Sell Otezla and Keep Sotyktu?

18 months in and we are selling $34millon in the U.S. for the quarter. Otezla has been selling $170million every MONTH since we sold it off in favor of Sotyktu. We are so far behind on the P&L that we now need to ramp up peak years sales to $9 billion by 2027 to break even vs Otezla revenues before LOE.

Was this the worst decision by a bunch of supposed BD and Financial experts in Pharma history?

 

Absolutely the worst decision. What surprises me is the Bozo CEO who approved this deal now has a sweet gig over at Novartis. He got rewarded for making bad decisions.

 

That was the start of the end…now we have degenerate gamblers at the helm. Double downing while the dealer keeps getting blackjack. How about DP WCE department. I think it’s clear what him and his team do. Area 51 team where bunch of incompetents finding ways and using consultants and bogus market research to “optimize” and “write new chapter” of the company. Meanwhile they’re throwing smokescreens and quick patches while the ship is sinking…wonder what the savings would be to eliminate that group and their budget on consultants. I’m glad the success of Breyanzi will fund the further unnecessary investment in car t and end up breaking even when it’s all said and done. Abecma outlook is getting worse and worse and MM gets more and more competitive. At least there’s options for patients but I think leadership is dead in water with shareholders and employees. Publicly said on earnings growth won’t be seen until close to 2030…these guys need to go back and read some HBR case studies on how to run an efficient business

 

Sell off the drug that was superior in H2H trials?

How do you explain that to Wall St?

 

A drug that comes with perception of JAK class safety issues vs an established brand with maybe minimal inferiority on efficacy in the H2H. Derms clearly don’t see that efficacy to be significantly superior when taking cost, access, and safety into their treatment decisions…I think wall St would understand when you talk real world and not controlled clinical trials

 

at the time, that was phase 2 data in a small population....the safety was a greater concern and we got very fortunate with no black box....the H2H was so marginal that we should have known derms bias towards safety first unless something is very compelling.

have you noticed Bimzelx sales? Last to market, but efficacy off the charts and dosing interval matters and listen to their details....they don't lie and they don't bash any products....they simply say, "look, about 75% of the market churns every 3 months...just give us all your failures...we are glad to take your worst and give us a shot...now they are on track to report $178 million their first quarter out....and they have 25% thrush!

we blew it and we are dead

should have kept o-shitz-la

 

You explain this by documenting marketing fucked up. They should of picked up in the focus panels that dermatology providers are extremely cautious when it comes to prescribing medications with severe side effects when given the option between medications. Any product manager or marketing manager with experience in dermatology should know this. Apparently, the ones hired by BMS are inept.

 

it wasn't a marketing decision fool, it was a McKinsey, BD and Board decision. They F'd up.

 

Suicidal ideation anyone?

 

Terrible decision. I left Celgene once Amgen puts their KPI claws in, but I am still in derm. Granted, I am now device, but I can say my old customers of 20+ years were disgusted with the attacks on their baby. It's not as if they know it didn't work real well, but it was a game changer between topicals and injections and they had grown to love that it offered them a new option with patients. Then you came along and told them they were idiots for the past 8 years. Terrible plan. You know they detest you? They detest having so many people come to their office trying to sell it under different names, but trying to sell it. Good luck to you. Derm knows who you are now.

 

not sure where the hate is greater, for Sotyktu or for BMY but it's strong

will not include on my resume