Allergan Employees Beware

Abbvie told shareholders they will deleverage $18 billion by 2021. Abbvie will have massive layoffs and RIF/WARN by Q320. Abbvie will SELL off Allergan divisions and keep top line revenue drugs and dump the rest. They will dissect Allergan and lay-off you folks JUST like Ian Read dissected the dozens of company’s and their workforce’s. AbbVie paid for the acquisition with around $60 worth of its own undervalued stock. AbbVies trading at a paltry 7.7 times 2019 earnings. Allergan will bring $23.5 billion in new debt and combined with AbbVie’s existing debt of $35 billion AND an additional $30 billion to finance the merger, total debt will come out to around $90 billion. That load represents 4.5 times EBITDA, a troublesome high ratio for investors. There MUST be layoffs to bring this to fruition. Look what happened Knoll employees AND most Kos employees. Look at Hospira HPD spin which was sold to Pfizer who dismantled it and sold off injectables and the device end to ICU. Look at ADD division dumped. Look at Solvay employees who were let go in mass numbers. Look at TheraSense employees who were axed. Look at Stemcentrx employees axed by Abbvie a few months ago. The list goes ON and ON and the next chapter will be written for YOU!

 

Also, If you’re staying and banking on the 52 week change of control severance, you’re in for a big surprise. Start looking now or you’ll be sorry.
Good Luck

HR

 

Dear HR,
Can you guide me on this?
Allergan has 250 jobs open in the US.
They are still actively recruiting and interviewing.
They have contacted some 3000 people to fill these positions with phone screens and emails.
Face to face interviews are also happening.
Start dates in the next couple/several weeks have been discussed.
What can candidates expect as a start date with AbbVie?

 

Within (1) month of close if deal goes through. These positions are ghost hires. Don’t take them! That goes for either internal external hires.

 

Allergan/Abbvie is facing loss of exclusivity for Namenda XR and Restasis and Xiidra is ALREADY eating Allergans lunch. The scam to protect Restasis using the Saint Regis Mohawk Tribe to obtain rights to six patents covering it and and secure exclusive licenses will not go unnoticed. Blatant tactic discouraging generic drug makers from making cheaper versions of rip off high priced drugs. Allergan reported a 2% DECLINE in revenue and a measly 1.3% growth in non-GAAP income per net share. Botox faces upcoming stiff competition. Also this year you are faced with loss of patent exclusivity for Estrace and Delzicol. Last week, Mylan launched first generic version for Estrace cream. Also, Trulance is taking market share from Linzess. Rick made a foolish move and employees will suffer, while Gonzalez rides of into the sunset with $60M and a golden parachute.

 

I am guessing that will be CHAPTER 11 lol

 

Sr Management is giving 52 week carrot. Should we wait or take it? What is your past experience when Abbvie took over Pharmacyclics? how did that go?

 

That’s a fact Jack

 

Don’t forget TAP (Takeda) who settled criminal and civil charges for Medicare fraud with Leuprotelin and the $875M fine for illegal marketing that seven people were indicted on criminal charges by a grand jury. 4 greedy doctors pled guilty for receiving kickbacks.12 TAP employees had been indicted and contested the charges, and one had pled guilty. Abbott screwed the employees big time!

 

I think you are wrong...........

 

Then think again. I was under impression this change of control 52 week severance fairy tale rumor is based on Allergan terminating you BEFORE deal closes. It WONT happen. Allergan will never reduce headcount before deal closes. They’ll let Abbvie do it’s dirty work and any verbal agreements (I know y’all ain’t got nothing in writing) about 52 weeks won’t mean jackshit. You’ll be an Abbvie Employee and all deals are off the table.
You’re starting from scratch and as far as any seniority Vs. Abbvie employees you’re at the bottom of the Totem Pole.

SEE YA

 

Wouldn’t wanna be YA !

 

you are driving these allergan peeps batshit crazy before they are even here. mike ball wouldn’t approve of your actions of his former peers. why why why why do you do this to us ? please stop!!

 

The 4.5 times debt in ratio to earnings before interest, taxes, depreciation, and amortization is what happens when you use debt instead of equity to fund an acquisition.Very troubling statistic.

 

youre not entirely correct
It will all depend on who takes over day to day operations in the field. When Actavis bought Forest it was the Forest Management that took over in the field. It was the Forest Managers that kept their reps etc at the expense of Actavis folks. Even though it was Actavis folks who had the experience and purchased Forest. Same deal with Allergan. This is just Forest with another name. They look out for their own. It is the ABBVIE reps who should be concerned

 

Hey crazy and annoying Red Ink Guy, aka Mr Know-it-All, and voted on CP in the Punctuation Category as “Needs Most Improvement:”

We do have things in writing over here at loser Allergan.

The truth is, no one really knows who and how many. Yet.

I hope many find other opportunities and avoid this Pharmaceutical Titanic.

 

You are a fucking moron. The reason Forest mangers took over was because the C Suite remained Forest.

This is totally different, Allergans C Suite is jobless after this transaction.

 

Just wait to see who will be heading up what in sales. Who is going to be forced to be retained etc. The Forest hold overs will be like the camels nose under the tent. They play dirty and for keeps. C Suite is irrelevant. What’s going to be relevant is going to be area directors and who leads what division.

 

C Suite is irrelevant? Hahaha, oh Jesus Christ. You are completely clueless. Area Directors with undergrad degrees in communications from community colleges calling the shots for Abbvie?!?? Haha, let me catch my breath and wipe the tears off my face....oh lord. This is the end of the road for the Forest C suite and that means it’s the end of our ABD’s, VP’s and RD’s. Abbvie will take one look at those clowns on paper and give them the axe, they won’t even bother giving the morons a face to face to plead for their jobs.

If you think for one second that Anyone from Renner down has ANY input on who gets canned you are sadly mistaken. These clown are former sample droppers that have played the game well, THATS IT.