Honestly this is not a good option. Think Twice

Without going into too much detail, their reimbursement department is ill prepared and it will be a train wreck in an already crowded market place. "We work fast" just doesn't cut it and neurologists will be pissed on the hoops to get this drug and all the step edits being the only infusion. There is nothing special about the benefits such as 401k, car allowance etc. Too much of a risk.

 

the recruitment process over social media reeks of a company selling an idea that won’t launch. When you speak “family and culture” over clinical results you are setting yourself up for a 50% lay-off in 6 months.

 

Agreed. I interviewed and was underwhelmed and do not want to move forward. Too many red flags and far too many risks to take in terms of joining this company.

 

This will be a major struggle in New England. Decided I won’t be interviewing due to independent variables that go above and beyond the rep. The company isn’t prepared for this market

 

There seems to be a lack of ability to articulate any type of strategy in the roll out of this medication. Managers who haven’t sold in this space are clueless of the market over the past year. It feels like the blind leading the blind when you speak to the newly hired managers. You can sense their lack of confidence. Vague is not good in a launch.

 

Agreed and well articulated. What will ultimately happen is managers will have to answer to their RD’s having to explain why the uptake isn’t where it should be. This then will equate to excessive micromanaging, every other week riding with the under qualified manager, etc. All of which are predictable because the appropriate leadership with the right skill set were not hired from the very start. Vague is an understatement. Anyone who has any real experience in this arena can sniff it out and steer clear of this potential disaster

 

MO was clueless. He never sold in the space and knew nothing about that

 

What area does MO manage?

 

Thanks so much for this thread! I appreciate the well articulated comments confirming what my gut was telling me.

 

heard the benefit package was unreal?

 

A 30 minute quarterly infusion or a once a month self administered quad shot and a marketing giant. Not to mention the step edits and the management are Amgen rejects with no headache experience. Good luck.

 

What was so unreal about the benefits package? What kind of base of these guys offering?

 

Car allowance plus mileage, 100% paid benefits, good base, shut down during Christmas, 6% 401K match, 3 weeks vacation plus another 2 of sick.

 

Has anyone had a face to face?

 

100% paid benefits??? that is kinda fucking awesome....

 

This is pretty normal for smaller companies. Its also very expensive for them and as the company grows, it usually changes. But a great benefit for now.

 

Look at the balance sheet of this company...

It is running on the investor's dime and borrowed money; in other words NO SUBSTANTIAL REVENUES! Now, that's normal for a start-up/growth biotech firm but it is a problem if we go into a recession.

In a recession, investors flee from risk assets like start-ups, and at the same time bank lending freezes overnight. Ask yourself what the chances of a recession are in the next couple of years vs the drug not selling (competition, coverage, cost, etc) vs the company actually getting acquired during a economic slow down (very low).

If any of those things happen and all benefits, salaries and sales employees will be "reallocated" just in time for Christmas...

 

yeah, been in pharma my whole career, specialty / orphan drug the last 12 yrs....
have Never heard of a company (small or otherwise) paying 100% benefits. ever

 

Yeah, you’ll get those benefits for 6 months before they flop because they are the 4th to market...

 

Does anyone see the positive of this being a huge opportunity to make some cash with a very efficacious product? I see the risk but I also see some huge advantages.