Downsizing

Discussion in 'Lundbeck' started by anonymous, Aug 18, 2015 at 10:34 PM.

Tags: Add Tags
  1. anonymous

    anonymous Guest

    Heard from a pretty good source that it is definitely coming. I'd hate to see good people caught off guard. I just got out and right on time it seems. Stay prepared folks!
     

  2. anonymous

    anonymous Guest

    Alpha? Beta? The new Gamma? This year? Next year? 5 years from now? Who's going and when?
     
  3. anonymous

    anonymous Guest

    I said it when they announced Gamma role... The larger footprints would eliminate many Beta territories if they wanted to downsize Beta field force. Doesn't feel good.
     
  4. anonymous

    anonymous Guest

    Read the Q2 report, available today. Here is a snippet.
    August 19, 2015
    Major restructuring to regain profitability and ensure value creation

    Valby, Denmark, 2015-08-19 07:42 CEST (GLOBE NEWSWIRE) --

    • Lundbeck is initiating a restructuring programme which will reduce the total cost base by approximately DKK 3 billion with full effect in 2017
    • Lundbeck will restructure headquarter functions and commercial operations in Europe and other markets which are expected to lead to a reduction of around 1,000 employees
    • In connection with the restructuring programme provisions and write-downs at the level of DKK 1.7 billion will be made in the third quarter 2015
    • As part of the restructuring programme a reclassification of DKK 4.8 billion is included as research and development costs in the second quarter 2015. The reclassification is a change in accounting estimate based on management's reassessment of certain previously capitalized product rights
    • Financial guidance for 2015 is revised. Lundbeck now expects revenue around DKK 14.0 billion and core EBIT to be around DKK 0.5 billion. Reported EBIT is expected to be negative at around DKK 7.0 billion
     
  5. anonymous

    anonymous Guest

    press release says European and other countries. We would be the the other countries... Interesting PA sent out email to try to quiet the storm. FYI a 1000 person layoff is quite significant when we only have 6000 employees worldwide.
     
  6. anonymous

    anonymous Guest

    Unfortunately I listened to the webcast - same old bullshit from A G - when the hell are they going to retire some of senior management and get someone in that moves with the times.
    Killing most of the early stage work and hanging all the hopes on an Altz drug which will not be first in class given Eli Lillys new plaque modifying drug - Despite the job losses (which are needed) I dont see anything new on the horizon - and there needs to be new ideas and change. Abilify will be under competition from the 3 monthly IM drug from J andJ, and seriously hardly any psych specialists believe the cognition story for Brintellix…Sigh
     
  7. anonymous

    anonymous Guest

    Hear that many of the cuts will be on the Neuro side for now
     
  8. anonymous

    anonymous Guest

    We need a decent R&D group or better business development.
     
  9. anonymous

    anonymous Guest

    Just look at the pitiful pipeline. We have no pipeline. This is definitely not a good sign going forward. Everyone I spoke with today is VERY nervous. Now we are going to a "launch meeting" with psychotic Otsuka trainers, to be browbeat with non-stop role playing for 4 damn days! That will definitely boost morale!

    Folks, I think that we can no longer view Lundbeck as a long term play. I think it's time to start looking. Man, I was so excited to come here.
     
  10. anonymous

    anonymous Guest

    Paramus gone diddy do done gone comma comma
     
  11. anonymous

    anonymous Guest

    Glad to have not made it past the phone screen interview. Blessing in disguise for me. Hope the hit here is minimal. Good luck to all
     
  12. anonymous

    anonymous Guest

    these cuts have nothing to do with anybody related to sales in the U.S. and in reality it sounds like they would love to drastically increase the size of our sales force in the future. I'm not sure what the future of Lundbeck in the U.S. will look like in the next couple of years or that I want to a part of this expansion either. The new CEO comes from big Pharma and it sounds to me like he would love to turn us into a big Pharma company too.
     
  13. anonymous

    anonymous Guest

    We are already big pharma. Everyone is doubtful that we will escape a rep reduction in 2016.
     
  14. anonymous

    anonymous Guest

    There won't be a reduction.
     
  15. anonymous

    anonymous Guest

    You are delusional
     
  16. anonymous

    anonymous Guest

    This company may mimick some big pharma behavior but make no mistake, it is not big pharma. The giants keep moving forward despite their missteps. Lots of momentum behind them.
     
  17. anonymous

    anonymous Guest

    so maybe gersel is on his way out- he cashed out 600k of shares on thursday! Strange if he was sticking around....source corporate website release on shares
     
  18. anonymous

    anonymous Guest

    I think this is just the beginning along with a whole new ragime in the U.S. and Globally soon.

    You do not announce that you are changing directions without a team in mind to implement that change.
     
  19. anonymous

    anonymous Guest

    As long as we dont get another wannabe manager from HQ with no mgt/us experience....word on the street is more news coming 31/08 stay tuned folks.
     
  20. anonymous

    anonymous Guest

    Can anyone from HQ illuminate what is going on backstage?