Stock went up since investors realized what new ceo would.
He will fire people at all levels, close the plants, manufacture using cmo, reorganize research with more work by cro, sell the irelend operations, all to improve the company bottom line.
He did not accomplish a lot at Genentevh, other than closing manufacturing facilities.
This may be anticipated at Biomarin as well with letting many people go. He will bring people from Genetech and will get rid of people who were hired from other companies like Merck, Amgen and other. This may also affect operations in Ireland that lack competence. Since improving pipeline cannot be done, he will act quickly by letting people go to improve the bottom line. Would also replace ineffective research team.
Many changes coming soon.
The CEO is out. Marketing approach did not work
New CEO from Roche-Genentech. Roche is a mediocre company
Could he save the company?
Company cannot become a target for acquisition and it will take time to build up any good pipeline.
House cleaning and getting rid of dead wood would happen soon.
Micromanagement, poor sales tactics expectations, low pay for the industry, and insufferable management in CNS, all the way up to SB who couldn't make it through a POA without having a slide-deck about her grand vacations.
The entirety of this company that is legacy Forest is utter trash. You're better off working at Taco Bell; they probably at least say "thank you" for your efforts.
CMB lab is the worst Lab ever. Jerry Fan the owner, is always watching you, intimidating you, watching you do wrong. Yet never communicates with staff. CMB has so many violations not sure how CAP has passed them (hush money I hear). The owner is cheaper than fk thats why this company has never thrived like the rest. Im glad i dont work here anymore.