Teva layoffs 2022?

The current gossip is the new LAI did not get approved and "might" be approved in 9-12 months. So they are now repurposing that sales team to sell Austedo with everyone else. Lol! When do you think Teva will have another layoff? I saw a post for Sept. I am betting sooner. I think teva will know in a couple of months if they are gonna get that LAI fda approved. I don't think it will get approved and a reorganization will happen in 2 months. I would love to know other reps perspectives on this

 

Three months max!

 

End of summer

 

I will bet teva lays people off in December

 

Who ever really knows. But as an Austedo rep I am nervous. It is probably not a bad idea to update my resume.

 

Use your head, Teva is not going to walk away from this after investing $$$. It all depends on how quickly the resubmit goes. 1-3 months = no problems. 6 months rep salary is a drop in the bucket compared to investment and profit potential. 6-9 months will be a problem. Launch will happen, question when and who.
Realignment will happen in 1.5 to 2 years when they start to combine responsibility for both.

 

If teva believes they can get it approved in 3 months, i doubt they would train them on Austedo. I think teva knows it will be 9-12 months. Which is the big problem. Teva does not have much of a profit margin. Maybe next year they will have the additional money with the launch of biosimilars, but right now teva does not have the cash to have an additional salesforce cutting into other drugs profit margins. Teva and Neurocrine are both going to report they missed earnings and revenue for Q1. If I had to put money on it. Teve lets the Uzedy reps go the week of May 2nd. The day before they report earnings and revenue misses. They will announce the lay off of Uzedy reps to keep their tight margins out of the red for Q2,Q3 and Q4 2021. Trying to make sharholders happy and keep the stock from going below $9 a share. Then will relaunch Uzedy Q1 or Q2 2023 bringing back any reps that want to comeback. Teva just does not have the disposable income right now to keep the Uzedy sales people. They may keep some to backfill NeuroPsych and NeuroScience. Teva is training these reps on Austedo because they need to give them something to do while they figure out what to do. But in the end it is all about what the company needs to do to keep its head above water with all its debt and lawsuits until next year when they can go after the Humira business (statement from MotlyFool). Delayed launches happen all the time in pharma. This stinks but this is also the risk with drug launches. Sorry Uzedy reps, but this is probably what is going to happen.

As for your comment on 1.5 to 2 yrs for realignments....Teva seems to do reorganizing every 3-5 years which is also becoming an industry standard. So, you might be right, but that will also depend on the companies profit margins and drug pipeline.

 

This is inaccurate. The cost of the entire Uzedy sales force was around $34 million. The plan all along was to launch Uzedy in ‘22, with the expectation to do $32 million or so. Additionally, the plan was to add Austedo to the Uzedy team in ‘23, I assume not heavily weighted. Lastly, the targets are very similar. The hospital team will be LTC reps. The goal to was to achieve a billion or more. Figure you add the additional head count from the Uzedy team, and there’s a possibility it could do 1.4 or 1.5. As far as the future of Uzedy, I’m not gonna disclose what was said at the meeting but it’s very positive.

 

I don't know where to begin with your post. First, they need to keep you positive. That's the point of your conference. Second, why would they hire uzedy reps to sell austedo later after downsizing two salesforces that were already selling austedo? Makes no sense. One of the reasons to give NP the psychs and the NS the neuros was to keep them from overlapping and tripping up on calls upsetting targets. So why bring in uzedy reps to sell austedo? There are not enough targets for the reps to call on. Third, why do we need more LTC reps? We just hired some and are working with a third party. Everything you said makes no sense. Either you are making it up or teva is lying to you.

 

$34 million is a lot when teva only has $200 million in available cash for a salesforce with no drug that is now cutting into the profits of two other sales divisions that just shrank its salesforces to skeleton size to be profitable. Remember they were laying people off to realign territories to be like they were under copaxone. So, someone is lying. It's either the uzedy guy or teva...time will tell

 

You are gonna have to elaborate on what you heard. No one I know has heard Uzedy reps were going to "sell Austedo eventually anyway". Austedo reps that i work with including myself are not happy about this. You guys are going to call on the same targets as us during a time when all targets are not back. Some of us are worried you guys are going to cause another reorg. This is really bad for Austedo/NeuroPsych moral.

 

Positive meaning what the FDA told Teva as to why they’re delaying it, if you knew what the questions are about it’s minuscule. Secondly, do you think any Uzedy reps want to sell Austedo? No. Was it our choice? No. People left good jobs to launch this. All this is out of control. No rep is making the decision here. Take your angst out on your upper management team. why hire more LTC reps? You have 2 people. 1 on each coast. There’s not a team whatsoever in LTC. Neurocrine has over 60. Lastly, Austedo and Ingrezza are both struggling right now, we’ll below forecast. Just to summarize, no Uzedy rep wants to sell Austedo. All comes down to how they position their LAI franchise. Layoffs for sure a possibility but what I’m telling you is accurate.

n

 

Here’s my elaboration: I just got back from a meeting where every top executive told us that the entire plan was focus on Uzedy in’22 and in ‘23 austedo would be added to the bag too. So essentially with the delay, they’re just flip flopping for now. Of course it’s saturated now. No Uzedy rep wants to sell Austedo. Literally given no choice. “We’re not causing” a re-org man. We’re sales rep just like you are who just care about what goes into the bank account. Take your frustration out on tevas upper management.

 

My plan is to make sure that I have a chair when the music stops again. I won’t say if I was hired for Uzedy, but since we are all Austedo reps, I plan on being the only one if Uzedy gets in big trouble. Sorry, but it’s survival of the fittest.

 

Positive meaning what the FDA told Teva the reasoning why theyre delaying. The data is robust. The molecule has been around for ever. Teva should be ashamed for dropping the ball. As far as LTC, you have literally 2 people. 1 on each coast that are in LTC. Neurocrine has 60 people. There’s opportunities in LTC for sure. Why would the hire Uzedy to sell Austedo? Because like I said, I heard countless times from senior leadership this week that Austedo was always gonna be in the bag for Uzedy reps. They wanted launch and focus Uzedy in ‘22 but Austedo was coming regardless in ‘23. Your questions about downsizing I can’t answer. Obviously higher likelihood things will change, people will
Leave etc. But you’re absolutely wrong if you think Uzedy reps want to sell Austedo. People left good jobs with the anticipation to launch Uzedy. Your frustration should lie with upper management.

 

you know you copy and pasted your own post on several message boards and a couple of times on this one? Just saying it looks like you are not on the level. Also, know we have more then 2 reps for LTC and you forgot to mention Shared Solutions reps and outside contracted LTC sales force. Why are you cherry picking information?

 

you are right. He did copy and past. He also cherry picked information. He got his post from fiercepharma. Here is the whole context of his post:

“We fully trust that our partner, Teva, will remedy this quickly given the positive results of the phase 3 studies,” Douat said. “Teva remains confident in MedinCell’s technology for the development of extended-release injectable products.Analysts at ODDO BHF said it is difficult to measure the impact of the CRL without knowing more. A delay of 9-12 months should be anticipated, although it is impossible to accurately speculate on the calendar for market approval.” they wrote. “Simple questions or a review of production sites would lead to a delay of only six months in contrast to a request for additional trials which would have a greater impact.”

The questions being asked are can the site take constant impact given its location and still be efficacious. Does Teva/MediCell have any data on site location impact? Which means will the FDA accept the data they do have from trials or will they have to have another clinical trial on location impact?

That one guy is cherry picking info to support his argument. But does that mean he is lying about everything else with the salesforce? Idk, but either way it looks bad for Teva and its sales divisions. Why would someone leave a job to take on a "me too" drug?

 

it’s funny to me that your trying to validate information on an anonymous blog. I’m not making an argument here at all. You’re piecing together information from a fierce pharma article? Yikes, get a grip.

It’s apparent you’re shocked to hear Austedo was in play for the Uzedy team in ‘23. You’re trying to come to terms on how that makes sense giving the other 2 sales forces and the history of re-orgs. I get that. Again, I’m not making a case that this will happen or that, I’m simply stating what I heard from upper management and what their plan is. It comes down to if teva will still want to purse approval and the timeline it will take for approval. That’s it.

 

Here's a thought everyone. Just quit with all the speculation and let's just see what we can do with all the added voice and activity in the field now that we have additional boots on the ground with Austedo. Do you not think for a moment that this might just push our Q-3 and Q-4 sales revenue ahead of our 2022 plan?
All this could be a mute point once Uzedy gets approved and we'll all be that much better off because of that.
Damn, just let the process take care of itself and if you dont like what you are seeing or hearing, look elsewhere.