Warning to US Workers

You many want to update your CVs ASAP. I'm sorry to be the bearer of upsetting news.

 

Amazing it's taken this long. Had to be blind not to see the writing on the wall. Is the company actually a going concern in any country? Or just Novo's tax write off?

 

Surprised Perelman is going down with the ship. Figured he would have bailed at the first sign of water.

 

Bucky the Pirate has struck again!

 

so, what's the ETA of the implosion?

 

It may be this week.

 

Surprised they are still there as after the cuts last Spring thought it would not make the year. I hear that they extended their CSO contract so I am not sure what is going to happen but nothing surprises me with that leadership team.

 

Did DeLuca leave? I thought he was on the management team website at one time. Not now.

 

Does anyone know what is going on with this company and PSS? I heard a while ago that they were being sold and another company actually wants this product. Just curious if they have a sales force or if the contract reps will still be in place.

 

If another company wanted this product (which is, by the way, something like the 6th immediate-release fentanyl in a contracting market that is rapidly going generic and, oh, by the way again, covered by the most restrictive retail REMS on the planet), Archimedes should dump it like a lead balloon. There is absolutely no upside to this product. Developing this product was a great idea 15 years ago. But there is no place for it now. Too many competitors beat them to it, and now the whole market is toast.

 

I agree. Can't see them selling it though as they need this product for the overseas business. Know they are still selling it in US just not enough of it. Think it will continue to be a slow churn going forward. Thought they were going out last year but here we are a year later and they are still here.

 

Can they make enough in Europe to keep US going?

 

Brilliantly stated!

 

Barely and only by regularly chopping costs and such a lean sales force they hardly b/e. must be a high profit margin otherwise anyone with a business brain would've bailed unless their careers were dead in the water.

 

Can't imagine anything is left to cut, and I can't imagine the board tolerating this situation for long unless something dramatic occurred (like a change in management!). I'm amazed this has gone so long without any major change at the executive level, tho I see DeLuca is no longer on the website. Not sure if he left and whether it was voluntary or not.

 

Archimedes Pharma announced today that they sold US activities ans Laanda rights for US and Canada to Depomed Inc.
In 2010, investors injected 100M€ to develop business in US and appointed Buchalter... 3 years after, that's a big fail and after Enzon the second ones for Buchalter

 

Oh my god. Depomed got this for $4 mil!

"Lazanda was introduced by Archimedes in Europe in 2010 under the trade name PecFent® and in the United States in 2011. Depomed acquired all United States and Canadian rights to the product in return for $4 million of cash, royalties on net sales, potential milestone payments based on increased sales of Lazanda and assumption of certain liabilities. According to Source Healthcare Analytics, sales of Lazanda in the U.S. were $3.3 million for the 12 months ended June 30, 2013."

 

Bucky the Pirate has struck again! He lined his pockets with booty while he plundered the treasure chest!

 

Lazanda revenue probably didn't even cover Bucky's salary!

 

i can confirm!