KRYSTEXXA Worst Drug Launch Ever!

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Anonymous

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(Based on lawsuit filing from Tang Capital)

Savient has struggled mightily to sell its gout drug Krystexxa and its stock price has suffered as a result. How bad a job has Savient done in marketing Krystexxa? I'll let Tang Capital describe the company's effort. The firm's lawsuit makes for a fun read:
"On a relative basis, Krystexxa's sales performance for its first five quarters on the market ranks among the worst of any new drug launch in the history of the pharmaceutical industry. For example, in an analysis of 35 prescription drugs launched in the United States in the past three years, Krystexxa ranks dead last, with fifth-quarter sales of $3.0 million compared to a range of $3.5 million-$183.4 million for fifth-quarter sales of the other 34 drugs."
There's more on Krystexxa's performance:
"How remarkably low Savient’s revenues are is rivaled only by how remarkably high its expenses are. For the quarter ending December 31, 2011, Krystexxa's fifth quarter on the market, operating expenses were $35,612,000, which was nearly ten times its revenue of $3,710,000, resulting in an operating loss of $35,207,000.
 



Uhhhh folks......did anyone try doing due diligence?

Several major suitors Never bid for SVNT two years ago because they could NOT find your patients! Your leadership assumed a really conservative specialty would not be bothered by the safety profile..... hmmmmm.

Other folks have crunched the data to find your patients but couldn't . . . some may argue the data do not correspond to hoped for numbers suggested to Wall St. Also, time to admit the market has changed ...... severe gout w/ tophi is realy uncommon these days

At best, some of your leadership were in serious denial .....if not, the story would be even worse. Some have suggested SVNT leadership was not willing to consider alterntive market assumptions even if data suggested it was wise to do so...... unrealistic story sold to optimistic naive investors......while the company execs took home millions in comp they never would truly earn
 






Worst launch ever and Lou promotes Steve Smolinski to VP of Marketing...ha
Ha. He'll never get another job as VP on this failure as the worst launch ever is on his watch. How does he explain that? Lou will retire he doesn't care.
 



Anonymous said:
Worst launch ever and Lou promotes Steve Smolinski to VP of Marketing...ha
Ha. He'll never get another job as VP on this failure as the worst launch ever is on his watch. How does he explain that? Lou will retire he doesn't care.
Click to expand...

Smolinski, Ferrari, Patel, Redcross. THIS is our leadership team. Jeesuz H. Watching these guys in the home office is like watching kids in bumper cars for the first time. Driving as fast as they can. Running into everybody and everything and each other. Always blaming the other guy.
 






Anonymous said:
...you forgot Tim Callahan
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Good point, TC was fired by Savient back in 2008-09 now he is back in a National Sales role?? ARE you fucking shitting me? no wonder this stock has the worst track record in the industry. Just look at the employees and you will have your answers. IT all starts with personell now doesn't it? always has, always will........our sales leadership team is the fifth string not even freshman ball....great reference to the bumper cars...spot on!
 



In retrospect.... this looks like the wall street version of a Ponzi scheme.........given the facts of the market how could we have been conned into believing the company story. The patients simply aren't there, especially at the wild ass price and patient numbers required to pretend it was a billion dollar product for Wall St. .. . . . . . If only we knew what the execs really thought about the the investors (after all they got to walk with millions).
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QUOTE=Anonymous;4351998](Based on lawsuit filing from Tang Capital)

Savient has struggled mightily to sell its gout drug Krystexxa and its stock price has suffered as a result. How bad a job has Savient done in marketing Krystexxa? I'll let Tang Capital describe the company's effort. The firm's lawsuit makes for a fun read:
"On a relative basis, Krystexxa's sales performance for its first five quarters on the market ranks among the worst of any new drug launch in the history of the pharmaceutical industry. For example, in an analysis of 35 prescription drugs launched in the United States in the past three years, Krystexxa ranks dead last, with fifth-quarter sales of $3.0 million compared to a range of $3.5 million-$183.4 million for fifth-quarter sales of the other 34 drugs."
There's more on Krystexxa's performance:
"How remarkably low Savient’s revenues are is rivaled only by how remarkably high its expenses are. For the quarter ending December 31, 2011, Krystexxa's fifth quarter on the market, operating expenses were $35,612,000, which was nearly ten times its revenue of $3,710,000, resulting in an operating loss of $35,207,000.[/QUOTE]
 















Anonymous said:
Smolinski, Ferrari, Patel, Redcross. THIS is our leadership team. Jeesuz H. Watching these guys in the home office is like watching kids in bumper cars for the first time. Driving as fast as they can. Running into everybody and everything and each other. Always blaming the other guy.
Click to expand...

What is so pitiful is that they are getting paid for doing NOTHING!!
 









Which phone is Derek on? Is it the one that connects to his vast numbers of "Bros" and the seemingly endless number of headhunters that he constantly talks to. He dumbass up date your profile on Linked in you are not the VP of anything you idiot. Why are you even still hear. Some one said that they moved you to training but what the hell do you know? Quick what is the generic name of Krystexxa.....Daaa I think its call......daauiiiaaaa I don't really know. You Blindingly Stupid Idiot.
 



Anonymous said:
All you can hope for is that the leadership team lands at another company and they take you with them
Click to expand...

Are you kidding? As they interview they are going to blame all of you! They will wipe their hands of you and talk about how great they are....."if it wasn't for the poor marketing plan and the bottom rung biotech reps we thought we were hiring. We hired them in a major time crunch. Next time we need more time to make better decisions on the candidates." Beep beep beep beep....that is the bus they are backing over you. NONE OF YOU WILL BE BROUGHT OVER WITH THEM! That back pain you have is from their knife.
 



Anonymous said:
Are you kidding? As they interview they are going to blame all of you! They will wipe their hands of you and talk about how great they are....."if it wasn't for the poor marketing plan and the bottom rung biotech reps we thought we were hiring. We hired them in a major time crunch. Next time we need more time to make better decisions on the candidates." Beep beep beep beep....that is the bus they are backing over you. NONE OF YOU WILL BE BROUGHT OVER WITH THEM! That back pain you have is from their knife.
Click to expand...

I don't know who this is but dude you are a prophet. I can hear a lunkhead like Redcross explaining why he managed a complete and total failure but was not to blame. He has interviewed with Endo for the VP of speciality sales and got laughed at. He couldn't even get a job at one of those temp sales agencies for, of course, a leadership role. This guy just won't quit.
 



Anonymous said:
I don't know who this is but dude you are a prophet. I can hear a lunkhead like Redcross explaining why he managed a complete and total failure but was not to blame. He has interviewed with Endo for the VP of speciality sales and got laughed at. He couldn't even get a job at one of those temp sales agencies for, of course, a leadership role. This guy just won't quit.
Click to expand...

You know this is going to drive them crazy trying figure out who is writing this stuff on CP! This probably affects them more than their lousy sales results.
 



Absolutely true. Part of the reason this company is in the tank is LF and Dcross spend a good portion of their time refreshing CP to see when their names come up. Two dim bulbs. It's surprising these two are mortal enemies and not bestest buds. You'd think the fact that they are both so incompetent and total eff-ups would be a reason to bond?
 




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