Done deal!

An agreement has been signed to sell of diabetes franchise. The new company name was redacted but the terms of agreement have been signed off on. Scheduled to effective 1/1/19.

 

wow! Any word on if they are planning to retain the sales force until then or let them go sooner?

 

Prove it

 

would love more information if you have it.

 

It this is true, and that is a big if, it will have to be publicly announced no later than Monday, June 25. That is all the time the SEC allows for a material event to be disclosed so the clock is ticking. If there is nothing announced on Monday, you can safely call bullshit on this. Given the multinational listing of this stock, I would expect an announcement to come before the market opens in Europe on Monday. Either way, you won't wait long.

 

Why do they need to give 6 months notice? Is there a specific law about a business transaction of this size? Seems odd to me that there'd need to be so much notice given. A month, maybe

 

This appears to be accurate.

And to my knowledge the WARN act/notice only stipulates a 60-notice in the US, unsure about OUS regulations. Sorry to everyone involved here.

 

intended to write "60-day notice" relating to WARN

 

I’ve been with Sanofi for 14 years and I would say that cafepharma has gotten it right about 98% of the time and the inside info is almost always pretty accurate. Anytime there have been down-sizing’s cafepharma nailed it. I tend to believe this info is true and of course Sanofi will be evasive about it until the last possible minute to squeeze every last effort out of us.

 

Not too sure , company is putting a lot of energy behind the ADA convention this week.

 

55 Insider here. This is completely inaccurate. We are not selling off the division. Though budgets have been the talk of bridgewater since March. Stayed tuned and good luck.

 

They don't need to give six months notice, or any notice at all, to do the transaction. They have four days to disclose that the transaction is agreed.

However, very few transactions can close overnight because there is a lot of paperwork that goes into a major sale of a business like transferring (or terminating) the existing employees, making temporary arrangements for continued use of real estate assets, getting required legal consent to assign existing contracts from third parties, notification of customers, and a whole lot more. If the other company is smallish and part of the purchase price is to be paid in their stock, the new shares have to be registered with the SEC and compiling and filing an S-4 or F-4 registration statement is not a simple task.

 

What the heck does that have to do with anything? These people are great at putting “a lot of energy” around nothing! They’ve been doing it for years. There’s only one day left at the ADA and Sanofi can’t even make the current news headlines on cafepharma. I’ve seen devices, Novo, J&J, and others show some exciting new data, but guess our Bright data may not be that bright?

 

I can only pray that this information is true.

 

Please, PLEASE let this be true. Any additional information?

 

55 insider here again. These are completely false accusations. Though a realignment is definitely in the works. Specialty will become primary care again calling on everyone and this will displace current representatives and some management.

 

Thank you for this info. Do you think current PCP reps will be the ones on the chopping block? Do you anticipate the next layoff happening before end of this year?

 

How in the hell can having Specialty calling on everyone again displace reps? We don’t have enough people already? I think you are full of shit!!

 

In some areas we are spread thin, yes. In many other geographies there are still too many reps. There is still room for another down-sizing.

 

You must be talking about diabetes because in CV Amgen has us 8 to 1 and the numbers reflect their advantage