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Anonymous

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I am currently with another pharma company and am interviewing for a position here. Wanted to get honest to goodness fedback on the pros, cons etc. I'm with big pharma right now but hate it. Is the environment here any better? How's your future look?
 






Company is under the leadership of a big pharma GM, although he thinks he isn't. If you have a good manager they will filter the BS from him. Still, its run like big pharma and call numbers still matter and how you ask probes and how you close are monitored big time. The diagnostic products are fun to sell but the drugs are not. Entocort, 70% of revenue, goes away December 31, 2010. Selling Lotronex is like climbing uphill and has been for years.
The job is as safe as any pharma right now. Company has lots of cash to make deals and has a decent diagnostic pipeline. Nothing on the drug end.
Outlook: Investors want their money back but Promo doesn't want to go public. Look for another company to buy and divide Promo this year or next
 






Anonymous said:
Company is under the leadership of a big pharma GM, although he thinks he isn't. If you have a good manager they will filter the BS from him. Still, its run like big pharma and call numbers still matter and how you ask probes and how you close are monitored big time. The diagnostic products are fun to sell but the drugs are not. Entocort, 70% of revenue, goes away December 31, 2010. Selling Lotronex is like climbing uphill and has been for years.
The job is as safe as any pharma right now. Company has lots of cash to make deals and has a decent diagnostic pipeline. Nothing on the drug end.
Outlook: Investors want their money back but Promo doesn't want to go public. Look for another company to buy and divide Promo this year or next
Click to expand...

OP here. It's 2011... Dec 31, 2010 is past. According to Recruiter I'd be selling Entocort. Obviously your contract was renewed, my question is, for how long? And what about your pipeline? How is it looking?
 






Oh, sorry on the date. I met 12/31/11. The contract ends and the drug goes generic. It's also funny how the company keeps raising the price of Entocort before they let it go. This only pisses off the doctors and gives Prometheus a bad name.
Also, our celiac test (not promoted), gets switched to generic celiac tests=lost revenues. Same thing is starting to happen on the IBD side=lost revenues.
There alot of leaks going on right now. The company had a great run for a few years and has lots of cash to invest and buy things but what they're looking at are small dollars compared to what is being lost.
Hard to say what will happen with Oncology. Leadership is bad but they have a new diagnostic platform that could be good=2 years off.
You could say that the future is uncertain for Prometheus from bad luck to ObamaCare.
One thing that is certain are the upcoming layoffs Q4
 






Anonymous said:
Oh, sorry on the date. I met 12/31/11. The contract ends and the drug goes generic. It's also funny how the company keeps raising the price of Entocort before they let it go. This only pisses off the doctors and gives Prometheus a bad name.
Also, our celiac test (not promoted), gets switched to generic celiac tests=lost revenues. Same thing is starting to happen on the IBD side=lost revenues.
There alot of leaks going on right now. The company had a great run for a few years and has lots of cash to invest and buy things but what they're looking at are small dollars compared to what is being lost.
Hard to say what will happen with Oncology. Leadership is bad but they have a new diagnostic platform that could be good=2 years off.
You could say that the future is uncertain for Prometheus from bad luck to ObamaCare.
One thing that is certain are the upcoming layoffs Q4
Click to expand...

They are shopping the diagnostics side and when they sell to Labcorp or Quest everyone is gone. The company is done.
 






Anonymous said:
They are shopping the diagnostics side and when they sell to Labcorp or Quest everyone is gone. The company is done.
Click to expand...

Not so fast. IBD 7 will continue to be scavenged by generic tests so Quest or Lab Corp won't need Prometheus. Same with the celiac, 6mp and other tests. Pipeline has some biologic testing but alot of competition in that arena. Low $'s and profit. Prognostic test is goofy and not needed.
 






Anonymous said:
Oh, sorry on the date. I met 12/31/11. The contract ends and the drug goes generic. It's also funny how the company keeps raising the price of Entocort before they let it go. This only pisses off the doctors and gives Prometheus a bad name.
Also, our celiac test (not promoted), gets switched to generic celiac tests=lost revenues. Same thing is starting to happen on the IBD side=lost revenues.
There alot of leaks going on right now. The company had a great run for a few years and has lots of cash to invest and buy things but what they're looking at are small dollars compared to what is being lost.
Hard to say what will happen with Oncology. Leadership is bad but they have a new diagnostic platform that could be good=2 years off.
You could say that the future is uncertain for Prometheus from bad luck to ObamaCare.
One thing that is certain are the upcoming layoffs Q4
Click to expand...

I am looking for a change and a friend told me to look at Prometheus. Your note sounds quite depressing. It seems they have nothing going on ... they are losing most of the diagnositic products and the primary product is going generic ... it sounds like beginning of the end to me. Are they going to survive? I read somethere that their primary product Entocort accounts for 75% of total revenue for company and that compound is going away December 31 this year. How does a company replace 75% of it's revenue next year? They will need a lot of money, hundreds of millions, to buy new products and it has to happen now since it takes time to ramp up sales. Thanks for your advice.
 






Better days are behind this company. They're not going away though, they have more money then JayZ and will spend it to bring new products on board. But the big question is how do you replace 75% of revenues. Sure the other products are profitable but they are slowly being switched to generics. You may see the company get smaller towards the end of this year. Instead of 100 plus GI reps they'll go to 60. Still, the company has potential because of its relationships with potential partners and cash to burn. It may be worth the risk. Nothing is stable in pharma right now.
 






I disagree that this company is finished. Prometheus has always been a diagnostic company and they will do fine with what they have. It's easy to bring a diagnostic test to market so we can do this easily. I do agree that having over 100 reps won't be necessary once Entocort is gone. Doesn't matter to investors if there are 100 reps or 60, the money will come in
 






Bottom Line besides all the fluff about pipelines and diagnostics Yor tenure here will be short lived guaranteed. They will spin this JOB "run your territory like it's your own business We are different than typical pharma We are going public soon heres options on 2k shares vested 250 a yr 4 yrs. You will be a Promethean! (I said job because this is no career Pal!)

It's all BS spin Bro!! These people lie to your face train managers to Micro-manage reps then fire your ass when the Cuban Midget Leader RR says it's your time!!
 






Anonymous said:
Bottom Line besides all the fluff about pipelines and diagnostics Yor tenure here will be short lived guaranteed. They will spin this JOB "run your territory like it's your own business We are different than typical pharma We are going public soon heres options on 2k shares vested 250 a yr 4 yrs. You will be a Promethean! (I said job because this is no career Pal!)

It's all BS spin Bro!! These people lie to your face train managers to Micro-manage reps then fire your ass when the Cuban Midget Leader RR says it's your time!!
Click to expand...

This is probably as succinct and concise of a perfect illustration of Prometheus as I have ever seen.
 






Anonymous said:
Bottom Line besides all the fluff about pipelines and diagnostics Yor tenure here will be short lived guaranteed. They will spin this JOB "run your territory like it's your own business We are different than typical pharma We are going public soon heres options on 2k shares vested 250 a yr 4 yrs. You will be a Promethean! (I said job because this is no career Pal!)

It's all BS spin Bro!! These people lie to your face train managers to Micro-manage reps then fire your ass when the Cuban Midget Leader RR says it's your time!!
Click to expand...

You said, "Cuban Midget Leader" HAHAHAHA!
 






Anonymous said:
Bottom Line besides all the fluff about pipelines and diagnostics Yor tenure here will be short lived guaranteed. They will spin this JOB "run your territory like it's your own business We are different than typical pharma We are going public soon heres options on 2k shares vested 250 a yr 4 yrs. You will be a Promethean! (I said job because this is no career Pal!)

It's all BS spin Bro!! These people lie to your face train managers to Micro-manage reps then fire your ass when the Cuban Midget Leader RR says it's your time!!
Click to expand...

RR is the biggest asshole he hates eveyone. He is a small man with a small mind.
 


















Anonymous said:
Sounds like a pretty awful place to work for. Looks like a company run by bad management and is reaching end of the road. No thank you.
Click to expand...

Worse than you can imagine. Managers are condescending assholes that try and control your every breathing moment at work. Upper management is even worse. They treat you like you are less important to them than an ant. Not good...
 






Thanks for the lively discussion. I, too, have been looking into Prometheus. Most of the posts do not surprise me. Big pharma, little pharma-it's all a business and you are only valuable as long as THEY "need" you. We are all dispensable! Prometheus does not have the market on this!!!! So, is this guy really Cuban? Like really from the island of Cuba?
From the post it sounds that he runs the Prometheus ship like Castro runs Cuba! Is he really that short????
 






Anonymous said:
Thanks for the lively discussion. I, too, have been looking into Prometheus. Most of the posts do not surprise me. Big pharma, little pharma-it's all a business and you are only valuable as long as THEY "need" you. We are all dispensable! Prometheus does not have the market on this!!!! So, is this guy really Cuban? Like really from the island of Cuba?
From the post it sounds that he runs the Prometheus ship like Castro runs Cuba! Is he really that short????
Click to expand...

Don't make the same mistake I made. I joined company 2.5 years ago and was promised this and that. I was told company would go IPO in months. I was told a lot of things and I was promised a lot of things would happen soon. Now 2.5 years later, nothing really has happened. There is no chance for an IPO for a long time. I heard rumors that company may be bought or taken over. I don't believe anything any more. I am moving on because I don't see any future in company. I have been lied to repeatedly by the same few individuals mentioned in many of these posts.
 






Anonymous said:
Don't make the same mistake I made. I joined company 2.5 years ago and was promised this and that. I was told company would go IPO in months. I was told a lot of things and I was promised a lot of things would happen soon. Now 2.5 years later, nothing really has happened. There is no chance for an IPO for a long time. I heard rumors that company may be bought or taken over. I don't believe anything any more. I am moving on because I don't see any future in company. I have been lied to repeatedly by the same few individuals mentioned in many of these posts.
Click to expand...

Yes, Prometheus will bought out, maybe this year but not likely. More to come on this..... True they will lie to you as they lied to us when they layed off 1/4 of the sales force back in 09.
 






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