CEO Brennan to largest shareholders - F U

[Anonymous]

Brennan digs in his heels and gives the finger to the largest shareholders. Wow what a fantastic team of * leaders * we have at the top guiding us through these troubled waters that they created. This is what we do at AZ, we identify and promote * leaders *.

Ref: http://www.firstwordpharma.com/node/973667

AstraZeneca CEO backs strategy following shareholder demands for change
(Ref: Bloomberg)
April 13th, 2012
By: Matthew Dennis

AstraZeneca CEO David Brennan said his position at the company remains stable despite suggestions that some shareholders are looking for a change at the drugmaker, Bloomberg reported Friday. "I’m plugged in, my role hasn’t changed a bit," Brennan remarked.

A recent report in The Financial Times said that some of the company's largest investors are lobbying to replace Brennan and other members of the board and executive team in an effort to alter the drugmaker's business strategy. "I read and hear and see lots of things, but we’re here trying to change policy, make good decisions and execute our strategy." Brennan commented.

AstraZeneca is trying to replace revenue lost when patent protection on Nexium and Seroquel expire over the next four years. However, analysts and investors have questioned whether Brennan’s stated plan to pursue smaller deals and avoid large mergers will be enough to turn around the drugmaker. "If it’s about restructuring, we can do that without a big deal. Maybe somebody sees something different, but spending more money does not have a linear increase in the number of returns you get from a research and development perspective," the CEO remarked.

 

[Anonymous]

But drastically cutting R&D over a decade has had a really predictable trajectory down to zero, the idiot!!!

 

[Anonymous]

But drastically cutting R&D over a decade has had a really predictable trajectory down to zero, the idiot!!!

Thought this was worth bringing back.... have to laugh. I re-read Brennan's messaged to share holders about this being a tough time for the industry.... generic errosion etc.


How about this when I don't make my Brilinta or Crestor #'s I will verbatim state his excuse and I will say that I will save the company $$$ by restructuring and getting rid of all hospital, ASD and DSM positions.

 

[Anonymous]

I think the problem is at all big pharma where the executives are greedy morons with no real clue how to run research or even marketing organizations. All they know how to do is line their own pockets and those of their cronies. Pipelines, R&D, minimizing risk, making customer-focused decisions, all have gone out the window. These guys/gals at the top will do whatever it takes to buy their third vacation home including throw as many lower level employees out as possible or move everything to contract. Anyone that does not agree with them, will be labeled an outlier and be gone. This leaves little room for creative ways to salvage what were once great American companies. Think about this: we have a structure where there are probably four or five managers plus analytics to manage every 15 field employees. OMG, what a joke. This pretty much sounds just like big government. Mark my words, America is going down the toilet at a frightening pace. In ten more years, we will be no better than any third world country and all these wealthy executives will have moved to some island to retire.

 

[Anonymous]

I think the problem is at all big pharma where the executives are greedy morons with no real clue how to run research or even marketing organizations. All they know how to do is line their own pockets and those of their cronies. Pipelines, R&D, minimizing risk, making customer-focused decisions, all have gone out the window. These guys/gals at the top will do whatever it takes to buy their third vacation home including throw as many lower level employees out as possible or move everything to contract. Anyone that does not agree with them, will be labeled an outlier and be gone. This leaves little room for creative ways to salvage what were once great American companies. Think about this: we have a structure where there are probably four or five managers plus analytics to manage every 15 field employees. OMG, what a joke. This pretty much sounds just like big government. Mark my words, America is going down the toilet at a frightening pace. In ten more years, we will be no better than any third world country and all these wealthy executives will have moved to some island to retire.

Geeez....quit your bitching. Businesses evolve. Pharma is evolving like every other business. The day of the sales rep is over. Companies are looking for other, less costly ways to "sell." You and I both know the typical AZ rep is not worth what we are paid. It's a matter of time until we are all gone. As to DB...he started out as one of us. He took promotions and risk and was compensated for it. Now he is leaving and getting a nice "payday." Good for him!!!! America has many problems. Of course we all know that. However America will survive. The questions begs? Will you? Will you adapt to this changing economy? What are you going to do when this gig ends? Tough questions I know. I got out in 2009. Was scared shitless. Now I'm happy to go to work each day. I own my own business and I work my tail off. This was my choice as I didn't want another 25 year old DM nazi. My challenge to you my friend is quit your complaining.....the world isn't going to end...and get on with your life. It won't be easy but the answer is out there. Go look for it.

 

[Anonymous]

When the middle class dry up, so will everything else including the ability to pay top executive salaries and big government. Infrastructures both private and public will collapse. There will be no attraction to running an American company and talent will move overseas. (It already is.) Corruption will get worse. The housing market/real estate market will die (foreclosures are expected to increase next year) along with many other staples of American wealth and status. There will be no money for social programs, for the arts or music (this is happening right now). Americans will get fatter and even more unhealthy. Crime will increase. Under the weight of so much social unrest and economic oppression, our economy will collapse and along with it perhaps homeland security.

And, it all started with paying big money to executives, to government officials and having little respect or pride in the everyday worker and her product. We will look a lot like Cuba only bigger and no one, no other country, will be there to "bail" us out. This was what Bin Ladin wanted to see happen all along - to ruin us economically with the burden of a middle east war. However, the war on terrorism isn't really overseas and never was. It is right here. It is an economic war. We are being misled/distracted because we are in a class war. I know our government would have you believe that the hundreds of billions spent overseas to protect and defend are paramount. The real terror is the elite robbing the middle class blind. The government just like all these executives increases in size or gives themselves HUGE raises because they make everyone believe in their importance. Things could not run without them. This is just not so. But you probably believe they need more money to make things better for us: the little guy. This is the great lie.

What happens when we have nothing to sell and no one is buying from us, or our product is so bad that no one wants it? Who was it decades ago that made these products great? Was it an executive, a government offical or was it the American working class? Remember history, how companies that were failing were turned around. It was by executives saying they will only accept pay for true performance. They implemented programs and procedures to encourage innovation in their workforce, accountability, ownership and a sense of pride. They rewarded people fairly and developed an atmosphere of trust and respect not with fear and threats but with transparency, compensation and freedom. They supported life-long learning. Imagine how different many AZ employees would feel if the sales force was told they could conduct their business how they see fit (within compliance), management would no longer harangue us, we would be given extra stock (real stock) or a portion of the share bonus for true increases in MS or dollars.

There are very few Bill Gates of the world and innovation in America is nearly dead. Look at the only growing industries: healthcare (as we get older/sicker), accounting (bean counters to keep track of the massive fall), IT (not innovation but management and programming/data manipulators), and legal. Yet, most of the U.S. economy used to be supported by small and medium size businesses making products. Now, it is all big service business and they are mostly failing or struggling - let's not forget all the bailouts.

It is the classic case of the Emperor having no clothes. Mostly at the top, it is a bunch of blowhards who are skilled at saying whatever their constituents want to hear so they can get another million dollar bonus that year. No one thinks long term. No one cares about what kind of world they will leave or legacy. No one cares about the product anymore.

The elite are a guarded class. Their offspring will always be privileged. Soon, there will be no backs to climb on to prop up this kind of oligarchial structure. Failure is imminent. You cannot buy success. You have to earn it. But I guess it all depends on what someone decides is a measure of success. Wake-up! Our ladder is on the wrong wall. We are rewarding single individuals and not groups of people or systems. Six Sigma is not going to fix this. LOL

Brennan is both right and wrong. Few M/A have resulted in salvaging dying companies. All they do is put more people out of work while falsing propping up a stock price unless the purchased entity really does have something innovative. Sadly, with no pipeline, many of us will all be out of work anyway in less than five years, but people like Brennan will get another million dollar gig. I can promise you, he does not give a shit. He's probably mapping out his next trip to Belize or thinking of running for office.

 

[Anonymous]

Geeez....quit your bitching. Businesses evolve. Pharma is evolving like every other business. The day of the sales rep is over. Companies are looking for other, less costly ways to "sell." You and I both know the typical AZ rep is not worth what we are paid. It's a matter of time until we are all gone. As to DB...he started out as one of us. He took promotions and risk and was compensated for it. Now he is leaving and getting a nice "payday." Good for him!!!! America has many problems. Of course we all know that. However America will survive. The questions begs? Will you? Will you adapt to this changing economy? What are you going to do when this gig ends? Tough questions I know. I got out in 2009. Was scared shitless. Now I'm happy to go to work each day. I own my own business and I work my tail off. This was my choice as I didn't want another 25 year old DM nazi. My challenge to you my friend is quit your complaining.....the world isn't going to end...and get on with your life. It won't be easy but the answer is out there. Go look for it.

Dude. I am working on it but am old and have had my share of epic failures including my own business ventures as well as medical problems. Be thankful you are young enough and healthy enough to do it. I agree it is only a matter of time before we are gone. But I disagree with you that America will survive. It will not and it is not. Well, at least for most of us. The wealthy will survive and that is it. The rest of us will be killing each other in the streets for the crumbs thrown to us. Also, I am not knocking people working their way up. The problem is the compensation at that level promotes unrest, corruption, resentment and greed with no real accountability.

 

[Anonymous]

Geeez....quit your bitching. Businesses evolve. Pharma is evolving like every other business. The day of the sales rep is over. Companies are looking for other, less costly ways to "sell." You and I both know the typical AZ rep is not worth what we are paid. It's a matter of time until we are all gone. As to DB...he started out as one of us. He took promotions and risk and was compensated for it. Now he is leaving and getting a nice "payday." Good for him!!!! America has many problems. Of course we all know that. However America will survive. The questions begs? Will you? Will you adapt to this changing economy? What are you going to do when this gig ends? Tough questions I know. I got out in 2009. Was scared shitless. Now I'm happy to go to work each day. I own my own business and I work my tail off. This was my choice as I didn't want another 25 year old DM nazi. My challenge to you my friend is quit your complaining.....the world isn't going to end...and get on with your life. It won't be easy but the answer is out there. Go look for it.

Risk???? Was any of his own money ever at stake in a real sense? No. It's easy to play with other people's money.

 

[Anonymous]

ANSWER TO #6 ABOVE:


I certainly agree with your opinion that America is struggling with the problem of class warfare, and that far too much of our fortune is needlessly flowing to the top 1-2 percent, and that the economy to be healthy must benefit primarily the middle class. We already know that the middle class, when at its' best, supports the economy....not the rich, not big industry.
However, I can not agree that America is on a direct course to oblivian. I still have faith in the American people to eventually understand what is most important to our survival and continued world leadership. Right now America is confused with what is really important to regain our footing in the world. We cannot be fooled by those who pretend to lead with their stress on emotional issues rather than issues of economic and social importance. Much of America is more influenced by religious and right wing elements that stress God, abortion, guns, lower taxation, and gay marriage than what is really important. Because of this fixation that has captured much of America, the people behind the previous movements are that fabled 1-2 that are staging an economic coup into a virtual serfdom and controlling and castrating the middle classes. Right wing desires are stifeling America's educational systems, her world competitiveness and her freedoms....the very same personal and constiutionally awarded freedoms that built this country.
No other westernized country in the world lacks a nationalized medical system, no other country in the world allows their colleges to charge what is routinely charged in America. I other countries the best students are supported by the governments, not charged for college or the proper tech schools....yet few advanced foreign cultures display virtually little to no interest in the issues that I have outlined and haunt our politics, another reason we are in need of a democratic fix.
It is time for a re-evaluation of what is real in America, and what we are being sold by the "ruling class." What is real and what is not. We must soon find out if we are to prosper and regain our proper footing.