI do this, BUT THAT THEY WERE GOING TO DO THIS! They were simply incompetent.

Read the Bloomburg news story today....even the analyst, James Hay hints at the incompetence of management.

How these gentleman have jobs when they cost GSK and its shareholders more $300m dollars in lost sales of Advair alone, is stunning.

I am no rocket scientist but investing $20-$22m to protect $300-$400m seems to be a good ROI. But you alway have Patient First...yeah thats a great ROI.

Amazing how any of them still have their jobs
Click to expand...

Can anyone please provide for me a list and addresses of the members of the BOD. I am going to mail each member a copy of the attached. Thanks in advance

Anonymous · Oct 12, 2014 at 7:04 AM

Anonymous said: ↑

While there is always equal blame to go around, i.e. managed care and sales reps execution, this situation regarding Advair, falls directly on Jack B., Mark Johnson, Rob Yagt, Tom Scales. In spring, summer and fall of 2012, the ESI team was in very contentious negotiations with ESI. ESI negotiations team was lead by the former Medco team, Ed A. and Jason. The ESI/Medco team asked that rebates simply be aligned between the two PBMs now that they were ONE organization. In other words, bring the ESI rebates up to the Medco rebates and the negotiations would be over and Advair would be secured thru 2015. In addition, the ESI team asked and received confirmation that ESI/Medco would give priority review to Breo when it was launched.(not to be confused with a guarantee formulary placement). Additionally, Lovaza, Jalyn and Avodart were protected with little incremental investment. All toll, the cost to protect the franchise was an incremental $20m-$22 in rebates.

Not only did the above mentioned senior leaders say NO....they wanted to PULL BACK rebates to the tune of $5m. Thats right, the brain trust wanted to money back despite the fact that the new PBM was providing pharmacy benefits to approximately 80m-100m(depending on how you count it) individuals.

As any one could predict, their was a meltdown in Franklin Lakes NJ. Eddie A and Jason informed GSK they were going to move against Advair beginning in 2014 and it would be painful for the organization. The above mentioned leaders were just simply belligerent. They indicated in no uncertain terms that ESI leadership had no idea what they were doing and how much disruption and patient unrest this would cause. Adding, that "advair has 85% market share and there is no way Symbicort or Dulera would pick up the slack.

The negotiations went back and forth for the entire 2012 period. It was reported that negotiation even went on in 2013 for a bit. However the arrogance and recklessness of the senior leaders was only surpassed by their ignorance of the managed care marketplace. They gentleman had no idea what they were doing. However, if you were to ask them, because they had done such a stellar job at Lilly, they knew what they were doing. After all, they were akin to, as was depicted in the CNBC expose on Enron, "The smartest guys in the room".

They were warned that not only could ESI do this, BUT THAT THEY WERE GOING TO DO THIS! They were simply incompetent.

Read the Bloomburg news story today....even the analyst, James Hay hints at the incompetence of management.

How these gentleman have jobs when they cost GSK and its shareholders more $300m dollars in lost sales of Advair alone, is stunning.

I am no rocket scientist but investing $20-$22m to protect $300-$400m seems to be a good ROI. But you alway have Patient First...yeah thats a great ROI.

Amazing how any of them still have their jobs
Click to expand...

Just wanted to say thanks to JB for my 22% payout. Keep up the good work. Have never met such an arrogant person in my life. But please remember, he is smarter than everyone else. Just ask him.

Anonymous · Oct 12, 2014 at 7:07 AM

Anonymous said: ↑

While there is always equal blame to go around, i.e. managed care and sales reps execution, this situation regarding Advair, falls directly on Jack B., Mark Johnson, Rob Yagt, Tom Scales. In spring, summer and fall of 2012, the ESI team was in very contentious negotiations with ESI. ESI negotiations team was lead by the former Medco team, Ed A. and Jason. The ESI/Medco team asked that rebates simply be aligned between the two PBMs now that they were ONE organization. In other words, bring the ESI rebates up to the Medco rebates and the negotiations would be over and Advair would be secured thru 2015. In addition, the ESI team asked and received confirmation that ESI/Medco would give priority review to Breo when it was launched.(not to be confused with a guarantee formulary placement). Additionally, Lovaza, Jalyn and Avodart were protected with little incremental investment. All toll, the cost to protect the franchise was an incremental $20m-$22 in rebates.

Not only did the above mentioned senior leaders say NO....they wanted to PULL BACK rebates to the tune of $5m. Thats right, the brain trust wanted to money back despite the fact that the new PBM was providing pharmacy benefits to approximately 80m-100m(depending on how you count it) individuals.

As any one could predict, their was a meltdown in Franklin Lakes NJ. Eddie A and Jason informed GSK they were going to move against Advair beginning in 2014 and it would be painful for the organization. The above mentioned leaders were just simply belligerent. They indicated in no uncertain terms that ESI leadership had no idea what they were doing and how much disruption and patient unrest this would cause. Adding, that "advair has 85% market share and there is no way Symbicort or Dulera would pick up the slack.

The negotiations went back and forth for the entire 2012 period. It was reported that negotiation even went on in 2013 for a bit. However the arrogance and recklessness of the senior leaders was only surpassed by their ignorance of the managed care marketplace. They gentleman had no idea what they were doing. However, if you were to ask them, because they had done such a stellar job at Lilly, they knew what they were doing. After all, they were akin to, as was depicted in the CNBC expose on Enron, "The smartest guys in the room".

They were warned that not only could ESI do this, BUT THAT THEY WERE GOING TO DO THIS! They were simply incompetent.

Read the Bloomburg news story today....even the analyst, James Hay hints at the incompetence of management.

How these gentleman have jobs when they cost GSK and its shareholders more $300m dollars in lost sales of Advair alone, is stunning.

I am no rocket scientist but investing $20-$22m to protect $300-$400m seems to be a good ROI. But you alway have Patient First...yeah thats a great ROI.

Amazing how any of them still have their jobs
Click to expand...

Just wanted to say thanks JB for my 22% payout. Keep up the good work. Also, please remember that he is smarter than everyone else. Just ask him

Anonymous · Nov 12, 2014 at 7:48 PM

Please see post #7, Can anyone please explain to me ow JB is stll employed? His decisions alone will cost approximately 1,000 people their jobs.

Anonymous · Nov 13, 2014 at 6:59 AM

I for one would like to thank JB for his decision as I hope to be one of the gray hairs to be managed out. Keep up the good work.

Anonymous · Nov 24, 2014 at 8:01 AM

His decision alone will cost over 1,000 people their jobs, yet he is still employed.

Anonymous · Nov 24, 2014 at 9:26 AM

I'm hoping the folks responsible for not showing him the door will join him in involuntary departure soon.

Anonymous · Nov 24, 2014 at 9:36 AM

The really sad part is that he gets the last laugh. As the rest of us lose their jobs. When he gets what he finally deserves he will walk away with millions. Heartbreaking.

Anonymous · Nov 25, 2014 at 11:16 AM

funny how PF is changing after the earnings announcement but internal PR line that we that they have been listening to employees feedback. If feedback is so important why is there no employee survey this year? Bottom line PF is changing because earnings suck, launches are failures and we continue to lose talented people. Otherwise PF would have changed based on employee feedback 3 years ago.

Anonymous · Nov 25, 2014 at 5:08 PM

Talented people have left and continue to leave until this debacle is corrected. My only question is, is it too late!!!

Anonymous · Dec 12, 2014 at 7:56 AM

Anonymous said: ↑

While there is always equal blame to go around, i.e. managed care and sales reps execution, this situation regarding Advair, falls directly on Jack B., Mark Johnson, Rob Yagt, Tom Scales. In spring, summer and fall of 2012, the ESI team was in very contentious negotiations with ESI. ESI negotiations team was lead by the former Medco team, Ed A. and Jason. The ESI/Medco team asked that rebates simply be aligned between the two PBMs now that they were ONE organization. In other words, bring the ESI rebates up to the Medco rebates and the negotiations would be over and Advair would be secured thru 2015. In addition, the ESI team asked and received confirmation that ESI/Medco would give priority review to Breo when it was launched.(not to be confused with a guarantee formulary placement). Additionally, Lovaza, Jalyn and Avodart were protected with little incremental investment. All toll, the cost to protect the franchise was an incremental $20m-$22 in rebates.

Not only did the above mentioned senior leaders say NO....they wanted to PULL BACK rebates to the tune of $5m. Thats right, the brain trust wanted to money back despite the fact that the new PBM was providing pharmacy benefits to approximately 80m-100m(depending on how you count it) individuals.

As any one could predict, their was a meltdown in Franklin Lakes NJ. Eddie A and Jason informed GSK they were going to move against Advair beginning in 2014 and it would be painful for the organization. The above mentioned leaders were just simply belligerent. They indicated in no uncertain terms that ESI leadership had no idea what they were doing and how much disruption and patient unrest this would cause. Adding, that "advair has 85% market share and there is no way Symbicort or Dulera would pick up the slack.

The negotiations went back and forth for the entire 2012 period. It was reported that negotiation even went on in 2013 for a bit. However the arrogance and recklessness of the senior leaders was only surpassed by their ignorance of the managed care marketplace. They gentleman had no idea what they were doing. However, if you were to ask them, because they had done such a stellar job at Lilly, they knew what they were doing. After all, they were akin to, as was depicted in the CNBC expose on Enron, "The smartest guys in the room".

They were warned that not only could ESI do this, BUT THAT THEY WERE GOING TO DO THIS! They were simply incompetent.

Read the Bloomburg news story today....even the analyst, James Hay hints at the incompetence of management.

How these gentleman have jobs when they cost GSK and its shareholders more $300m dollars in lost sales of Advair alone, is stunning.

I am no rocket scientist but investing $20-$22m to protect $300-$400m seems to be a good ROI. But you alway have Patient First...yeah thats a great ROI.

Amazing how any of them still have their jobs
Click to expand...

Just sent a copy of this to all 12 members of the board. For anyone else interested the address is 980 Great West Road
Brentford
Middlesex
TW8 9GS
Found on page 9 of the annual report we all just received

Anonymous · Dec 12, 2014 at 8:26 PM

Thank you. In the town hall it was suck an unexpected surprise...ha.

Anonymous · Dec 13, 2014 at 2:00 PM

All over a lousy 2% rebate to 19% total, now at 55% plus....nice

Anonymous · Dec 21, 2014 at 7:11 AM

Jack,

Can you please let us know in the field how much in rebates GSK had to pay ESI/Medco to get Advair back on formulary? AS a 27 year employee/share holder I am both saddened and pissed that you are still in your position. Your decsion alone has cost people there jobs.

Hope you sleep well at night

anonymous · Mar 13, 2017 at 1:25 AM

Anonymous said: ↑

While there is always equal blame to go around, i.e. managed care and sales reps execution, this situation regarding Advair, falls directly on Jack B., Mark Johnson, Rob Yagt, Tom Scales. In spring, summer and fall of 2012, the ESI team was in very contentious negotiations with ESI. ESI negotiations team was lead by the former Medco team, Ed A. and Jason. The ESI/Medco team asked that rebates simply be aligned between the two PBMs now that they were ONE organization. In other words, bring the ESI rebates up to the Medco rebates and the negotiations would be over and Advair would be secured thru 2015. In addition, the ESI team asked and received confirmation that ESI/Medco would give priority review to Breo when it was launched.(not to be confused with a guarantee formulary placement). Additionally, Lovaza, Jalyn and Avodart were protected with little incremental investment. All toll, the cost to protect the franchise was an incremental $20m-$22 in rebates.

Not only did the above mentioned senior leaders say NO....they wanted to PULL BACK rebates to the tune of $5m. Thats right, the brain trust wanted to money back despite the fact that the new PBM was providing pharmacy benefits to approximately 80m-100m(depending on how you count it) individuals.

As any one could predict, their was a meltdown in Franklin Lakes NJ. Eddie A and Jason informed GSK they were going to move against Advair beginning in 2014 and it would be painful for the organization. The above mentioned leaders were just simply belligerent. They indicated in no uncertain terms that ESI leadership had no idea what they were doing and how much disruption and patient unrest this would cause. Adding, that "advair has 85% market share and there is no way Symbicort or Dulera would pick up the slack.

The negotiations went back and forth for the entire 2012 period. It was reported that negotiation even went on in 2013 for a bit. However the arrogance and recklessness of the senior leaders was only surpassed by their ignorance of the managed care marketplace. They gentleman had no idea what they were doing. However, if you were to ask them, because they had done such a stellar job at Lilly, they knew what they were doing. After all, they were akin to, as was depicted in the CNBC expose on Enron, "The smartest guys in the room".

They were warned that not only could ESI do this, BUT THAT THEY WERE GOING TO DO THIS! They were simply incompetent.

Read the Bloomburg news story today....even the analyst, James Hay hints at the incompetence of management.

How these gentleman have jobs when they cost GSK and its shareholders more $300m dollars in lost sales of Advair alone, is stunning.

I am no rocket scientist but investing $20-$22m to protect $300-$400m seems to be a good ROI. But you alway have Patient First...yeah thats a great ROI.

Amazing how any of them still have their jobs
Click to expand...

anonymous · Mar 13, 2017 at 1:27 AM

Tom Scales just throws Bailey under the bus.

anonymous · Mar 13, 2017 at 11:23 AM

We ae not to use names in this venue. Shame on you.

GSK shares pounded after Q2 earnings miss

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