CV Layoffs Q4

Discussion in 'Amgen' started by anonymous, Aug 19, 2016 at 7:10 AM.

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  1. anonymous

    anonymous Guest

    Business rules finalized. Overlays gone. Territories increase in size significantly.
    Severance will be small as most of CV salesforce have less than 2 yrs w company.
    Communication to begin mid November w expected transition dates mid December.
    This is all fact.
     

  2. anonymous

    anonymous Guest


    yep
     
  3. anonymous

    anonymous Guest

    What about GM Inventiv? Are they ending the contract or will they cover as overlay now?
     
  4. anonymous

    anonymous Guest

    this is based on the interim data readings from the outcomes trial showing a trend where outcomes did not come to be as clinically meaningful as expected. Management management is getting ready to preserve margins and will communicate that layoffs are part of efficiency optimization a even though that's not the true reason. They don't want wall street to be concerned and are spinning it off in that manner. They will likely be pressured to acquire something substantial before the outcomes data to give some optimism for growth while the integration of the acquired company will buy them time if their reported numbers are not as strong as Wall Street analyst expect.

    Sorry to the reps on repatha as they are paying the price for Amgens mistakes like the green team for prolia. Some in management knew this would be the result but since Sanofi went all in and if Amgen did not match them and sales were behind, then management would get the blame. They did this to protect themselves even though they knew most of you would be out of a job unless the outcomes hit it out of the park, which would call for an expansion in the field force. Sadly that is not the case.
     
  5. anonymous

    anonymous Guest

    So pissed. Left a good company and a great DM to sell "the greatest cv drug" ever. Such BS. Can't wait to get out of here.
     
  6. anonymous

    anonymous Guest

    Me too. I had a good gig, not perfect but very good. Was sold on the "greatest ride" and thought the launch would be full of huge bonuses. It's been anything but that. If I knew what I knew now, I wouldn't have left my old job, even if they paid me 50k in salary. In all my 20+ years in industry, this has been the worst.
     
  7. anonymous

    anonymous Guest

    Elimination of the overlay position and right sizing this broken ship is outstanding news. What would be even better news is seeing VB as the first person out. I am not buying this news though because they are still filling positions. Hiring freeze would make sense
     
  8. anonymous

    anonymous Guest

    This company is ruthless. I was involved in the last layoff a few years back. Don't think it can't happen to you.
     
  9. anonymous

    anonymous Guest

    I won't argue that the launch of R has been less than optimal and there are many things that could have been done differently, but initial post is false.
     
  10. anonymous

    anonymous Guest

    Praluent trolls
     
  11. anonymous

    anonymous Guest

     
  12. anonymous

    anonymous Guest

    That doesn't mean anything. Amgen's last downsizing laid employees off after they were hired 5 months previous. The turnover and shuffling of positions doesn't allow any momentum or growth. Short sightedness is so extreme that profits are dramatically cut due to constant retraining and reinventing of the wheel. Why would a company recalibrate prior to year end? Why would a biotech company not aggressively contract with Payors? Why would there be so many layers of management which causes blindness to the realities of the current healthcare state? Mismanaged and top heavy with constant restructuring means loss of profits. Zero long term commitment. Therefore your employees will have zero loyalty to you Amgen.
     
  13. anonymous

    anonymous Guest

    again these drugs DO NOT reduce inflammation CRP...thus POOR outcomes...thus kicked off MC...
     
  14. anonymous

    anonymous Guest

    Amgen had subsidiary Onyx Pharmaceuticals onboarding new employees the day they announced that they were shutting down the SSF site. Amgen has a history of hiring people and then firing and laying them off months after. Most respectable companies would hold a hiring freeze but not Amgen. In Amgen's quest for short term shareholder maximization, they don't give clue to layoffs so the current employees stay productive as possible. Most people would consider it an morally unethical practice, but it get's a pass because it's legal and under the guise of providing shareholder value. The humanistic employee considerations are not considered.
     
  15. anonymous

    anonymous Guest


    I went to another company interview and the hiring manager said he had 80% from Amgen and asked what is going on over there?
     
  16. anonymous

    anonymous Guest

    The biggest lie and worst launch ever!
     
  17. anonymous

    anonymous Guest

     
  18. anonymous

    anonymous Guest

    Really? Repatha not meeting end points?
    I wouldn't be shocked if that was the case but it sounds like your opinion and not based on any facts at this point.
     
  19. anonymous

    anonymous Guest

    Time will tell
     
  20. anonymous

    anonymous Guest

    You are an idiot. The results of repatha are no binary. Repatha may have a CV benefit. The question is whether how much benefit will it have. Is 5% or 30% reduction in CV events? Is it for all patients or only certain types? All we know now is repatha has no access due to its cost. So if Amgen wants to charge 14k a patient, how much benefit does it need to show? Are the results for all patients or only a small subset.

    Too many pcp reps at Amgen who aren't sophisticated to under complex data. Another reason why even with access this launched is doomed.