Abbott molecular sold to Thermo Scientific?

Discussion in 'Abbott' started by Anonymous, Nov 14, 2014 at 12:46 AM.

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  1. Anonymous

    Anonymous Guest

    Any rumor about it?
     

  2. Anonymous

    Anonymous Guest

    Confirmed.
     
  3. Anonymous

    Anonymous Guest

    Denied.
     
  4. Anonymous

    Anonymous Guest

    May be sold next week
     
  5. Anonymous

    Anonymous Guest

    Deal fell through on the numbers... but they're still shopping it around. Layoff today to make it more lean.
     
  6. Anonymous

    Anonymous Guest

    Why would Abbott sell their molecular division?
     
  7. Anonymous

    Anonymous Guest

    Do you guys think we will retain our salaries, commission plans, pensions etc... If sold? I heard Thermo is a crap company to work for. Cheap equipment, cheap company.

    Thoughts?
     
  8. Anonymous

    Anonymous Guest

    So is Abbvie YEEE HAWWW.
     
  9. Anonymous

    Anonymous Guest

    What is wrong with Abbott Molecular? What is wrong with products (SP & RT)? Why don't they compete well in the market? Why is Abbott trying to sell their Molecular department?

    ...I thought molecular was the future?

    Serious answers please
     
  10. anonymous

    anonymous Guest

    The biggest issue at AM is the lack of expertise by upper management. There has been incredible change in the past few years. OKelly/Jowett were a complete waste of talent, they sold the company out and formed partnerships that never made any money. Bridgeman came in and again, not focused on the issues did nothing. Now with Andrea and Chaitoff (heard he has resigned as well) again they are so far gone. No investment in new products, yet constantly asking for more from sales team. As the old saying goes, you can't get silk prices for a pigs ear.
    They walked away from Genetics and seriously have little to no vision of the future. Old school Abbott people in management positions that are just recycled through the system waiting for retirement. Most believe Andrea is there to close and sell AM like she did with Animal Health.
    Many of the people at AM are really talented and deserve better. Miles needs to be smacked with that big paycheck and pushed to focus on molecular. They have serious potential if they would only get their act together. Unless they are making BIG MONEY....Miles is not interested. Forgot you need to invest NOW to get bigger returns in the future. I wish everyone there well and hope someone gets their head out of the hole in the sand.
     
  11. anonymous

    anonymous Guest

    The previous post is correct, Chaitof did leave molecular recently.

    Its just a constant turnover of sales leadership in that division. Sales leaders come in, realize how dire it is, and choose to GET OUT asap. They retire, resign, or go elsewhere, with a revolving door of management. Most sales leadership at that division are there less than a year, some as short as 6 months.

    Same can be said for the division presidents too. 5 div presidents in past 7 years.
     
  12. anonymous

    anonymous Guest

    Sr. Leaders that left AM led all of Global and US Commercial Ops. This goes way beyond sales to include strategy, marketing and sales. For a long time, Scientific Affairs was a part of the commercial organization too. I feel sorry for anyone left working for AM. That company has never communicated a sound vision and purposely inflates the LRP "EVERY YEAR". The revolving door of Sr. leaders then pounds on the sales team to meet the goal that was "NEVER" based upon the forecasts submitted. AM Sr. leaders also approved a horrible decision to open a lab (personalize Dx) which competes directly with AM sales reps and AM customers. Lastly, they just don't know when to call it quits. It took nearly 6 years for someone to decide to write off the Xmatrx as a loss. Another hasty and horrible choice...There was no market and the instrument couldn't function.

    Andrea is definitely there to make short term improvements so that it can be sold. The writing is on the wall people. Get out while you can!
     
  13. anonymous

    anonymous Guest

    Any news known?My personal opinion is that this part is very difficult to sold.No improvements, no new projects (in the two basic lines FISH and rtpcr).Competition is not comparable with those one 10 or more years ago. now extremely high.The company/division is not flexible at all, too many managers of "nothing", just warm seats, any executive manager is happy to move after some months to mainly ADD, no strategy at all.I am curious about the future of this part but I think nobody is interested to buy at the moment at this conditions.
     
  14. anonymous

    anonymous Guest

    The big all-consuming project which shall not be named appears to be getting a very big push. The little IP-heavy project which shall not be named and which is being used as the stalking horse for the big project may be sold off or discontinued outright as soon as the big prject gets going. Neither is worth much on the open market at the minute, and its seems untenable that they would continue both especially if they were considering a sale. It's always possible that they'd sell off any unit, but it seems unlikely that they'd just dump it all before it was worth something.
     
  15. anonymous

    anonymous Guest


    Will be sold but the Alere deal is a cluster **** and MQ now Alinity m is a shell while KMC (made the Tigris) attempts to make assay and software integration work. A CE mark in 2017 is a joke and customers know it. The only piece with value there are the FISH products because of the margin.