Buyout....Most Likely Scenario?

I have to admit this has been a gut punch. Combined with not being able to go in offices, this hurts. My manager is definitely a Kool Aid drinker and selling a rosy future picture. For those with experience in the industry, do you think the company really is going to fight this out for years or is JT really prepping to sell the company behind the scenes? I’ve lost all motivation to bust my tail out in the field when my efforts will go for naught one morning with the announcement of a buyout. Or should I really put effort into networking for another job which in this economy is tough. Thanks in advance.

 

I think a buyout is very likely in this scenario.

in lieu of that .....and

If they go it alone It has been determined that there will be severe cuts at the RBM and ABM levels as most will be let go. 1 SP per territory will survive but territories will be greatly expanded from a geographic standpoint so their isn’t going to be as many territories. Maximum 3 territories per state.

 

When you say buyout, i believe you mean liquidation sale.

 

Your best bet is to stay put. No one is hiring in pharma right now during this covid mess. At worst, we get bought or laid off. We should receive some form of severance in both cases, one would hope at least. We are working right now, and until that changes, why make any drastic moves during such a hectic time in our country. Maybe make a move after this and everyone is back in the field but dont jump the ship without any lifevest.

 

With Amarin being tied up in legal issues for the foreseeable future, could they still sell the company while trying to appeal? I’m green when it comes to things like this.

 

Why would a company want to buy Amarin now? I get that the stock is low, but without solid patents, what would they get out of it?

 

there are a bunch of people filling open positions.

 

To the guy above- wow!!! Just wow! I don’t like Amarin either but to wish for someone to blow their brains out is totally mentally ill! You need help!

 

Agreed. Mental illness is a real disease and the above guy clearly needs help.

 

What a cesspool this place can be (cafepharma).

Nobody is going to buy a company under litigation, especially this type of litigation. Regardless, JT doesn't decide who buys the company. This isn't a privately owned business. The shareholders and board decide the fate. At this point, the company files an appeal and sees what comes of it. The salesforce stays in place, the home office stays in place and we all have a 12 - 18 month waiting period to see what becomes of all this.

Rumors and / or lies regarding what is happening help no one, with the exception of the bitter former employees who write in caplocked red text and attempt to sow discord among the winners.

Stay the course and keep doing what you are doing. This will work out for the best in the end.

 

Great Honest feedback. I am more motivated than ever to sell Vascepa to prove me wrong. I don’t know why people think we all will be laid off. They NEED us more than ever now. No chance whatsoever they sell the company.

 

I agree with almost all your post...except for the part about those being at Amarin being “winners”. It’s a fun job and good product but with a shitty company shrouded in uncertainty and well below average industry pay and benefits. That isn’t “winning”.

 

So, a buyout is completely unlikely. The product will be impossible to market for a branded price if the generics are approved. Your manager wants to keep you focused to make sure he/she and you make the most of the time you have left whether it's a few weeks or a few years. It is standard practice for them to do this, I have seen it multiple times in my career.

Do not wait to start seeing if you can network and find another job. Your time there may or may not be limited and you have to take care of you and yours. Remember, if you are a new SP with less than a year you wont get much severance pay in a layoff.

That being said, work hard in the field to keep numbers up. Put your best foot forward so you make as much money as you can on the way out.

 

who the hell is going to buy now? Amarin has one product....one. That’s it. When a generic hits it’s game over. The only question is....not if....but when. Will it be in 12 months or 4 years? Either way.....building a career here is a fools errand. Save all your numbers/rankings and start looking. Preferably in biologics.

 

Start looking for new jobs today.... this ship has sunk . we all have gotten better as salespeople selling a me too pos fish oil. get as much brag book stuff printed off and add it to your resume.... you all will bring unique skills to other companies. I'm praying that we can continue to get a paycheck until we find another job. But everyone get your resume out ASAP.....

 

A drug that just proved to reduce major cardiac events by 25% Twenty-Five Percent! is a "me too POS fish oil". I hope people only read your opinions for what they are: entertainment. Like Jerry Springer type entertainment.

 

it’s a very strong product. But how much longer can we sell it exclusively? That’s the issue....time to move on. Happy Amarin gave me the opportunity to earn my stripes. But it’s time to go make some real money

 

Lol if you earned your stripes at amarin then you should be pretty happy with the money you're making. You won't find that much more if you're a newer rep. And if you do, then no one is stopping you from living your truth. Bye, felicia.

 

Yes, it’s a “Me Too” and that’s “Obvious”.

Signed,

Judge Du