Kare and Steffan Throw in The Lundbeck Towel!

Well, I guess they ran out of parts to build the bi-plane! I think a lot of the cool-aid drinkers will now get the message that Lundbeck is in trouble. If the future was so bright here, your main 2 guys would not be leaving! We had a CEO that refused to even meet his U.S. sales force which speaks volumes about him. He negotiated 0 deals of any significance, and I don't consider a "deal" with 23 & Me significant.

No need to list again all of our problems on here. No, this is not good. It will be interesting to hear how they spin this.

 

Tells you everything you need to know about the future here. How losers like this continue to move on and up after doing absolutely nothing is astounding, but seems normal in Pharma.

When they announce the next has been or never was CEO, it will be all about how they have the vision and history to turn Lundturd around, blah, blah, blah....

 

What's sad is now when the stock price takes a huge drop when Onfi goes generic and people see we have no pipeline, the industry will attribute it to us "no longer having Kare's excellent leadership"

That guy played us like a fiddle. When Novo rejected him, he used Lundbeck's dying corpse as a launch pad to become CEO of a "real company"

Should have made Staffen CEO back when Ulf left.

 

Correct. The board assumed Kare would give a shit about Lundbeck because he's a Dane and worked at Novo. Turns out all he cared about was his stock and resume.

Staffan knew, liked, and respected the US. He also was career Lundbeck.

 

My guess is that Staffan was offered the job, but turned it down because he knew the shit was about to hit the fan at Lundbeck. The only reason the stock price went up was because Old Kare laid off a 1,000 employees and cut expenses! What brilliant decision did he come up with that increased sales by a dollar??? Patient profiles? It was easy to orchestrate a bump in the stock price to make himself look good, and when a loser company like Teva came a knocking', he said look what I did!! Staffan said screw it, there is nothing left here, so why not take a chance elsewhere.

The spin on all of this will be, "stay focused, stick with the strategy (which is none!), and execute!"

 

Correct the cupboard is bare. All the layoffs and streamlining to boost the companies value have been done. Sort of like spending down the principal of an endowment or trust. Once it's gone, it's gone.

What's left of value, some of the buildings in Valby? One year of Onfi, crippled psych drugs we partner on that are losing payer coverage, and a pipeline with one asset in phase 2 or later?

 

Did Peter really just tell us "at least we're not going through 9/11"???? What a fucking tool.

 

Did he say that?? I was reading that Kare got a $20,000,000 signing bonus! Must have missed it!

Can't figure out why Kare is leaving a company that has 35700 in it's pipeline! The joke is on him and Staffy! Boy will Coor live to regret leaving 35700 to become the CEO of Teva! My manager tells us that people are beating down the door to join Lundbeck, which makes it more baffling Core and Steven left! If I was Kure, I would give back that $20,000,000 and beg Loonback to take me back! Hell, they may even let him participate in the Spitt contest! If he won that, he could buy a brand new weed eater! Yep, the joke is on him and Steppenwolff!

 

This has got to be one of the funniest posts ever on CP! Well done! Much better than Peter's speech!

 

I couldn't believe Peter was so desperate that he felt he needed to put us in our place on the call today. Once again, you showed us why people don't like or trust you. Your job is to put us all at ease with the changes occurring around us. You tout our "strong pipeline" and stability. Any remnant of a pipeline is on the psych side anyway. And you think that we will take comfort in the fact that the Board will continue Lundbeck on it's current path? That is naive on your part. So here's something for you to ponder: We have no neurology pipeline, we have reach goals for ONFI to insure we don't make too much money, there are issues with Northera and the Support Center and foundations (by the way, this will all be revealed at our Regional POAs), and executives who took parachutes to jump out of this "plane that we're building as we fly it" before this it crashes. Tell me again why we should stay? Because people got hit by a hurricane or killed in a horrific act of terrorism 16 years ago? Do us all a favor and resign.

 

HILARIOUS POST!

Peter did the best he could with what he had to work with. Think about trying to tout our pathetic pipeline of 1 drug that's still a number, and will more than likely never see an approval. Then he had to convince us they have a "strategy"! Well, what the hell is it? Now watch your equally pathetic manager try and put a positive spin on all this crap! Boy these upcoming meetings promise to be real interesting to say the least! I bet everybody there will be checking their email and cells to see if their recruiter(s) have called them!

Things are looking bad at the WORLD CLASS IN ALL WE DO Lundbeck!

 

One of the Medical Affairs folks told me that AF35700 will never see the light of day. Many of them know it, including the MD leading the study. It's far behind timeline and they are nervous with high dropout rates and sites enrolling the sickest of the sick (older schizophrenic patients, long length of illness, high comorbidities, etc...). We need to get out before those results are confirmed.

 

One of our most well known speakers told me the same thing. It will never make it. Agitation and PTSD are also dead. Trintellix label change dead. The only one with a shit eating grin on their face is Kare! They have no real strategy, unless you call some idiot in a patient profile a strategy. Watch what we do at the upcoming meetings...the SOS we did at the last one! Do they think we don't realize that we do the same thing over and over? Peter seemed very nervous today. My guess is that he or JA will be next to hit the exit, or some big shot in Denmark. Soon they will be trampling over each other to leave. You can feel the change in the air!

 

JA is my guess, along with all execs in Denmark that are under age 50.

 

Kare got a $52,000,000 package from Teva!

Can't blame this asshole for leaving this sinking ship! Teva got so screwed ...and so will we! Think about your piss poor bonus, salary, etc. Now with layoffs sure to come, how many of you will sit on your asses and do nothing?

 

http://www.fiercepharma.com/pharma/teva-poaches-lundbeck-chief-schultz-52m-package

 

This is exactly why none of you should have tolerated below average salary, bonuses, lack of stock, etc.

This guy ran you into the ground by not acquiring anything and cutting jobs and costs to boost stock price (in the short term). Then he claims to Teva that he can do the same for their stock and makes 52 MILLION dollars.

Sounds fair to me.

 

Too bad you can't "like" a CP post or you would get plenty.

These execs are amazing. Expect you to work for peanuts, move on a crap relo plan, get little to no raise, be expendable, all while they line their pockets and jump ship after their own failures emerge. What Teva sees in Kare, I don't know. It's not like he did anything transformational here.

 

He made the stock go up by firing people in Europe and setting huge goals for US sales.

That's what Teva wants. Something to pull them out of tail spin.

 

Did anyone else see all the share selling last month or is that just coincidental!?