So sad to see the decline. There are great people working at Endo but a lot of bad luck and not the best business decisions and they need new products. Good bye QWO and team. What’s next. Its just sad for the good quality people that still work there (and there are many).
Endo - sad decline
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Too much debt. Endo, sadly, is toast. I was there years and years ago when Holveck was running the show (when we were still in Chadds Ford) and wanted to replicate the J&J three stool legs model of Devices, Pharma and Diagnostics. Terrible decision as we were not even close to big and strong enough to consider that approach. That was the start of the decline. It's crazy to think I sold my shares at 45 bucks and it hit almost $90 a share at one point. Now 9 cents. I still have some stake in the company so hoping for some sort of restructuring, but I think the numbers are just too far off.
We don’t have divisions. We are One Endo. You could even say we’re an X-Team.
None, specifically. Aesthetics just wasn't going anywhere with the issues QWO had, so the capital will be redeployed elsewhere. This isn't to say that further right-sizing won't happen as we emerge from bankruptcy, but that's SOP for any business -- bankruptcy or not.
Unfortunatley, I have to agree with this post.
The real shame is that some of the dirt bags that should suffer from the demise of this company are no longer there. They did their damage and somehow managed to find other positions elsewhere, which really has me scratching my head. When I loo at some of the managers and directors that never really earned their jobs bu the had them handed to them because of the "old boys" network..
Whats funny is that no one has mentioned that anyone associated with the McKinsey Group ( Raj ) has never really had a positive impact on any of the companies that they have worked at.
I can only hope that the good people that were and are still there somehow land on their feet. I have described this company as a "Dumpster Fire " for years, back when people like MH was narmed Sales Director, this guy lived off the success of other's and had the job handed to him by his 2 cronies.
Same thing can be said for Managers like FM, I watched as he was spoon-fed answers and given direction on how to respond to questions for his interview to become an RSM. What a joke.
Fair winds and following seas to those still there but get out while you can, unless someone buys the company then you may have a chance.
Couldn’t agree more with the last post!! Look at all the posts about Ben, talk about a waste of space this minion was handed a position he could never even dream of getting on his own and look what he has done destroyed a culture for a great organization!!!
I bet we are bought out, but not by the stalking horse. They were only there to set a low bar for bids. A bigger pharma with billions likely to take us in. Only then would layoffs be a concern.
That would probably be even worse. At least if endo does layoffs they have a history of giving a severance package. I would find it less likely for a multi billion dollar company spending the money to purchase Endo’s products to feel obligated or care to do so. Obviously it’s going to happen given our leadership is running the company into the ground while simultaneously getting multi million dollar bonus. Lol
No one knows except the decision-makers at the top. But process of elimination could get you in the right zip code based on what/who hasn't been impacted in recent RIFs.
I don't think this is likely . . . at all. But if it occurred, our severance plan being honored would be part of the deal.