Time to be afraid, very afraid - MASSIVE Layoff Coming

And sooner than expected. Complete sales teams will be gone (looking at you CV and Hospital), massive reductions to AMs and the home office. Whether you want a package on the way out or not, start looking now.

 

I cannot wait until my decision to leave this company (and the specialty division) is validated. Logic tells me that this place is going up in flames. Benicar is done, Savaysa is a dog, Effient is irrelevant, and succeeding in pain management now is like trying to meet the wizard of oz. Good luck to everyone. I hope you all have interviews in your pipeline. If you don't, good luck finding the emerald city.

 

Thank you Glenn Gormley. Your failures mean our layoffs.

 

Who keeps posting this? We just hired 4 in my district ... Just started promoting Movantik in May...(sales will increase as MC coverage is finally happening) Benicar not done until Oct 2016- they can do what Abilify is doing... Branded Abilify $5 and new generic over a hundred with insurance ... They need us in offices with Benicar until the very end ..

 

I think you must be the biggest idiot on this site. Don't you realize companies lay off BEFORE they lose all the revenue NOT after. If they wait until they start losing 30% (billions of $) of their revenue they would officially go bankrupt dumbass.

 

This is absolutely true. A company "right sizes" about 6-12 months before LOE events, not after. It is more profitable to do so, especially in this case where Benicar sells itself.

But, the immediate problem is that DSI is WAY below FY sales and profit goals. So cuts have to happen very soon to save money now.

 

Hits the nail on the head. KK's big vision is to launch 5 products, but this already includes Movantik and Savaysa. So what is left after Benicar goes?

1. Savaysa - rocking FY15 sales of $10 million, perhaps it will grow to $100 million, which means only $50 million net
2. Movantik - we are AZ's CSO and paid out a huge amount of money to do so. This deal won't turn a profit for DSI for years. Even if Mo hits $500 million (which it won't), this will generate at best $100 million net for DSI
3. CL-108 - A triple generic with an awful forecast. $100 million net and that's generous
4. Ambit's AML/ONC drug, which will be a revenue rounding error, just like Zelboraf
5. Mirogabalin - the indication will be for fibro, but it doesn't launch until 2018. This may make some money, $250 million net, but in order to generate more, DSI needs aggressive LCM which it doesn't have the money for.

So KK is saying with his 2020 vision, that DSI will become a $250-300 million net company. For reference, DSI operational costs were $800 million in FY14. To make all of this work, DSI is going to be cut in half in the near future. If you say differently, you are either senior management lying to everyone or just plain crazy.

 

I am somewhat skeptical (although hoping you are right), because you aren't giving us specific dates. Also, we have PDE commitments to We Lie Lilly, and MM will self-implode due to attrition.

KK won't even be here in five years, nor will the company, in all likelihood.

 

Lilly wants to reduce Effient PDEs and gave up on it a long time ago. And remember, CV and Hospital were sized for Savaysa, which is essentially dead (Tokyo and Edison pulled the plug on all future studies or indications). This means lots and lots of cutting is ahead.

 

So when are layoffs smarty pants? Month ? Date?

 

Hi I am the dumbass... The one that has been in pharma a while and used to work for companies no longer in existence. Big pharma, mind you... I am sure the jerk above has been in pharma 2 whole years, DSI. So, once again... Why are they filling all empty positions ?i have a friend on the inside who would definitely know and warn me I was about to be cut... They work directly under who would be deciding - my friend asked if I had any referrals for open spots .... We do have a contract with AZ... Publicis would be cut first... So do you have a friend who is in the inside? My friend would be getting the paperwork ready.... I get your rationale ... . But you really have no information ......

 

I'm not the OP, but I work in finance and what it says is pretty accurate. Cuts are coming to address us being under plan for the FY and a very large layoff event is being planned in prep of Benicar's LOE. Good luck!

 

thanks to R&D

 

cuts have already been made to address olmesartan LOE. That is what happened last spring.

 

Pass me some of what you are smoking..... Dsi is about to go under. Oh and keep drinking the kool aide shit for brains

 

You mean the 5 people that were let go? Lol. Thanks for clarifying that

 

Ok so once again ... Why did my DM just hire 3 people in August? If Laying off soon why hire? To put everyone in jeopardy? Seriously ... If companies are laying off and hiring ( I am talking in high volume cities) I get it if there is no access or in Vermont, Minnesota...but why hire 10 reps for high volume area if laying off? Someone has to go in s 3 rep territory ... Why hire 2 new if one was fine? Seriously .. Let us know why Mr Finance guy ... Not being a jerk but I would think this would be lawsuit material .... Convince someone to leave their current job.. Knowing you may lay them off 2 months later?

 

This may be the dumbest post that I have ever seen on CP. Well done!

 

3 hires? Do you understand that several hundred reps have left over the past 6-9 months? Perhaps 200-300 reps? Our vacancy rate is 20-25% and growing.

 

Don't pay attention to all the doom and gloom crowd! I was hired to launch Savaysa. It was my first gig after school and I was on a team of "experienced" reps. What I found was all these tenured reps were nothing but lazy complainers, like most of the losers posting here. In just six weeks after the launch meeting I was outselling my partners 10-to-1, resulting in my leading the country in Savaysa NRx and winning Gold Cup and Platinum! My DM informed me that there will be a major layoff--but of all the tenured lazy reps. They will then be replaced by new reps modelled--that's right--after yours truly. Sales Ops and the execs were apparently so impressed by my abilities that they reworked the sales strategy around me. Looks like I'll be sipping another mai tai at my next Gold Cup while you losers are collecting unemployment!!!