I think the time is right to do the post mortem on the DSP acquisition of Sepracor, which spawned the sinking ship known as the SS Sunovion. For DSP, let's call it what it is - a disastrous attempt at expanding outside Japan. First purchasing Sepracor, with a boatload of worthless products and unwieldy corporate overhead. They then doubled-down on the acquisition strategy by trying to buy their way into oncology with Boston Biomedical, which in short order flamed out with it's stem cell based pipeline. Everything DSP has touched here in the US has turned to worthless crap, in large part because they had NO IDEA about how to operate in the US - sending their "shadow" organization to spy on the American management teams, who were themselves retreads and castoffs from other companies. The blind leading the blind. End of story. For Sepracor, a once proud organization, with, at one point in the past, an exciting future. Mismanaged by the castoff Novartian executive team, who then lined their own pockets by selling the company to DSP. The management team has been a revolving door, with retreads and castoffs from the who's who of big pharma. Pissing money away by the millions on crap products like Latuda and Aption. It could have been so different, but die is cast - this company has no future. No one will buy Sunovion. It's worthless. The End
It amazes me that someone would take the time to write something like this on CP. It may be true but a terrific waste of time.
This is perhaps one of the most epic posts ever on the Sunovion board! Painfully true and disturbing. I have long felt like DSP has treated this company like a plaything. Treating it like a shiny new toy, examining all parts of the company like a science experiment. When it stopped being interesting, the gloves came off and you know the rest. Truth hurts, but much more willing to sacrifice employees here in US than in the home country. Eye-opening.
Ok OP here. I WISH I had written that reply! Well said. Happy to take the credit though! Live long Sunovion!
Only one problem I can see in your above post. Latuda is not a crap product. In fact, it is a joy to promote and will come in around $800 million this year. That is not a "Crap Product". I agree with most of the rest of your post. Aptiom is already dead. The reps and managers are already mailing it in. I would not be surprised if the plug is pulled on that product by year end or early first Q 2015. At the very least they will cut at least half or sales and marketing on it because there is no way we can continue to spend so much money in promotion of a product that has a total average of like 60 Rx's per state over an 8 month period. All know monotherapy indication if it is even achieved will do little to bend the trend. Aptiom reps have all mostly checked out and are looking as they make up success stories to keep the train chugging along until they find another job elsewhere. They know it is a doomed and dead product. The only thing that will save us is getting another real product before the Latuda LOE. Abilify LOE will hurt Latuda and there may be some reduction in that sales force but probably no more than 20% cut. Things will get very choppy here after the first of the year. It should be interesting to watch all the people try to position themselves. This has become a who you know not what you do organization. Sad.
You are correct, Latuda is a good product with 800 million in sales, Unfortunately, it goes generic in 2017. Keep in mind that the 2 more successful Area Sales Directors left, As it was successful, there will be many companies lined up to manufacture a generic. Expect suits to be filed for patent and exclusivity dates. They have probably been filed. As is custom, DSP will probably settle by moving up the patent/exclusivity date. As with Lunesta, the sales force will be let go well before that date. With Lunesta the sales force was let go almost a year before the exclusivity date expired. Then we are left with Aptiom. Aptiom does not generate enough revenue to pay the bills. I always enjoy employees who defend companies against the most reasonable of points and againat all evidence. Your points go aganst the fact that the people with the complete info bailed (Rick Russell, all of legal, Rusty Thomas and too many others to count) DSP/Sunovion values you also as someone needs to sell the drugs up to the day when they tell you that you are done. From your post, you will probably be surprised wondering how it all happened. I would prefer to be at another company by then. with good memories of Sunovion and the relationships that I formed there. You will be warmed with the knowledge that you stuck it out to the end and no one will care.
yes, a perfectly good product, but do you have any idea of how much was spent to achieve that number? it's business 101 - DSP should be transparent with the true net margin on Latuda, and then you will see.
More than $1.5 billion. Will do $800 million this year alone. Market share around 5.5% nationally with some territories in double digits Does not go generic in 2017. We did lose 2good ASD's and yes they were replaced by 2 clueless "yes man and yes gal" clowns. At least we have the The G-man leading the charge! Maybe if he leaves they will promote our top ASD T-Ford and he will lead this brand to the promise land. God help us all! BooYah!!
According to FDA website, Latuda drug substance patent expires Jul 2, 2018. Latuda's loss of exclusivity for Bio-Polar depression is Jun 28, 2016. The LOE is the rate limiting step for generic competitors. The money clock on Latuda is ticking down pretty fast, only 2 more years of exclusivity (LOE) and 3 more years of patent protection. Pretty sad to see the drug fly up to $1 billion for a year in 2016 and then die a horrible death against generics in 2017-2018. I was hoping to stay here longer but I guess that's not going to happen... http://www.accessdata.fda.gov/scripts/cder/ob/docs/patexclnew.cfm?Appl_No=200603&Product_No=001&table1=OB_Rx
Latuda marketing eats into a large portion of the profit for the drug. The marketing seems to include magazines (all major magazines), TV and other forms. anyone with the approx cost per year?
DSP gets a kick out of seeing their name and symbol on TV. Like someone said before, it's like a plaything for them - kind of like a hobby, or entertainment, not real business. And WE are their puppets! Sha Bam!
I'm just curious - why haven't you left Sunovion yet? I haven't because I live just outside of Marlborough, big house, kids in elementary school, wife stays at home and holds down the fort. I literally can't leave, and am paralyzed by the idea of having to relocate for any new job.
