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Layoffs coming.

Discussion in 'Promius Pharma' started by anonymous, Sep 20, 2018 at 7:14 AM.

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  1. anonymous

    anonymous Guest

    Hold on tight!
     
  2. anonymous

    anonymous Guest

    Wait are people seriously dumb enough to stay around?! This is scary. Get out now!
     
  3. anonymous

    anonymous Guest

    Derm or Neuro ? Just applied for a neuro position
     
  4. anonymous

    anonymous Guest

    Dermatology just laid off NSD, manager and 5 reps! But then replaced the NSD, so did he get fired? Bad place to be...
     
  5. anonymous

    anonymous Guest

    CLODERM gone...replaced by Promiseb...Brilliant move ???
    No bonus checks again.. unmotivated ...moving on. Ships sinking.
     
  6. Garin

    Garin Guest

    And now we're in the capable hands of Valeant castaways.

    It'll be great to go to another recycled meeting with the same theme they had there.

    Maybe we'll be blessed by the one dermatologist he actually seems to know.

    You know, the douche who never did anything for us.

    Exciting times to be led by the people who only had success because of all the sucking up they did.

    This will end well.
     
  7. anonymous

    anonymous Guest

    Not any better on the neuro side of the house. Stupid drug is the punchline to a bad joke. This sales force won't last long enough for anything in the pipeline to hit the market...and none of that crap is any better.
     
  8. anonymous

    anonymous Guest

    WOW. Did they really lay off KM? And who was the manager that got let go? I don't work at Promius any longer but did for quite a while. Sounds like things are not so good. Was always a great company back in the day.
     
  9. anonymous

    anonymous Guest

    JS out west. KM is gone. Compliance is gone. Dedicated HR person is gone. DS is gone, but no one cares. GT and EB running the show. It's like giving the Titanic to new captains after the iceberg. So stupid.
     
  10. anonymous

    anonymous Guest

    DS gone? You mean the one who was heading sales/marketing. If true, thats a good riddance. The gang of talkers that came with zero experience led this aspirational company to doom. And of course, thanks to them, many careers destroyed with right people ignored, people being laid off and being treated shabbily.
     
  11. anonymous

    anonymous Guest

    CHD terminated DFA 02 license!!! Finally they corrected their blunder. No, not promius, but CHD. Well, this is a product under development for past 10 years, and this termination tells everything about the quality of development and product, and more so about the people who have been happily and tirelessly bragging about such wasted products. Some of them gone (having made loads of money), and some others are still doing the same thing-bragging. One thing thats common for this group: they never worked in lab, never had any product development training. The outcome should not be surprising.
     
  12. anonymous

    anonymous Guest

    Umm...the license granted to CHD for DFA02 was terminated by Dr Reddy's. So Reddy's still has any and all rights. Not quite what you thought it was .
     
  13. anonymous

    anonymous Guest

     
  14. anonymous

    anonymous Guest

    if I could compare this company to a restaurant I would compare it to Long John Silvers. No one knows why they’re still around and it’s difficult to trust them.
     
  15. anonymous

    anonymous Guest

    Well....I dont think so. You see, a drug being developed for close to 10 years, licensensed out with much funfare, including an equity deal (biggest upfront so far) to an aspiring company, Armis (formerly CHD), and then this sudden breakup. It's easy to connect the dots. There is an Ex-promius guy at Armis. did he spill the beans?:)
     
  16. anonymous

    anonymous Guest

    Dr. Reddy's hired an COO from the outside to cut expenses and reduce headcount, including several important positions and departments, as well as many tenured, successful, dedicated employees.
    Dr. Reddy's sold the Bristol TN antibiotic manufacturing site for pennies-on-the-dollar.
    Dr. Reddy's sold their global API business, including a couple manufacturing facilities.
    Dr. Reddy's sold Cloderm.
    Dr. Reddy's Generic's CEO of developed markets left the company for the same position in another Indian generic company.

    When you consider all of these, it looks like the Reddy family is cashing-out. So much for creating a company that last 500 years, as Dr. Anji Reddy dreamed.
     
  17. anonymous

    anonymous Guest

    Absolutely..you hit the bulls eyes. Here is my guess on what they would do: Cash out, make a few billions in cash, enter in big way in real estate/ infrastructure, NBFCs, or ecommerce. They are already into hotels/hospitality, and that would again be a great area to deploy their cashpile and have a business with zero regulatory burden and decent return. Sounds similar like Piramal enterprises? Well, they are a big hit, and that's the way to go...specialty for those who hardly have any temperament to do research and have systematically purged the company of its talent pool. DRF closed, NCE research gasping, specialty venture already a failure...generic margins squeezing, biosimilars proving tough, and cherry on the cake: everyday regulatory headache and uncertain US markets. It's dead end. It's sad truth.