Massive layoff round will happen in 2H 2018

"Obviously we will see layoffs" due to the pending approval of Intarcia's ICTA650. This once a year exenatide pump is expected to transform the treatment of diabetes by overcoming the compliance problems encountered with pills and injections. Most analysts expect the Intarcia ICTA650 to dominate diabetes with a majority of prescriptions by 2023 being for once a year therapies. Novo has fallen behind in diabetes without a competitive osmotic pump offering. Having overemphasized oral GLP-1 offerings, Novo is expected to bear the brunt of the impact from Intarcia's entry. It is expected that Novo will reduce the diabetes sales force by upto 60% as the prescriptions for pills and injections decline.

 

T2DM is largely due to behavioral problems known as overeating. Exercise, eat right, lose weight. Nobody wants to have an implant. Sorry.

 

Unbelievable how this ICTA650 sh!t continues to make noise. This device has no relevance whatsoever. Can it be taken orally ? Does it fit up your bud ? - probably not, but it will effect substantial trouble when placed under your skin, e.g. serious inflammation for one thing.

Novo is in plenty trouble as it is, but ICTA650 will add nothing to that. ICTA650 has nothing to offer besides a serious pain in the skin and surrounding organs.

 

According to this article Intarcia isn’t doing too well either.....

https://www.beckershospitalreview.com/supply-chain/drugmaker-intarcia-therapeutics-cuts-20-of-workforce-terminates-2-late-stage-trials-8-things-to-know.html

 

Customers don't like exenatide, and it has nothing to do with patient compliance and everything to do with the fact that it just isn't very good. Deliver it however you want, and that doesn't change the fact that it's the worst GLP-1 on the market.

 

Excellent and factual response...

 

reliable DK sources indicate that a big layoff round in R&D is just about to start. negotiations with unions have been concluded and next week close to 600 colleagues in R&D will be terminated, mainly in DK. on wednesday, September 19, people leaders will be sacked and the following day rank and file staff will be axed.

#killingfields #deruntergang

 

So sad that is coming to this. Thought Novo was different until they started bringing big pharma ideas that didn’t work .

 

600 is about 10% of Novo's worldwide R&D staff. Given the recent R&D changes (termination of SVP's Kristensen and Kurthalz and formation of several new external partnerships within diabetes) time has probably come to balance the accounts and release some of death weight accumulated during years of complacent behavior in Novo's diabetes R&D. I suppose it all makes some sort of sense. Now let's see if your source is reliable and Novo actually is going do this.

 

Can we assume that layoffs in R&D will lead to eventual overall downsizing? These people work on our pipeline. If we don’t need so many of them, do we need as many of the rest of us?

 

Most, if not all, folks in haemophilia research will be laid off. End of an era. Sad...

 

I said this before, but I'll say it again. Novo SHOULD have stayed out of the FVIII market. It's too crowded with cutthroat companies who will do anything to maintain market share. I knew Gail Macek when she was the PI for NovoSeven and I knew Dr. Harold Roberts at the same time. They both told me NovoSeven was a great product, but a niche product. Dr. Roberts, along with Dr. Brinkhouse were instrumental in developing FVIII in the 1950's. Dr. Roberts knew what he was talking about with regards to blood clotting factors. He has since passed away, but I'd bet he would have been a good resource for Novo on whether ot not to enter the FVIII market. JMHO.

 

Timing is off by one day. Leaders will be sacked tomorrow, Tuesday, and staff on Wednesday.

 

Nice to see the Novo way of management improve. In the past leaders would have to fire their staff before getting sacked.

 

new recruit system begins 10-01-2018....check globeshare. Watch the video.

 

R&D restructuring announced today. 400 colleagues in Denmark & China are being released to fund more external opportunities. Novo claims they will now focus on transformational research. One would think is about time. The problem is that CSO Mads Krogsgard fucked up every time he tried this in the past. Hard to believe he get the chance to do one more round.

 

CSO Mads fucked up the research but is good at having a good time personally. Open marriage anyone? Guess he is kept around one more time to explore his personal passions.

 

no mention of NNI development positions in Plainsboro? Is Novo planning on leaving NJ or something?

 

Hope Mads is having a great time tonight banging his girlfriend from Patient Relations. The rank and file employees who will be fired tomorrow, Wednesday, will probably have a different kind of evening and night. Based on today's announcements they will be sacked in groups because there are so many terminations. Must be the absolute low point for Novo Nordisk in living memory. So disrespectful and against our value of treating everyone with respect. Shame on you!