anonymous
Guest
anonymous
Guest
So…10am zoom call. They finally have the guts to say its over. BDSI is a piece of SHIT!
Honestly unsure how so many educated and somewhat well paid people could be so misinformed regarding how an acquisition works. This was not a merger and we were informed of the severance on 2/14. For those of you unaware of what that means, it loosely translates to unemployed.
The board agreed to sell BDSI products because our Salesforce (as a whole) has not performed. We couldn’t sell multiple products and the stock hadn’t moved in years. It’s business. The board made that call, not ELT. You’re lucky they fought to ensure unvested stock was paid in full and that collegium would honor the (admittedly poor) severance package.
Stop blaming others for your inability to read SEC filings and other public information. Anyone with a bachelors in business would understand that BDSI could not give direction to employees once acquisition was announced. As of 2/14 BDSI had to adhere to collegium’s policies as we technically were operating under their rules of engagement. Per insider trading laws and regulations neither BDSI or Collegium’s board could disclose the acquisition to anyone (which includes KP SH) prior to announcing it to all investors on 2/14. And again, they actually fought for full stock pay out (regardless of vesting as this was not a desperation sell) and raised salaries to reflect in the severance. The board could have taken much more and ran, but I’m assuming SP actually fought on y’all’s behalf.
Did no one notice when Herm was fired and Jeff (from the board!) took his place? They were furious we didn’t let ppl go during covid. Who do you think kept our jobs afloat while TMs watched tiger king and complained about logging email calls in Veeva. SP KP SH. And now you want to complain while they receive the same fate as you?
the reason that nothing was communicated to the Salesforce regarding retainment is because the federal trade commission had to approve and so did SEC. any of you were welcome to listen to the collegium investor calls where it was stated numerous times that they did not plan on keeping BDSI Salesforce. This is not KP, SP, or SH fault. Look in the mirror for once, either you grew your business for all products or you didn’t. As a whole, we didn’t and the board sold the products, not us. collegium made that quite clear on their public calls and based on the price of the deal. $5.60/share? Anyone who thought collegium would take on more than a few ppl where they HAD to given that they call on the same docs if beyond comprehension. If I get a severance tomorrow I’ll be buying y’all a mirror.
BDSi paid out a Q3 bonus (of $7500) to those who didn’t meet goal/declined. All over a generic that never impacted TMs Q3 sales. Didn’t see anyone crying when ELT saved their butts at that time. Almost every TM received a raise prior to close of the deal, yet again don’t see anyone saying thanks for that….
The reps retained were based on collegium’s understanding of where they had A) open positions and B) needing some migraine reps with actual neurology relationships.
As for those complaining about selling an opioid and stating this was a crap company, then I hope you’re ready to explain why you took the job to begin with, why you continued to sell a product you didn’t believe in, and please feel free to forfeit the severance or anything else given to those laid off tomorrow… given your new found moral high ground.
And give the higher ups who fought for you a break. They’re losing their jobs as well. They’re taking the same severance. Found out the same time, most have higher strike prices! They have families and yet they’re running around writing letter of recommendation and helping you complainers with resumes.
BDSI was a great company, but after reading some of these comments I don’t blame collegium for not wanting to take you on.
-a rep who wasn’t retained, cares about the disease state, products, patients, and previous bdsi employees.
So ?? On final bonus payout in May. I’m not trying to be greedy but am frustrated that we don’t know how much to expect? My providers were still not aligned to me as of the last ranking reports so does that mean I get nothing? It is what it is but I am just curious if anyone knows the answer to that. Thanks so much and happy job hunting everyone!
It is legal and the job market is extremely crowded with lots of displaced reps looking. Good luck all!We knew it was coming but obviously reality kicking in now. How do they only give us 8 days notice and no benefits for April? Doesn’t seem legal. Wonder what percent of us will be able to find a job in 4-8 weeks. Took me 6 months to find the job at BDSI. Good luck y’all!
So when does the stock payout?
So when does the stock payout?
When do we get paid on it?
It makes perfect sense. Kevin B is well respected in the industry. The shenanigans and hostile workplace environments created by KP, SH and SP at BDSI and their previous company are also well known in the industry. KP, SH and SP are Human Resources liabilities so Collegium cut them lose.Still shocked they let go of the good old boys KP SH SP? And to keep Kevin B? How does that make sense?