Worst company ever

I can't believe this. This company can't retain us all but still want to enforce our non competes and prevent us from getting other jobs. Calling my attorney ASAP.

 

Who said they are wanting to enforce the non-compete? I was told that had not been decided yet.

 

Get the f outta here. My attorney, my ass. You're a moron like all of these lazy, dumbass RBDs and TBMs.

 

It was said in the last call, you idiot. Weren't you listening? Or already checked out?

 

What are you doing about the non compete? Is anyone applying to the cubist openings?

 

Cubist and TMC are who the non-compete was made for.

 

A shining example of the worst IQ in sales history. This moronic poster is an accurate reflection on the idiot tbms and RBDs that work in this company. Seriously, man, get it together. What the hell are you thinking? Idiots!

 

So true! With few exceptions this company has the worst employees ever.

 

What the F do you know, the company is only 3 months old? If you were a part of it, it was too young to judge appropriately. If you were not a part of the company then you really don't know shit.

Durata has great employees & a great product. Unfortunately we never got a chance to show what we can do. We were sold 2 months into launch, had a slower launch than anticipated due to a bunch of variables but if given a year this thing would've taken off.

Unfortunately no one will ever know. So take your uneducated/negative comments and shove em' where the sun don't shine.

 

My opinion only

Durata had a small timeframe to make an impact on the market and chose to do so by hiring experienced reps to hit the ground running. What materialized was that the Durata lost a bunch of these experienced reps to MDCO and the field was in turmoil. For those experienced reps that did remain they did not succeed in making an immediate impact as expected. With only one marketed product and Durata being a publicly traded company, it would soon need to report earnings as well as disappointing sales of Dalvance. With each and every subsequent quarter of dismal sales the value of the company would diminish if it waited any longer. Had the uptake of the product been better then perhaps the board would not have been so eager to sell to the first bidder. The sale was a knee-jerk reaction to a situation where poor sales led to a poor prognosis for the future and the bird in the hand mentality of the directors.

The Medicines Company is a slightly different situation. They (Brent) took a strategy of aggressively targeting successful Cubist reps as well as former Cubist reps at both Cubist and Durata and paying above market to get them. The idea was that these reps would again hit the ground running and make an immediate impact with Orbactiv. A lawsuit by Cubist put a damper on things and hampered the ability of many of these former Cubist reps to make an impact with the customers that they had build relationships. The problem was that those that weren't impacted by the lawsuit weren't making a quick impact either. So the Medicines Company is then left with an expensive lawsuit on its hands as well as a bunch of highly paid reps that aren't making anything happen with the promised "relationships" they had. Brent's strategy failed badly and is costing the company millions and hence he was made the fall guy.

The morale of both of these stories is that both companies underestimated the challenges in the market and overestimated the ability of the experienced reps to make an immediate impact. Poor sales lead to a poor outcome for everyone involved. The Durata reps will go to Actavis if they are lucky enough to be among those retained and the Medicines Company reps will either be sold off with the company or endure hell on earth in the coming months if sales don't improve.

 

You are generally right but 1 major point that you are missing is time. It takes 12-18 months to truly see the outcome of a hospital sales product launch. So many factors that take time: reimbursement, formularies, P&T meetings, pull-through, etc....

Even with the hurdles & distractions, Durata never got a shot to win in the long run. MDCO might have the pockets to see this thing through, but I doubt it will with a shit product. Actavis will end up being the long term winner here. It will be a long tough road but in 2 years, with 200+ reps selling Dalvance, it will be a smash success.

Such is life in the pharma world, no hard feelings, onto the next adventure.

 

You are not even close. The experienced people that left Durata to go to Medicines company started leaving in August . If you look at the Durata filing they started talks in June, so those people would have been in the same boat as the rest of us fools that believed the company wanted to thrive. So moral of the story is good for them for having the fortitude to leave. As far as throwing "high amount of money" Medicines company has always had a solid reputation of paying their people what they believe they are worth, this wasn't a new strategy to get people there. I have friends that have been at the company for years so I know this for sure. We were duped by Durata that's the bottom line

 

Wrong! Company A approached Durata in late July for a co-promote which then turned into a merger with a formal offer coming on August 22. That's when the board opened things up to other companies that might be interested. Get your facts straight. Start reading on page 13. http://www.sec.gov/Archives/edgar/data/1544116/000119312514375108/d805914dsc14d9.htm

 

I think the prudent move is to wait before joining any company to launch an antibiotic. I agree that it takes 12 - 18 months if not longer to get things rolling. Usually in that time the initial hires get frustrated and leave or get fired. It's much smarter to take a wait and see approach and join in the 2nd wave. By doing so you come in and look like a hero when sales pick up because the timing is right. The wait and see approach also gives you more insight into the leadership, culture and marketing strategies of the company. Jumping into the first wave here at Durata as well as The Medicines Company was just plain risky. With the benefit of hindsight I'm sure most that are here or at Medicines would not have made the move if they had the information they have now. Live and learn I guess. Next time around I wait for the 2nd wave to join a new company.

 

Wow, that golden parachute is nice. Getting double the annual target bonus and having your pay and bonus including options grossed up? That's awesome, good for them.


Golden Parachute Compensation
The following table sets forth the information required by Item 402(t) of Regulation S-K regarding the compensation for the Company’s named executive officers that is based on or otherwise relates to the Offer, assuming that the Offer will be consummated on November 17, 2014, and that the named executive officer’s employment will be terminated by the Company without “cause” or by the named executive officers for “good reason” (as such terms are defined in each named executive officer’s employment agreement with the Company and the Severance Plan) on the same day. The table below describes the estimated potential payments to each of the Company’s named executive officers under the terms of their respective employment agreements and the Severance Plan, together with (i) the bonus payable to each named executive officer under the Company’s Bonus Plan, (ii) the value of the unvested Company Stock Options that will be accelerated in accordance with the terms of the Merger Agreement, and (iii) the estimated potential value of the Section 280G Gross Up Payment, if applicable. The amounts shown in the table do not include the value of payments or benefits that would have been earned, or any amounts associated with equity awards that would vest pursuant to their terms, on or prior to the initial expiration date of the Offer or the value of payments or benefits that are not based on or otherwise related to the Offer.
For purposes of calculating the potential payments set forth in the table below, the Company has assumed that (i) the initial expiration date of the Offer and the date of termination of employment is November 17, 2014, and (ii) the stock price is $28.00 per share, which is the Offer Price (assuming that aggregate payments under the CVR in respect of each share will be $5.00 per share). The amounts shown in the table are estimates only and are based on assumptions and information available to date, including an assumption that the enhanced severance

9
Table of Contents

benefits to which the named executive officers are entitled under the Severance Plan will be paid in a lump sum on the first payroll date following a qualifying termination of employment and that the bonus payments under the Bonus Plan will be paid in a lump sum on the first payroll date following the Effective Date of the Offer. The actual amounts that may be paid upon an individual’s termination of employment can only be determined at the actual time of such termination.

Name

Cash(1) Equity(2) Perquisites/
Benefits(3) Gross Up(4) Total Value
Paul R. Edick

$ 3,627,500 $ 4,991,852 $ 30,073 $ 2,372,117 $ 11,021,542
Corey N. Fishman

2,766,250 2,093,781 44,372 1,709,846 6,614,249
Michael W. Dunne, M.D.

1,389,308 1,966,087 1,071 870,175 4,226,641

(1) The amount listed in this column represents: (i)(a) in the case of Mr. Edick, 24 months’ base salary based on the salary in effect as of November 17, 2014, which amount is payable in equal installments over the course of 24 months following termination, and 2.0 times his target bonus for the year in which his employment is terminated, which amount has been assumed for this purpose to be payable in a lump sum on the first payroll date following termination and (b) in the case of each of Mr. Fishman and Dr. Dunne, 18 months’ base salary based on the salary in effect as of November 17, 2014, two-thirds of which amount is payable in equal installments over the course of 12 months following termination and one-third of which has been assumed for this purpose to be payable in a lump sum on the first payroll date following termination, and 1.5 times his target bonus for the year in which his employment is terminated, which amount has been assumed for this purpose to be payable in a lump sum on the first payroll date following termination, and (ii) bonus payments under the Bonus Plan in the amounts of $1,650,000, $1,900,000 and $500,000 for Mr. Edick, Mr. Fishman and Dr. Dunne, respectively, which amounts are payable on the first payroll date following the consummation of the Merger. The cash payments payable pursuant to the severance arrangements are double-trigger benefits in that they will be paid only if the executive officer experiences a qualifying termination of employment following the Effective Time. The cash payments payable pursuant to the Bonus Plan are single-trigger benefits, which will be triggered by the consummation of the Merger without regard to whether the executive’s employment is also terminated.
The 2014 base salary and 2014 target annual bonus for each named executive officer is as follows:

Name

2014 Base
Salary 2014 Target
Annual Bonus
Paul R. Edick

$ 565,000 $ 423,750
Corey N. Fishman

385,000 192,500
Michael W. Dunne, M.D.

395,248 197,624

(2) The amount listed in this column represents the value of the unvested and accelerated Company Stock Options held by the named executive officers as follows as of November 17, 2014:

Name

Number of
Unvested
Company
Stock
Options
Subject to
Acceleration Value of
Accelerated
Company
Stock Option
Vesting(a)
Paul R. Edick

371,981 $ 4,991,852
Corey N. Fishman

149,983 2,093,781
Michael W. Dunne, M.D.

139,472 1,966,087

(a)
The value of the unvested and accelerated Company Stock Options is the difference between the Offer Price of $28.00 per share (assuming that total payments under the CVR for each share will be $5.00 per share) and the exercise price of the option, multiplied by the number of unvested shares underlying

 

Actavis will end up screwing up a good drug. My pharmacists are complaining about the recent price increase for Tef. and I wouldn't be surprised if you see a future price increase for Dalvance. Actavis is not a smart company so it will happen. The only people that lose are the patients.

 

So this thing will go down on Nov 17 and we still don't know what will happen. What a crock of shit!!

 

They aren't going to announce an implementation plan prior to the deal closing. They likely know 90% of what is going to happen but of course haven't finalized & communicated it until the deal is final.

So stop f$@cking complaining because you have no idea what you're talking about.

 

+1

 

How bout go F$@k yourself dickhead