FIRE AB

[anonymous]

I’m retired but I assume it is appraisal time. For weeks people have written self assessments. They’ve requested and given peer reviews. Managers have spent weeks writing reviews and justifying salary increases and variable bonuses. I have no idea what the C-Suite people do in the appraisal process, but imagine you are a company leader and the stock is down over 50% and trading at decade lows.

As a rep, could you survive if your RX count was down 50%
As a manager, could you justify 50% turnover?

 

[anonymous]

I’m retired but I assume it is appraisal time. For weeks people have written self assessments. They’ve requested and given peer reviews. Managers have spent weeks writing reviews and justifying salary increases and variable bonuses. I have no idea what the C-Suite people do in the appraisal process, but imagine you are a company leader and the stock is down over 50% and trading at decade lows.

As a rep, could you survive if your RX count was down 50%
As a manager, could you justify 50% turnover?

As a forecaster, could you be off by billions of dollars on the covid forecast? Or better yet, how would you be rewarded if you provided a prudent, fact based forecast that was ignored and then inflated to absurd levels to show we are bold thinkers.

 

[anonymous]

We’re number 1!!

….in price increases. The January price increases have Pfizer in the top position (meaning the largest target on us for pharma greed) for the second year in a row. Gotta make sure AB and the motley ELT get their bonus

for the mindless leaders with no plan to get us on track, you’ll never cut enough expenses or raise enough prices to get investor confidence.

 

[anonymous]

My FMD fielded one question on the synchronous site. What a big waste of time that was. They had to sit by the computer in case a question came in.

At least in the US you have new products. In international markets these products are typically approved few months/years after the US. Despite this, they hired several thousands of MD/PhD/PharmD field medical people to talk to HCPs about products approaching LoE....no medical practice had any questions on these old products and this group, to prove their value and meeting customer interaction KPIs, started "competing" with internal Pfizer groups like Sales Force, Medical Information and Customer Service. What a waste of expensive, highly qualified resources to answer basic customer questions.

 

[anonymous]

The Connect project never should have seen the light of day. It was comical when they said "this is what customers are asking for." The "leaders" that rolled out the concept, and sold it to the field as "next level sales", quickly moved into other roles. And, to have PharmD's available to answer customers questions...bahahahah. This was sold as a "Bold Move"...someone needs to admit it was a mistake and roll up the carpets on this one.

As a 27 year vet I can say that this move is typical to what goes on here. It's like we only hire the most pedantic consultants. HIRE MORE PEOPLE!!! HIRE MORE PEOPLE!! HIRE MORE PEOPLE! Add more KAMs. Hire another contract force. Add a few dozen superfluous positions like Pfizer Connect or some of these corny field based spots I've hear about over in Rare. On and on it goes.

12 senior reps (from the days before we added a bazillion field forces) could've told leadership that this was a dumb and expensive move. Now we all have to pay the price for this type of stuff as we nervously wait for the chopping block being wheeled our way in the Fall.

 

[anonymous]

At least in the US you have new products. In international markets these products are typically approved few months/years after the US. Despite this, they hired several thousands of MD/PhD/PharmD field medical people to talk to HCPs about products approaching LoE....no medical practice had any questions on these old products and this group, to prove their value and meeting customer interaction KPIs, started "competing" with internal Pfizer groups like Sales Force, Medical Information and Customer Service. What a waste of expensive, highly qualified resources to answer basic customer questions.

Case study in ineptitude.

 

[anonymous]

I wonder if AB is on the Epstein flight logs? Other Pfizer execs?

I dont know about that, but I know that in the glory days of Lipitor and Viagra, many male DMs and reps I know bragged about always taking docs to strip clubs. Whether or not they actually went, I dont know. But they sure bragged about it a lot.

 

[anonymous]

I dont know about that, but I know that in the glory days of Lipitor and Viagra, many male DMs and reps I know bragged about always taking docs to strip clubs. Whether or not they actually went, I dont know. But they sure bragged about it a lot.

Why would a Dr go to strip clubs? They see pussies all day.

 

[anonymous]

No. McKinnell is the one that got this company started down the current path. That's why he got shown the door (and a 185 million dollar severance) after a short reign.

185 Million....what a modest man to accept it!! How did the board justify such a severance...all of course at the expense of patients!

 

[anonymous]

185 Million....what a modest man to accept it!! How did the board justify such a severance...all of course at the expense of patients!

It's a long-standing con. Many Fortune 500 C-suite types sit on each others' boards. Not only is that a fat six figure bonus for attending a couple of meetings a year, but it helps insure that they take care of each others' personal financial best interests. This is how and why they all march in lock-step. Quid pro quo, baby!

"You get ME a fat severance, and I'll hook YOUR board president and you up on the back end by pushing for smilier packages for you two!"

 

[anonymous]

From MarketWatch today: PFE shares downgraded

‘Pfizer Inc. shares PFE, -1.83% were downgraded to market perform from outperform at TD Cowen on Thursday, as analysts see upcoming patent expirations and shaky confidence in the drugmaker’s management clouding the outlook. Despite a brutal 2023, when the stock dropped more than 40%, it’s “tough to pound the table even from these levels,” the analysts wrote, adding that expected strong earnings growth through 2026 will be weighed down longer term by losses of market exclusivity on key drugs like the blood thinner Eliquis and breast cancer treatment Ibrance. The analysts said their confidence in Pfizer management is “not the highest,” noting that much of the company’s recent guidance has proven overly optimistic and decisions to divest assets through Roivant Sciences Ltd. ROIV, -1.01% and Cerevel Therapeutics Holdings Inc. CERE, 0.49% look questionable given the values placed on those assets by competitors. Pfizer shares fell 0.2% premarket on Thursday and are down 40.7% over the past 12 months, while the S&P 500 SPX, -0.04% has gained 22%.’

Much of the downgrade appears to point directly at AB and other leadership bonehead decisions. Wall Street knows where the strengths are for PFE and where the weaknesses are as well. As long as AB and his ilk are allowed to blunder decisions and plunder the bonus pool, the stock will remain in the tank. If any of us “performed” as poorly as leadership, we would be dismissed posthaste. The board should do the same with NO rich payouts involved

 

[anonymous]

From MarketWatch today: PFE shares downgraded

‘Pfizer Inc. shares PFE, -1.83% were downgraded to market perform from outperform at TD Cowen on Thursday, as analysts see upcoming patent expirations and shaky confidence in the drugmaker’s management clouding the outlook. Despite a brutal 2023, when the stock dropped more than 40%, it’s “tough to pound the table even from these levels,” the analysts wrote, adding that expected strong earnings growth through 2026 will be weighed down longer term by losses of market exclusivity on key drugs like the blood thinner Eliquis and breast cancer treatment Ibrance. The analysts said their confidence in Pfizer management is “not the highest,” noting that much of the company’s recent guidance has proven overly optimistic and decisions to divest assets through Roivant Sciences Ltd. ROIV, -1.01% and Cerevel Therapeutics Holdings Inc. CERE, 0.49% look questionable given the values placed on those assets by competitors. Pfizer shares fell 0.2% premarket on Thursday and are down 40.7% over the past 12 months, while the S&P 500 SPX, -0.04% has gained 22%.’

Much of the downgrade appears to point directly at AB and other leadership bonehead decisions. Wall Street knows where the strengths are for PFE and where the weaknesses are as well. As long as AB and his ilk are allowed to blunder decisions and plunder the bonus pool, the stock will remain in the tank. If any of us “performed” as poorly as leadership, we would be dismissed posthaste. The board should do the same with NO rich payouts involved

Our stock price over the past 20 years shows exactly what The Street thinks of our leadership then, and now: flat as my grandmas favorite cast iron griddle.

 

[anonymous]

Our stock price over the past 20 years shows exactly what The Street thinks of our leadership then, and now: flat as my grandmas favorite cast iron griddle.

flat like your grandma’s ass

 

[anonymous]

From MarketWatch today: PFE shares downgraded

‘Pfizer Inc. shares PFE, -1.83% were downgraded to market perform from outperform at TD Cowen on Thursday, as analysts see upcoming patent expirations and shaky confidence in the drugmaker’s management clouding the outlook. Despite a brutal 2023, when the stock dropped more than 40%, it’s “tough to pound the table even from these levels,” the analysts wrote, adding that expected strong earnings growth through 2026 will be weighed down longer term by losses of market exclusivity on key drugs like the blood thinner Eliquis and breast cancer treatment Ibrance. The analysts said their confidence in Pfizer management is “not the highest,” noting that much of the company’s recent guidance has proven overly optimistic and decisions to divest assets through Roivant Sciences Ltd. ROIV, -1.01% and Cerevel Therapeutics Holdings Inc. CERE, 0.49% look questionable given the values placed on those assets by competitors. Pfizer shares fell 0.2% premarket on Thursday and are down 40.7% over the past 12 months, while the S&P 500 SPX, -0.04% has gained 22%.’

Much of the downgrade appears to point directly at AB and other leadership bonehead decisions. Wall Street knows where the strengths are for PFE and where the weaknesses are as well. As long as AB and his ilk are allowed to blunder decisions and plunder the bonus pool, the stock will remain in the tank. If any of us “performed” as poorly as leadership, we would be dismissed posthaste. The board should do the same with NO rich payouts involved

Pfizer is an absolute gong show right now. One bad decision after another. AB will be replaced by Q2….

 

[anonymous]

From MarketWatch today: PFE shares downgraded

‘Pfizer Inc. shares PFE, -1.83% were downgraded to market perform from outperform at TD Cowen on Thursday, as analysts see upcoming patent expirations and shaky confidence in the drugmaker’s management clouding the outlook. Despite a brutal 2023, when the stock dropped more than 40%, it’s “tough to pound the table even from these levels,” the analysts wrote, adding that expected strong earnings growth through 2026 will be weighed down longer term by losses of market exclusivity on key drugs like the blood thinner Eliquis and breast cancer treatment Ibrance. The analysts said their confidence in Pfizer management is “not the highest,” noting that much of the company’s recent guidance has proven overly optimistic and decisions to divest assets through Roivant Sciences Ltd. ROIV, -1.01% and Cerevel Therapeutics Holdings Inc. CERE, 0.49% look questionable given the values placed on those assets by competitors. Pfizer shares fell 0.2% premarket on Thursday and are down 40.7% over the past 12 months, while the S&P 500 SPX, -0.04% has gained 22%.’

Much of the downgrade appears to point directly at AB and other leadership bonehead decisions. Wall Street knows where the strengths are for PFE and where the weaknesses are as well. As long as AB and his ilk are allowed to blunder decisions and plunder the bonus pool, the stock will remain in the tank. If any of us “performed” as poorly as leadership, we would be dismissed posthaste. The board should do the same with NO rich payouts involved

PFE is a dividend play only, like a CD with downside risk. The difference is my banker makes $52K opening CDs. AB makes $23M driving PFE value down over 40%. It’s past time to clean the top and get business focused leaders in place.

 

[anonymous]

PFE is a dividend play only, like a CD with downside risk. The difference is my banker makes $52K opening CDs. AB makes $23M driving PFE value down over 40%. It’s past time to clean the top and get business focused leaders in place.

He is not our only problem. We have systemic issues here.

 

[anonymous]

He is not our only problem. We have systemic issues here.

List them please.

 

[anonymous]

He is not our only problem. We have systemic issues here.

Agree there are other issues. He, however, is the top officer of an organization that has lost over 40% of value in less than twelve month. He is accountable for myriad issues, both systemic and those accrued solely during his tenure. I don’t see the trend improving for PFE or increases in investor confidence until the board wakes up and makes well past due changes in leadership.

The primary role of the CEO, governed by the board, is to create shareholder value. Not destroy it.

 

[anonymous]

List them please.

Are you a reporter? If you worked here, you would know. Almost every organizational announcement in the past two years was met with outrage or ridicule.

 

[anonymous]

Are you a reporter? If you worked here, you would know. Almost every organizational announcement in the past two years was met with outrage or ridicule.

Used to work there. Am retired now. I understand some of the structural problems from the past. I understand under performing research division. Nothing new there. What else?