Q3 Sales Goals

What the hell is upper management smoking?

 

These goals are completely unjustified and they surely do not pass the red face test. They should be ashamed of themselves.

Good move not announcing these goals at the national meeting. Very Sad!!

 

Pehaps Eldon could have showed these financials at the NSM???

Insider Shares Type Transaction Value*
May 20, 2011 SILVERMAN LOU
Director 10,000 Direct Option Exercise at $4.08 - $4.75 per share. 44,0002
May 16, 2011 CARTT STEPHEN LAHUE
Officer 79,087 Direct Option Exercise at $0.98 per share. 77,505
May 16, 2011 CARTT STEPHEN LAHUE
Officer 79,087 Direct Sale at $22.04 per share. 1,743,077
May 16, 2011 BAILEY DON M
Officer 1,200 Direct Disposition (Non Open Market) at $0 per share. N/A
May 13, 2011 CARTT STEPHEN LAHUE
Officer 70,400 Direct Option Exercise at $0.46 - $0.98 per share. N/A
May 13, 2011 CARTT STEPHEN LAHUE
Officer 70,400 Direct Sale at $22.73 per share. 1,600,192
May 12, 2011 MEDEIROS DAVID JEFFREY
Officer 115,128 Direct Sale at $22.07 per share. 2,540,874
May 3, 2011 MEDEIROS DAVID JEFFREY
Officer 4,500 Direct Sale at $20.38 per share. 91,710
May 2, 2011 MEDEIROS DAVID JEFFREY
Officer 80,372 Direct Sale at $20.70 per share. 1,663,700
Apr 29, 2011 THOMPSON VIRGIL D
Director 167,500 Direct Sale at $20.38 per share. 3,413,650
Apr 29, 2011 THOMPSON VIRGIL D
Director 127,500 Direct Option Exercise at $0.53 - $1.78 per share. N/A
Apr 29, 2011 MEDEIROS DAVID JEFFREY
Officer 204,841 Direct Sale at $20.36 per share. 4,170,562
Apr 29, 2011 MEDEIROS DAVID JEFFREY
Officer 204,841 Direct Option Exercise at $0.60 - $1.02 per share. N/A
Mar 8, 2011 BLUTT MITCHELL J MD
Director 80,000 Indirect Purchase at $13.19 per share. 1,055,200
Mar 7, 2011 BLUTT MITCHELL J MD
Director 145,000 Indirect Purchase at $12.95 per share. 1,877,750
Feb 28, 2011 BLUTT MITCHELL J MD
Director 110,000 Indirect Sale at $12.83 per share. 1,411,300
Dec 1, 2010 THOMPSON VIRGIL D
Director 45,000 Direct Option Exercise at $0.75 - $14.4 per share. N/A
Nov 2, 2010 YOUNG DAVID
Officer 28,125 Direct Option Exercise at $0.43 - $1.47 per share. N/A
Nov 2, 2010 YOUNG DAVID
Officer 28,125 Direct Sale at $12.33 per share. 346,781
Jul 1, 2010 BLUTT MITCHELL J MD
Director 564,952 Indirect Statement of Ownership N/A
Jun 9, 2010 CARTT STEPHEN LAHUE
Officer 5,208 Direct Disposition (Non Open Market) at $10.03 per share. 52,236
Jan 22, 2010 THOMPSON VIRGIL D
Director 10,000 Direct Option Exercise at $2.28 per share. 22,800
Dec 4, 2009 THOMPSON VIRGIL D
Director 10,000 Direct Option Exercise at $1.06 per share. 10,600
Nov 12, 2009 FARRELL STEPHEN C
Director 30,000 Direct Purchase at $3.50 per share. 105,000
Aug 5, 2009 MEDEIROS DAVID JEFFREY
Officer 115,000 Direct Sale at $6.42 - $6.48 per share. 742,0002
Aug 4, 2009 MEDEIROS DAVID JEFFREY
Officer 185,000 Direct Sale at $6.10 - $6.26 per share. 1,143,0002
Aug 4, 2009 CARTT STEPHEN LAHUE
Officer 100,000 Direct Option Exercise at $0.46 per share. 46,000
Aug 4, 2009 CARTT STEPHEN LAHUE
Officer 100,000 Direct Sale at $6.12 per share. 612,000
Aug 3, 2009 CARTT STEPHEN LAHUE
Officer 150,000 Direct Option Exercise at $0.46 per share. 69,000
Aug 3, 2009 CARTT STEPHEN LAHUE
Officer 150,000 Direct Sale at $6.04 - $6.07 per share. 908,0002

 

Whoever posted the above...."Your my Hero" The rich get richer and the rest of us just break our backs for them. Now we are really selling twice as much and getting paid half as much. My goal went up 3 and last quarter I made my goal by the skin of my teeth. So not only did they raise the goal but they want me to sell my soul to the devil and ask my account to double the vials....how greedy can one little biotech get? IF you want double you should pay double. Pay us for everything

 

This is a classic example of the old bait and switch. I guess they do not understand that we can tell OUR prescribers to turn off the faucet tomorrow.

 

By the looks of these stock options transactions, Virgil, Steve and Don did very well for themselves. Guys, how much $ do you really need to have??

 

Q1 Goal 380, Q2 Goal 500, Q3 Goal 700. I know we are growing and we are having success. But almost doubling the goal in two quarters?? I've never seen goals ramped up so quickly before with any other company. I guess they want 10 reps making huge bank and the rest of us barely scraping by to make 8k. How many reps will jump ship after having unrealistic goals quarter after quarter? I was so thrilled to finally make my quota Q2 after busting my hump. Now I'm completely deflated.... Who wants to work like a maniac for 8K? If you can even make your goal. Miss it by one and you also get paid almost nothing for Neph scripts. Who thought seeing at the Nat'l meeting that one person could possibly make $500k in one year was motivating? Not me. But give me a realistic shot at making just 15k, 20k or more and I'm motivated like hell.

 

The issue here isn't the historical component of the goal calculation, it's the national component that's causing the bar to be raised higher and higher each quarter. We were initially told that this national goal was fixed for the year, but that is not the case.

Eventually, a territory's goals will catch up with performance. Even if a territory ships 20 units a quarter, it will catch you, if your growth curve flattens out. Selling 20 units is a heck of a lot of Acthar. You see, different territories are in different phases of growth, some territories are growing, some are stabilizing (there is also great differences in MS volume from territory to territory as well). It's not apples to apples.

Thus making 8K just to make goal will demotivate you knowing the company banks big bucks. Believe me, it is extremely difficult to pull these referrals through. Mark my words, this goal setting will be the company's downfall with the salesforce, if not addressed.

I do feel that the company has made much progress in their efforts to keep the salesforce happy. But please don't get too greedy on these goals.

 

I agree. Q3 goals are totally crazy!!!!!! Everybody should have a quarterly goal of 5. That's enough to take care of our salary and benefits, etc.......If they pay us on every single vial that ships, there is roughly a $20,000 profit margin on every vial. Isn't that enough??????? I agree, I think it is really demotivating to have goals so high knowing the company is making huge bank and not sharing much of it with us. Hopefullly they change this before they lose alot of good performers to other MS companies who come calling soon!!!!!

 

I wish they would just set goals based on actual MS in each territory. More Avonex, copaxone etc prescripts in a territory, the higher the Acthar goal. The less used, the lower the goal. Simple and fair.

 

In a perfect world, the goals would be fair and obtainable. Also, in a perfect world, daily shipped reports and nightly referral reports would be great as well. WTF!!

 

I thought the NSM was the turning point for us to get back to a great culture, but I think that was only a diversion so they could crank up the goals and take money away from the MS/IS IC plans without us really knowing it.............The goals for Q3 are totally ridiculous.....Nobody can make the big $$$$ anymore.....

 

Screw that, that would suck for me with the big MS clinics in my area who aren't using yet. I like the idea of 5 referral a quarter goal for everyone. At least I'd have a fighting chance to make money.

 

Ok, I have an idea that would keep the salesforce very happy and keep all the financial forecasters happy as well. Give everyone a fixed goal of 5 for MS. $8k payout at goal and $5k for every referrral after goal uncapped. If you want to really motivate salespeople to get their asses out of bed and sell, then you have to make it more lucrative for them or they will pack it in. We just don't want to make tons of money for the company without reciprocation. That just demotivates us. This system will tremendously motivate the salesforce to generate more referrals, which in turn will significantly increase our quarter over quarter script growth, which will make forecasters and investors VERY happy. Just my opinion of course, but it makes sense............

 

LOL, and you left Genzyme for this...

 

By asking BZ to provide you with a very convincing Dear Dr letter, you just may be able to make goal after that. He knows how well it worked for him with his previous employer.

 

Greed is an understatement. These goals, from the top down, do nothing but discourage and breed negativity. Now, if it was only one segment, such as the low performers, who were affected by outrageous goal setting, we could understand the message being sent: perform or pack your bags. But what's the message now? All specialists suffer under this increase.

2011 growth has been spectacular. The stock is way up. We are adding another indication and a sales force to promote it. There are record numbers of referrals coming in (and being withdrawn). Things could not be better. And the payoff? Goals that outpace attainment.

There are no freebies in this market. Unlike other pharma drugs, this product is 100% rep driven. It looks like this company has lost sight of that.

 

like what was previously stated...and you left Genzyme for this...lol

 

Things must be going great for you huh back at GZ if you are coming to post on the Questcor board? Pathetic. I could guess who you are in 1 (ok, maybe two) guesses. But since my days there are over now I will not waste the effort. Have fun getting hosed!

 

BTW did you know there are still more bottom feeders left that you can gladly take because that is all that you have taken so far, keep it up and am glad who ever you are have left. Am only trolling to get a rise from asswipes like yourself who think you have the tiger by the tail but you only have your dick in your hand.

Getting hosed is part of the business when you are in sales, it's those that know how to managed the hose that is the difference between you and I, bet you have a big house payment and no savings, cant stomach a little heat? My advice to you is to save, stop living the life you can not afford and grow a pair. Good luck making quota, looks like you will need it.