Fail

Sounds good; you're saying psych will bring in an additional 700 million USD starting in 2018?

Good to know.

 

What this means is that for every dollar sold, Lundbeck gets 20% Otsuka 80% for Abilify Maintena. Lundbeck gets 35%, Takeda gets 65% for Trintelllix and Lundbeck gets 45 % and Otsuka gets 55% for Rexulti.
You could have a billion dollar drug (which we don't) and Lundbeck's share would be 200 -450k

 

Rexulti makes the most money and the best chance at the billion dollar mark.

 

What the hell was Denmark thinking forming these worthless "alliances." Where we truly that desperate even several years ago? How can this company survive when we give most of the profits to someone else and in a highly genericized market with poor payer access.

Case and point, Lundbeck invented Trintellix in their own research labs. How the heck does Takeda take most of the profits in the US (which is the only market for this highly generic class)?

 

The lundbeck-Takeda deal was signed in 2007. That's why they take the majority of profit. Ovation was purchased in 2009 to create Lundbeck US specifically to avoid any more alliance-split deals. One of the business development guys then pushed for LUndbeck to sign the 25+ yr deal with otsuka, quit a few mos later and now works at Otsuka business development. Shady and underhanded at its best. This guy fucked us all

 

Interesting insights.

That said, HQ must have pissed all the money away made on Lexapro to require a deal with Takeda to finish development of Trintellix.

HQ had their heads buried in the sand regarding importance of US market for a long time. They still treat us with kids gloves. Now it's too little WAY too late.

The only smart thing HQ has done in past 15 years is acquire Ovation, which is now almost all gone.

 

Former CEO UW sold us all out before any of us ever existed. You can thank him for these alliances

 

Who has left HQ and Deerfield office since the news broke (or in the months prior for insiders)?

If not many, then maybe this isn't as bad as we thought.

 

The Brand manager for Idalo resigned this week. Back in early August two Medical Directors on the Neuro side and working on that drug resigned as well from what I heard. That drug is DOA. Anyone saying otherwise is misleading.

 

ALL the neuro medical directors resigned and took other jobs in late summer. The VP Med affairs also left. The CMO position is also open.

I hadn't heard about the brand manager, but with no neuro in pipeline, there will surely be more.

Shiiiiiiiiiiiiiiit...

 

SHIIIIIIIIIIIIIIIIttttttttttt for real! We have just taken a body blow and what does leadership do? Nothing

 

Sounds like it's starting to come apart. Yet, they have RBD's with just a handful of ASM's, and ASM's with incredibly small districts. Splitting off Alpha was a horrible business move. RBD's need at least 10 ASM's, and ASM's need 12 to 14 AM's. Whoever heard of a district manager with 7 or 8 reps with any pharma company. AM's might be in the same office with a Gamma rep on one day, and a Beta are few days later, and don't forget the Otsuka/Takeda people that were ALSO in there the same week! And then your ASM wants you to show the same vis aid as if they have never, ever seen if before! Then your manager wants to repeat it a few weeks later, or even sooner. Why ASM's are not assigned CALLS ON VERY HIGH VALUE OFFICES, I will never know!

A reorganization is coming. We will have one sales teams next year with what neuro products we have left (Onfi & Northera), and the psych drugs. The "Lundbeck Culture" is dead. But, we will continue to waste money on speaker programs with the same docs/nurses showing up, with the same boring speakers. The next night they are speaking for a direct competitor. Hub & Spoke webinars where the doc is so boring reading the slides, nobody pays attention, and it's another waste of money. Our "marketing", "sales", and "IT" are a wreck. We have no real pipeline. From the other posts on this thread, looks like the exodus of Deerfield has begun.

The question is, how many in field sales will begin their exodus over the next few months? Very sad. Lundbeck was great...for awhile.

 

This company has an interesting way of reducing headcount. Rather than ripping the bandage off and making needed reductions in staff, they encourage or tolerate a discouraging work environment. People then leave and management orders HR not to backfill. This creates more pressure on those that remain and accelerates the process.

That said, hundreds are getting axed within the next 12 months, except this time there will also be heavy cuts in US.

 

Neuro reps that aren't looking for a new job are crazy. Maybe they'll let the top performers stick around until Onfi LOE while they flog Northera.

 

Well in managements defense, what can they do? They have a grand total of one new compounds in clinical trials and are in crap alliances that minimize US revenue.

They are all just using Lundbeck as a stepping stone as most have titles they would never achieve elsewhere.

 

To all the doubters, don't be so discouraged by these posts.

There is some truth about likely cuts, but they wont be that extreme. More revenue will be generated in 2017 for the new products and this will further reduce the amount needed to be let go.

Alpha - Maybe 5-10 low volume territories will be combined with existing territories.

Beta - 30-40 territories reduced, mainly in urban areas where geographies are already small.

Gamma - 50 + territories reduced, with added responsibility given to Beta.

Neuro - 50 + territories reduced.

Once these adjustments are made, company will be properly sized for next several years.

The chances of Alzheimers drug being approved were very slim from the start, not a surprise.

 

Please explain where the 700+ million will come from after Xenazine residual, Sabril, and Onfi lose exclusivity (the last Onfi in 2018)? "Several years" my Ass. You think our crap psych products are up to the task.

 

Good intentions, but the poster above is naive or is pretty low in the org chart.

Many, many actions in past 2 years suggest extreme financial distress RIGHT NOW. Now add loss of a 1 billion a year peak sales pipeline asset, LOE of most valuable currently marketed assets in next 2 years, and no pipeline and what do you think happens?

Collapse.