Close at end of March

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anonymous said:
Abbvie Manager Observation: It's kind of funny seeing the number of ex-Abbvie/current Horizon employees interviewing to come back to Abbvie! A number of these folks bragged about career and salary advancements as reasons they went to Horizon. Well, we don't want you back!
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Maybe internal because not many options locally. Not in sales. Your sales team is pretty pathetic reps and leadership.
 




anonymous said:
OP here...100% true. I personally know the East regional and that was the exactly what he said. Being used as a promotional opportunity for those on Cosentyx and Entresto.
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Wow. Not only are you not the OP, but the East RD has said the exact opposite of that…as has the West RD. They want neph & rare disease experience. Novartis does not give a damn about promoting from within across divisions. Never have. If that is, in fact, what you were told, though, then I’m sure it was just to let you down easy because they don’t want you.
 










anonymous said:
Abbvie Manager Observation: It's kind of funny seeing the number of ex-Abbvie/current Horizon employees interviewing to come back to Abbvie! A number of these folks bragged about career and salary advancements as reasons they went to Horizon. Well, we don't want you back!
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Ditto at Astellas. We don’t want you here!
 




anonymous said:
No they bought us for our people. They have been very impressed with our operations and profitability. They laid off people in overweight divisions. We are lean.

Most everyone in sales will be safe. Still not closing till June.
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Bought us for the people. Bwahahaha! Another good one! You’re killing me!

Yeah, that lack of retention bonus shows just how much they value the people. Hahaha!
 






anonymous said:
Your unvested rsu is your retention bonus idiot.
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No, that should have vested when the deal closed, moron. And to the poster before, Chemocentryx got their retention bonus offer before the deal closed. Everything for us is disclosed in the transaction agreement. Any retention bonuses were already determined (only for certain execs).
There WILL be massive cuts no matter how much you morons want to believe it’s not true.
 


anonymous said:
No, that should have vested when the deal closed, moron. And to the poster before, Chemocentryx got their retention bonus offer before the deal closed. Everything for us is disclosed in the transaction agreement. Any retention bonuses were already determined (only for certain execs).
There WILL be massive cuts no matter how much you morons want to believe it’s not true.
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Sound have...could have...would have. They aren't vesting and if you are mad send an email to Tim who negotiated the deal. You sound like the moron.
 






We aren't getting any type of "retention bonus". They structured the deal in such a way that the RSU's don't get paid out and Amgen feels that will work as a retention bonus. They are also making another level of KAM type position for us since almost all of our salaries fall outside the current KAM salary band. I also heard that our potential of bonus won't be typical Horizon level but will still be really good with plenty of opportunity to make well over 16k a quarter. Apparently Amgen is open to keeping it that way to. We'll see- hearing a lot of stuff and all of it good which makes me think must be a catch!

The reality is most of our sales team make significantly more than the management team at Amgen. Our management team is making more than regionals there. Creates a problem.
 


anonymous said:
We aren't getting any type of "retention bonus". They structured the deal in such a way that the RSU's don't get paid out and Amgen feels that will work as a retention bonus. They are also making another level of KAM type position for us since almost all of our salaries fall outside the current KAM salary band. I also heard that our potential of bonus won't be typical Horizon level but will still be really good with plenty of opportunity to make well over 16k a quarter. Apparently Amgen is open to keeping it that way to. We'll see- hearing a lot of stuff and all of it good which makes me think must be a catch!

The reality is most of our sales team make significantly more than the management team at Amgen. Our management team is making more than regionals there. Creates a problem.
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Omg. We know how the stock works and that there won’t be a retention bonus.

They haven’t even come close to creating an IC plan. Keeping the target payout has been known since December since it’s in the public transaction agreement. Feel free to ask Chemocentryx about how their IC plan changed - not good. We all also already knew about the KAM situation as that’s what happened with Chemocentryx for the same reason.

Chemocebtryx barely had any reps and still some were laid off. They did not “buy us for the people” and there will be plenty of layoffs. I am floored that we have people so incredibly stupid that they believe otherwise. It’s just painful.
 


anonymous said:
Omg. We know how the stock works and that there won’t be a retention bonus.

They haven’t even come close to creating an IC plan. Keeping the target payout has been known since December since it’s in the public transaction agreement. Feel free to ask Chemocentryx about how their IC plan changed - not good. We all also already knew about the KAM situation as that’s what happened with Chemocentryx for the same reason.

Chemocebtryx barely had any reps and still some were laid off. They did not “buy us for the people” and there will be plenty of layoffs. I am floored that we have people so incredibly stupid that they believe otherwise. It’s just painful.
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There’s a crazy difference between chemocentryx and Horizon. Horizon is already extremely profitable and revenue is still growing. In fact, the revenue per Horizon employee is off the charts. Amgen isn’t going to mess with it in the near term. That’s why I believe Bobby B - for now.
 


anonymous said:
There’s a crazy difference between chemocentryx and Horizon. Horizon is already extremely profitable and revenue is still growing. In fact, the revenue per Horizon employee is off the charts. Amgen isn’t going to mess with it in the near term. That’s why I believe Bobby B - for now.
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No one has promised that our IC structure won’t change - just that the target IC amount won’t change & will remain uncapped. Most plans at any company are technically uncapped, but they structure it in such a way that even those that blow their goals out don’t make much more money than those at target.
It was just clarified on the KXX spiff call that the structure of IC is not guaranteed. JH can speculate all he wants to as to who will determine it, but that means nothing.
As far as Chemocentryx goes, first of all, they wouldn’t have bought the company and left the majority of people in place if they didn’t believe it to be successful. Secondly, just look at Otezla. Amgen spent half of what they spent on all of Horizon just for one drug and kept their salesforce - it was EXTREMELY profitable, yet they changed their IC structure very quickly, too - and theirs was amazing. Yes, you can pick apart the differences between each acquisition, but Amgen has made it clear that they have no intentions of just letting us run as is. As stated in the email about layoffs, etc which verbiage was taken from an SEC filing for the transaction agreement: “We believe Amgen is committed to a thoughtful assessment of the business and plans to develop an organizational structure that will draw on the best from BOTH companies.” Over and over again. I’ve heard Amgen leaders talk about combining what each company does well.

But feel free to believe the BS speculations of the leadership here.
 



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