Mgmt get$ paid big $! sales reps, not so much

Anyone else sick to read how much mgmt was getting (apparently their salaries/bonuses are higher than Google execs!! Much higher than industry standards?!) whilewe, the sales reps worked their poor plan to only get paid pennies?

 

I can't believe that they screwed us on bonus the entire year because we didn't perform but paid themselves for launching Qsymia!!! CROOKS!!!

 

Read the fine print. No! I am not from vivus. I want to be. I am actually a rep who wants Qsymia to build into what I know it can be. I have been watching all of this unfold and think it is funny how we have to stay on label, but every other industry in the world can pretty much say, print, or advertise anything they want... Read the fine print it states the facts by % increase over previous years when there was no bonus program..... $1.00 would have been 10000000's% and that alone would have made it more than those others. No. I am not hapy with what I am making. Neither is my boss. But yes i believe it is coming and that we will be part of making Qsymia a blockbuster.

 

Pay Exercised
Mr. Leland F. Wilson , 69
Chief Exec. Officer and Director 1.16M 8.32M
Mr. Peter Y. Tam , 49
Pres and Director 952.00K 6.58M
Mr. Timothy E. Morris CPA, 51
Chief Financial Officer, Sr. VP of Fin. & Global Corp. Devel. and Sec. 708.00K 5.83M
Mr. John L. Slebir , 48
Gen. Counsel and VP of Bus. Devel. 560.00K 217.00K
Mr. Michael P. Miller , 56
Chief Commercial Officer and Sr. VP 629.00K 1.32M

 

Leland F. Wilson
Base Pay
$738,000 Bonus + Incentive Comp
$405,900 Total Cash Compensation
$1,143,900
Stock Award Value
$0 Option Award Value
$2,742,717 Total Equity
$2,742,717
Total Other
$11,777
Total Compensation
$3,898,394

 

Get real - these Execs are making less than big pharma bigwigs i have worked for in the past!!

Its no different anywhere else.

 

WRONG. The difference is this IS NOT big pharma AND these guys have made mistakes EVERY WEEK that are costing shareholders big bucks. They have no success and yet they are rewarded. The company is BROKE. These guys are FAT CAT RICH and have done nothing but swing & miss on the launch.

 

part of the proxy fight mob, eh? whatever. so i suppose hedge fund guys are paid less for more work?? right.

just let me be so I can make bonus money.

 

Not hardly the proxy mob I'm just a rep that wants to also make money . I also did buy stock and will be voting my way. I think we have all been slimed by this company and empty promises. Most of our bonus this quarter will be less than 2500. Before you say you must be a shitty rep look at the national average. Also I have been top in district since launch and still money sucks. You must be part of management.

 

Ditto. I want mgmt GONE. I'd love to stick around and sell Q for 10 years but that doesn't happen in pharma anymore. No matter who is at the helm, this ship will be sold. Little companies do not sell blockbusters. Look around. It doesn't work that way and Vivus has been just another example of why it doesn't work.

Big pharma will buy and the people at the top will get big bucks no matter who is running the show. Sell at $20 or sell at $40. They are getting rich to just be lazy, incompetent and stupid. It's the American way. They are lucky. We are fools.

 

Agree with above poster. I know we all took a leap of faith but this is getting ridiculous.

 

The fact is that finding an executive capable of keeping a company in business is much more difficult than finding a sales rep capable of regurgitating a sales pitch and coordinating Subway foot long deliveries.

And you are paid accordingly. If you can find it better elsewhere, do it.

 

Execs are a dime a dozen.

And subway doesn't deliver.

LOL

 

As an investor, I am disappointed to see that senior management rewarded themselves for what has been acknowledged as one of the worst drug launches ever.
Obviously they dont read the press about missing analysts revenue forecasts...Who is accountable then, the reps????

 

The reps have done the best they could given what they had- large territories, inaccurate target lists and direction from management that changed with the wind direction. What'd u expect?

 

It had everyting to do with mail order pharmacies and the hassle factor...look at the most recent three weeks of RX data since the retail pharmacy availbility.

That was the reason for the drag on demand. The reps knew it, the docs knew it and the company said it too.

Look for the new BOD to take full credit for the instant, flip a light switch "turn around"

 

The rental rep sales force will be gone as soon as another sales force gets Qsymia in its bag.

 

I would not be so sure. Qsymia has the potential to emerge as a Blockbuster! Drugs do not become Blockbusters by slashing reps, they become Blockbusters by adding them. The "rental rep sales force" as you called them have been trained, they know the product and have worked hard. Do you know their salaries? I do, trust me they are not getting rich! They are worth what they are being paid and should remain selling Qsymia.

 

The problem is more than half of the reps aren't producing scripts-some as little as 20 something a week

 

Hopefully retail will help.