Best wishes to all my Lundbeck family. This time next year will look a lot different and I presume there will be a lot less of us. I know for one, I will not be here. Stay safe out there.
WHy because if layoffs or new job. I am assuming layoffs!!! It is all over for the unknown solder!! Sad songs say so much....
Good luck to you. A lot of changes are coming in 2017, but, a lot will remain the same, i.e. unyielding pressure to do programs that have very little to no ROI. Useless meetings with our partners to discuss the same thing, about the same customers, over and over. Expensive meetings like the one in Dallas, the kind most pharmas now shun (nobody has week long meetings except for the crazies like Otsuka/Takeda!) Talking about the same old data, and "patient profiles" that cause docs to laugh at under their breath. I don't know what's coming, but big changes will happen in 2017. The question is, how many people will recognize what's happening early enough to be prepared?
Not sure if you have friends who work in pharma but I have many and they all have meetings like we do! Specially and primary care reps, they all have meetings.
With generic Xenazine eating into the brand name business more and more in 2017, as well as Sabril, do we really need to spend money and time out of the field for a meeting that we will get absolutely nothing out of? Is it a good business decision in light of what's going on? With virtually nothing in the pipeline, wouldn't it be smart to save money when you can? The meeting is not necessary, and everyone knows it. Many posts on CP predict major changes for Lundbeck in 2017. They can't be good for us.
Marge needs to have all these points on her account to go on a paid for inclusive trip for all the points she gets when she arranges these meetings. Ask her about her amazing trips around the world.....
Anyone that reads this board knows that 2017 will be a major bloodbath. It's not just that us meeting goals depends on generics not eating into the neuro products. It's that, coupled with: 1. Psych products with limited upside due to alliance deals and "me too" characteristics. 2. Barren pipeline. 3. Looming Onfi LOE.
Points on everything including all our airfare go to finance/HR! Found that out during our last SmAc meeting in Chicago. They use them for all these home office raffles and giveaways at the holiday party. Margret doesn't get them or have anything to do with that. This is all CFO choice
No they don't moron, I always get my airline points since the Airlines don't allow a third party to retain your points. The hotels are a different story since oftentimes it's prepaid so you would only get points for incidentals and not for the nightly rate. You just have to make sure you include your reward number when booking through Corp Travel. Also, Margaret hardly even travels any more since her responsibilities have changed over the past couple of years, sorry to burst your bubble
Couldn't agree more! Looks like we are traveling down the same road as we did in 2016. Everyone I have talked with is expecting a reorg of some type. Should be interesting.
Completely agree. With Sabril gone, onfi soon after and Carnexiv off the table, where does neuro go from here? Definite reorg coming on this side very soon.
Completely agree. With Sabril gone, onfi soon after and Carnexiv off the table, where does neuro go from here? Definite reorg coming on this side very soon.
I have no idea how we are going to generate sufficient revenue moving forward. This is how companies die. LOE of major brands, plus no pipeline.
It depends on what their analytics say regarding sensitivity of Onfi sales to in person promotion. The conservative approach is to axe half of the neuro sales team (and relevant home office staff) and have the rest sell Onfi/Northera for 2017. In mid-2018 most of the rest get let go and it becomes one, mostly psych team. If the company is super hurting on overall profit margin, Onfi will be left to "sell itself" and shrinkage to one team will occur this year.
The problem is that the psych side only retains 33-45% of the dollars. Neuro pays the bills. Even if both sales forces come under 1 manager, there would still have to be a reduction in reps on the neuro side to save any money. What would be left couldn't limp along very long as psych is not turning out as profitable as once hoped. And besides, we still don't need 3 sales forces on the psych side.
When the new CEO took over a decision was made to base the company's future on the equivalent of a 65 yard field goal. Idalopirdine needed to get approved AND Trintellix needed a cognition claim in label AND the psych products had to start doing much better. None of those three things happened; thus I don't know what will happen once the last few Ovation assets go generic.
Right now unless LU international is sitting on a big pile of cash to repatriate to the USA and acquire a small startup company... (it may have the cash reserve since it paid a few billion off this year in debt early) we might have a rabbit in the hat. The reality is corporate will never tell the truth about our viability except for now. They will not start a fire drill and come clean with reality. Just put the blinders on and call on your customers. They will take advantage of today, pay you and smile and say everything is great. The reality is they are just con men and women. Seen the acts over the last 10 years. Our CEO is nothing more than a bean counter and paid to make changes to the organization. Nobody would date question his logic or motivations. His performance is about metrics that have nothing to do with the people on the street. If he needs to look good he will send you to the slaughterhouse tomorrow. When the bottom line can't be met, don't think he will lose a minute of sleep to tell the USA where its his "we need 50% more from USA" demands a shallow commitment to the people who made it happen. Wait till we see our "budgets" that really don't exist this year. I bet by summer we are out of money and then wonder.... how are we going to get the numbers? From the neuro side if you don't have budget money these drugs are not selling themselves. Managers will have "positive spin" meetings on how to deliver bad news in an optimistic spin.
Onfi might sell itself. Nothing else will. I wonder if most people realize that Xenazine, Sabril, and Onfi are what have kept this company alive in recent years? Well folks, 2 of those 3 are gone, and Onfi has less than 2 years left.
