Anyone else on Psych side notice that the Bonus payout was about 10% less than BI tracker predicted. Which resulted in a boat load of AM losing thousand$$ in bonus.
Same shit happens on neuro. You miss goal by a few patients on Northera and you lose 5-10%. Meanwhile Kare raises the price of the medicine to over 120,000 per year potentially. That one % miss equates to a 7% multiplier loss on top of the miss. So you miss by 97 vs 87 of goal you still sold over a million dollars. You get 30% payout on that or about 1000 dollars. Now you see why people are leaving en masse. Your 33k target is a sham
Great points that many don't realize. It's interesting on the Neuro townhall call that almost all products are behind forecast but the co is poised for the best year ever. It might have a little something to do with setting unrealistic goals. With these stretch goals they make the revenue while paying out lower bonus checks. I hope those greedy bastards from Denmark enjoy their bump in the stock price. The best thing we all could do is leave this year and screw up their timeline. Once May/June 2018 comes, they won't care if we're here or not.
Yep they don't care, but Xenazine, Sabril, and Onfi sell themselves at this point. The ROI on Onfi sales reps sucks. The real question is what happens to Northera without rep support. It's a wierd disease state and a dog when it comes to supportive data and efficacy.
Psych here. Sounds like Neuro is coming apart at the seams, sort of like psych. We lost Rexulti coverage with UHC, which will have a huge impact on sales. Also, our goals are sky high, which is simply designed that way to lower bonus payout so Kare can improve the numbers to get more stock for him to sell. How many shares have we received? All we get are silly, useless patient profiles! Morale is in the toilet, so they want to have another meeting where we will accomplish nothing, in the Fall. Wait until Onfi goes generic. You guys will be toast. Generics are killing psych drugs, and AM's bi-polar indication will yield very little. What's funny is that management still thinks we actually "sell" trintellix on a Maintena call! Our days are definitely numbered.
the company is laughing to the bank with xenazine and sabril that's about 500 million USD that they profit with very little if any overhead at this point don't worry come february they will talk it up about those stretch goals that somehow we all made that we always do.... yes thanks Kare for raising guidance from 1.4B to 1.6B and then raising out T3 goals such that all of us are making even less. So when home office finally wakes up and realizes that it takes 6 months to hire/train and get a person in a car working again and they lost 6 months of a drug's patent life, and then it takes 6-12 months for that rep to really get efficient and moving sales in the territory... that small amount of salary you "justify" saying you are competitive is all just talk. You aren't competitive here. Your turnover rate is a direct reflection of your data is bad. Whomever you are paying for competitive pay data is poor. Your pay structure and compensation package is not top tier. That money you "think is competitive" is a net loss of at least 100k dollars in 6 months. If you are a northera rep with 120k dollar drugs.... multiply that 10 fold. You can't keep people because other companies pay a premium for talent that clearly Lundbeck hasn't figured out. It goes from talent development programs to long term compensation to reward people and make them want to see the company succeed. There is 0 programs here that provide that long term vision here. Maybe when another 10-20 people leave and you have a shell of a sales force, training program and marketing that is makeshift just limping to the generic finish line you will be an example for what not to do should this company survive. Never seen such a horrible launch of a drug where there is no straight information available with Northera. No sales piece leave behind for coverage or doctor confidence in to write that we do have real programs in place other than "storytime". Nothing in print. Just send it in and cross your fingers. It's potentially 120,000 dollars for the medicine. What doctor in their right mind wants to have that conversation with a patient when it isn't covered and the patient goes... doc... that drug costs 10,000 dollars a month... I'm sorry but I don't have that kind of money. This is of course the last time the company admitted the price to us. It very well could be several thousand more with their sneaky price increases. What doctor will ever suggest it ever again? Meanwhile Kare goes on CNBC and says that our medicines are not expensive. What fantasy world is he in? Kare's quote from 8/14: ( https://www.cnbc.com/2017/08/14/how-a-drug-company-fighting-depression-avoids-ripoff-drug-prices.html ) Asked if he was concerned about the president's willingness to take aim at pharmaceutical companies, Schultz said Lundbeck has nothing to worry about. "We always feel we provide value in all the products we've been bringing to the market, so we don't think we have ever seen, from our company, ripoff prices," Schultz said.
Wished they would have asked him about our pipeline! it would have been interesting to see how he would have spun that to make it sound good! He never really answered the damn question either! He should have said Northera only costs $10K a month, and they would have shit themselves!
I was shocked to see Kare's interview on CNBC! Not once during his sales call with the reporters did he use a patient profile to illustrate what the depressed patient looks like! Noticed how he avoided a perfect "positive tension" situation that came up, namely the opportunity to address our non-existent pipeline, or the amazingly high cost of our products with they poor instance coverage! Rating=Does Not Meet expectations!
I was shocked to see Kare's interview on CNBC! Not once during his sales call with the reporters did he use a patient profile to illustrate what the depressed patient looks like! Noticed how he avoided a perfect "positive tension" situation that came up, namely the opportunity to address our non-existent pipeline, or the amazingly high cost of our products with they poor instance coverage! Rating=Does Not Meet expectations!
I too, was expecting him to pull out a patient profile! Why didn't he? They work and every call, and docs look for ward to seeing them form Lundbeck, Takeda and Otsuka on each and every call! Why didn't he mention the soon-to-be label change for Trin. and cognitive improvement, and then the guaranteed approvals for agitation/PTSD for Rexulti. Also he didn't mention the $5 billion potential for the treatment resistant shiz drug either! Old Kare must have been having a bad day. Probably stayed up too late counting the profits from his Lundbeck stock sales!
with the price increases and lundbeck hiding that from us, northera now tops the 150,000 a year mark with max dosing no ripoff drugs.... what is a ripoff drug?
73% Northera efficacy vs 59% placebo is amazing! It's amazing it got approved... (I've gotta shower now. I feel dirty.)
Well the FDA did reject it once, but through legal manuevers, they were allowed to cobble together data for a repeat submission. 600 million well spent indeed!
