80,000 Novartis Paychecks $$$

Discussion in 'Novartis' started by ADP, Mar 27, 2016 at 7:06 PM.

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  1. anonymous

    anonymous Guest

    how many old Novartis reps have been contacted by the investigator calling about programs. Diovan/lotrel days
     

  2. anonymous

    anonymous Guest

    this is what happens when you mistreat your employees. They have zero loyalty to the company and they have a vendetta. Usually due to a bad first line manager making someone's life miserable! Sad......Novartis has good intentions.
     
  3. Novartis Chief Executive Joe Jimenez said on Thursday bribery allegations against the drugmaker were legacy issues and it had set aside enough money to cover any penalties.

    Novartis is fighting a widening lawsuit by U.S. prosecutors who allege its sales force ran a decade-long doctor kickback scheme involving sham events that led to overcharging the federal government

    BUNCH OF BALONEY SAME STUFF HAPPENING TODAY
     
  4. anonymous

    anonymous Guest

    they will do and say anything to protect their privilege.
     
  5. anonymous

    anonymous Guest

    Jimenez, who joined Novartis in 2007 and was named CEO in 2010, said Novartis had set aside enough money to cover its legal obligations should it face penalties. "In terms of provisions, we are absolutely adequately provided for," he said.

    As of the end of 2015 the company had set aside nearly $1.2 billion for product liability, governmental investigations and other legal matters, compared to $849 million in the year earlier, according to its annual report.
     
  6. anonymous

    anonymous Guest

    short by at least $1.8bn
     
  7. anonymous

    anonymous Guest

    80,000 programs to educate the same doctors on the same old drugs? For real? 80,000? WTF? Did the doctors forget the first 79,000 x ????????????? :confused::eek::rolleyes:o_O
     
  8. anonymous

    anonymous Guest

    Not at all.
    There are always going to be required and ongoing "updates" !!!!
    HAHAAAAAA
     
  9. anonymous

    anonymous Guest

    True they did change the packaging a few times with prettier shades of color :D
     
  10. anonymous

    anonymous Guest

    Novartis is discussing options with banks for selling its near $14 billion stake in rival Roche, potentially providing cash for new deals (& lawsuits).

    “Novartis is in a time of need, having had setbacks with both Alcon and Entresto, and investor sentiment is languishing,”
     
  11. anonymous

    anonymous Guest

    Novartis puts $14B Roche stake up for sale

    by Tracy Staton |
    Apr 25, 2016 8:45am

    "The big question isn’t to whom Novartis might sell its chunk of shares, but what it might do with the proceeds"

    How about ......uhhhhhhhhhh....pay govt fines for the crooked behavior
    ta-da question answered !
    xoxo
    Crooked HIllary
     
  12. anonymous

    anonymous Guest

    My kids are asking me about his one. We say step change fixes this but then marketing and RDs and very clear they want crazy number of programs done. This company is so filthy. Or riot it is ridiculous- top down but all is blamed on the reps for not getting the results they concoct because they spend so much money trying to prove themselves in their role we have to make up for senior leadership blunders. I am not doing anymore programs. I do not want my name further tied to any of this.
     
  13. anonymous

    anonymous Guest

    One of the few measures that would fundamentally address the corruption problem inherent to this company's evolution and the industry as a whole is quite simple.

    Tie management level compensation to a rate not exceeding 3x that of the lowest paid associate.

    The additional value generated could be returned back to society through lower drug prices, of course returned to shareholders through higher dividends and share repurchase programs, but most importantly reinvested back into the company. And that's without having to give up all of a sound investment income and strategic stake in Roche worth north of $10bn.

    Reasonable, well thought-through decisions will likely not be made, rather the epic knee-jerk to maintain excessive executive personal profit at everyone else's expense. And it's understandable why the upper levels don't want to give up their privileged status, because the consequence is a downward adjustment to lifestyle.

    Yet there are limits to growth, margins, productivity, and the lesson learned is to limit the desire for more, more, and more of each. Resources and labor are finite at all times.

    The integral behavior for a healthcare company like Novartis is to maintain a consistency of value creation for patients but also its own associates. Giving them unrealistic targets, make-work and other non-value adding tasks, which exacerbate physical and mental health issues, may very well be a means to attract new customers for its products a la creative destruction. However, it would be a highly unethical thing to do, even if unintentional. Surely, there is a need for a stronger human resources function that advocates for the well-being of its associates rather than another slave to the company's bottom line.
     
  14. anonymous

    anonymous Guest

    "Chief Ethics Officer Eric Cornut is leaving Novartis after 27 years, at a time when it is fighting U.S. allegations that its sales force bribed doctors to prescribe its medicines."

    hmmmmmmmmm o_O
     
  15. anonymous

    anonymous Guest

    The "Dueling Roundtables" year that had us trying to keep up with Daichi Sankyo's similar check-collection program will end up being our downfall. There's always wasteful spending on programs, but that was without a doubt the one where management was forcing us to do a certain number of programs in a short period of time. It wasn't optional and they won't be able to blame the reps for bad implementation when the program was designed as a payoff right from the start.
     
  16. anonymous

    anonymous Guest

    Sounds like an admission of guilt :oops:

    "Jimenez said Novartis had moved away from its aggressive "results-oriented" sales approach.

    "We had to shift the culture of the company in terms of a compliance standpoint," he told investors, adding he is eliminating "high-risk" speaker programs for older products that had the potential to blur the line between education and inappropriate drug promotion."
     
  17. anonymous

    anonymous Guest

    Someone should shut this whole nasty place down
     
  18. anonymous

    anonymous Guest

    No shut down.

    Just a hefty fee will be assessed against the company to continue its operations.

    More heads will roll -- Game of Thrones style...
     
  19. anonymous

    anonymous Guest

    No one "admits" quilt!!
    They just pay $$$ for the privilege.