How will we find out?


Agreed. It’s done and done without any regard or respect to the salesforce in general. Many stayed in the field, also looked for other employment opportunities. The writing was on the wall in the initial Bailey call. I also believe that far too many reps took at face value the garbage that revolved around Collegium having a small force and would “need” BDSI reps. That message was relayed multiple times and kept many from doing their due diligence and aggressively looking for an alternative. This industry is rewarding yet cruel. This is one of many examples. Having said that I still hold Plesha and his minions accountable for lack of transparency and how they chose to communicate to those who were being offered to stay etc. He and his henchmen did not, and have not offered any true closure to the majority of the salesforce and kept them engaged and now the blunt of this underwhelming BO is on the shoulder of those without existing opportunities. BDSI had something to offer, it was an exciting time for sure and many, myself included thought it would reach to new heights. Wrong and it’s a shame really. Best of luck to all.


Plesha, Patten, Haggerty and Bailey are soul less. They lie through their teeth. They are so good at it they believe their own lies.
 

They had nothing to do with this acquisition and are in the same boat as the rest of the sales force. They shouldn't be blamed for this. The ELT is to blame and no one else.
 
Management signed a confidentiality agreement, so legally couldn't say anything. However, on the Elyxyb launch, we never got any samples, never got the correct target list, and were told that "we thought of everything"!!! Before, nobody wanted to buy BDSI. But the Elyxyb deal and Belbuca sales are so attractive that Collegium could not pass up on a $3 stock. Bargain basement price for a profitable company. Collegium already said that there are $75 million in synergies (redundancy and layoffs). Sounds like there are about 100 being let go and so there should be a WARN period paid, 60 days. As well, they should pay a full Q1 bonus allocation since management botched Q1 for the sales team. Now is the time for Collegium/BDSI to compensate those who are displaced. Screwing sales reps would be damaging to the company reputation, and we would not want anyone to know that we are "not helping patients anymore".
 
Because of the stock thing? What was it like buy back or dilution? Did herm hire a new sales force for a new division and then get rid of them? No. SP did, he’s on the board lets not pretend like this purchase came out of no where. We acquired a drug for the neurology division in august / September. Moved reps for it in October. They already knew what the plan was going into the new year. Remember the hiring freeze last year for migraine division? Now we know why. People quit jobs to come here for this BS.
 
yes absolute bullshit this was all known by the ELT - I am assuming there will be atleast 100 lay offs but knowing Collegium they might keep it under 100 thereby not having to pay the 60 days…would not be surprised at all if it’s severance plus accrued vaca and good bye

no q1 bonus no 60 day pay

Good luck to us all!
 
“Management reserves the right to alter the “Incentive Plan” at any time and at its discretion under appropriate circumstances”

Scott frequently posted the above on the comp plans. They don't have to pay shit.
 


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