Temporarily enlarged Board of Directors?
The temporary ones are experienced in M&A process. Plus new CEO with Roche connection.
Due to ongoing layoffs in pharma and biotech expect the layoff to prepare ground for M&A.
Obvious candidate to take over is Roche. But there were such rumors in the past and stock peaked at 126 so some bmrn insiders could sell it and make a fortune. Current rumor might be more real. Roche has a trojan horse placed in the company. In any way it looks like a preparation for M&A.
Who will be a taker? Some analysts show market price at 80-85, others at around 100. No one is talking 120-130 anymore. Not good for bmrn insiders hoping to make it big, unless they have tons of stock. Portfolio and pipeline look modest.
For workforce this is uncertain time. The best have already left.
New candidates may come from CMO organizations of dubious quality
High quality managers and scientists have left. Others hang around. The replacements will be low cost, likely on working visas staying temporarily. No commitment, just to pickup some information for interviewing elsewhere.
Top management needs to be replaced, followed by incompetent middle level.
The top managers have been useless preoccupied with how to protect their positions and at the same time minimizing their responsibilities. They could not manage the parts of organization they were put in charge of.
But watch who will be coming. Roche-Genentech buddies or transition opportunists including international travelers. The CEO to be watched.
Roche ordered Genentech to work on application of AI in drug discovery. At Roche no one really understands it, but to their surprise Genentech is not up to the task after years of dependency on Roche.The made an agreement with Invidia who will be the real beneficiary by familiarizing itself with this domain.
organization is filled with incompetent management scooped from the bottom barrel of the talent pool at other companies and relies on heroics from individual contributors to carry the burden of incometent managers.
new ceo is interviewing existing vice-presidents to see who would stay and who has to go. This is under pretext to introduce himself and know them better. Considerations for external candidates are already in place.