This is a test to see how honest you can be with yourself. Dig deep and discuss...
1. Don't you feel just a little bit remorseful that you didn't leave cubist 3 months ago for more money when you had the chance? No, not really. The choices at the time were Durata which would have put me in the same boat or Medicines, and I'm not really sure that I would feel like I would have a long career with Medicines either. Seriously, how many Medicines folks really believe the company or they themselves will still be in the same role 2 years from now? I am sure that the newer CBMs with no stock at all have some regrets, but for anyone that has been here for 3 or more years has no regrets.
2.Do you feel betrayed by the heartless assholes that sold cubist while begging you (and threatening you with legal action) to stay? Again, not really. Being heartless has nothing to do with it. despite what you may think Greg or Rob don't sit around and make the decision whether to sell Cubist or not. If a company makes an offer to a publicly traded company then the entire board of directors which represent the shareholders makes the decision. If you think that Medicines and it's board wouldn't accept a significant premium on their stock from a suitor simply because they care about you then you are being naive. A publicly traded company would reject an offer for one reason and one reason only, and that's if they feel that the stock will go even higher by remaining independent. With MDCO stock having a 10 year high of $38 and do you really think the board would reject a $38 offer today which would represent a 50% premium on the price? I think you know the answer to that. If you are lucky enough to get that price then you'll make a tidy $65k with your 5,000 options.
3. Aside from making money on the stock, are you generally disgusted with how this unfolded? If it had unfolded where we were sold at a discount to the market, or that they had not given us any stock mid-year, or that our existing options did not all vest then yes, I would have been disgusted. I've been thru this before at a former company and as far as buyouts go the perfect scenario is full vesting, good severance, extended benefits, unused paid vacation, full bonus payout, and a possibility of being retained for those that choose to do so and we are got all of that. In terms of timing, had the news around the patent come out a day earlier then it would be an entirely different story. In hindsight, had it not been for the Medicines company then none of the RBDs or CBMs would have gotten any stock or salary bumps in August they way they did. So that too worked out in favor for many of those that stayed. So really, I don't see how this entire thing could have unfolded any better. Yes, sad for home office employees or newer people that did not have any stock but as we all know this type of thing happens and will continue to happen our industry. Such is the life we choose at small pharma. If you left and are happy you did, then good for you. Just don't be pissed if there are also people that are glad they stayed. Everyone can be happy with their choices, there doesn't have to be a winner or loser in this.
