Mass Exodus

[anonymous]

No, not even close to true anymore about there being a robust pharma job market in Boston. It’s not 2021 anymore lol. Startups are facing major cash crunches and laying people off in droves for the past 18 months, many companies transitioning from startup phase with newly approved drugs are not seeing sales materialize, and the big players are struggling, facing big LOEs and cutting staff large numbers.

The largest Pharma employer in the area is Takeda and go look at their board, there are rumors of a large scale layoff coming soon after Vyvanse LOE hit a few months back and Entiviyo’s LOE is coming up soon. Moderna had to take a $750M cash investment from a PE firm to keep their R&D humming. Amylyx pulled their ALS drug off the the market and cut 70% of their staff last week. Novartis had cuts this week. Karuna, Immunogen and Cereval were bought out in Nov/Dec and facing cuts mow/soon. Sanofi is planning cuts. I can keep going and going

Biotech is boom or bust. Especially for reps.

 

[anonymous]

I admit, I am somewhat reluctant to hire people based in Boston, especially if they average less than three years at prior companies.

They tend to have no loyalty and job hop like crazy. Also tend to rise to their level of incompetence because all their job hops slow their learning, but accelerates their promotions. They eventually land with a thud and it takes time and effort to PIP them out of your org.

 

[anonymous]

I admit, I am somewhat reluctant to hire people based in Boston, especially if they average less than three years at prior companies.

They tend to have no loyalty and job hop like crazy. Also tend to rise to their level of incompetence because all their job hops slow their learning, but accelerates their promotions. They eventually land with a thud and it takes time and effort to PIP them out of your org.

So you think a SVP or CCO with six years and five companies under their belt is odd?

 

[anonymous]

So you think a SVP or CCO with six years and five companies under their belt is odd?

Jesus what an old boys/girls club.

just hire your friends and let them cash out I guess.

Dumpster. Fire.

 

[anonymous]

Come on ride the train!
The choo choo train!

 

[anonymous]

Do you really need to ask?

When did it start to go downhill? When a certain someone joined the upper leadership.

Since AA has been here, we have literally made the wrong decision EVERY single time! We have been through how many CEO's? We have been through how many VP's? How many in Sr. Leadership have moved on? How many talented and tenured people have left?

YET, she is still here.

I don't feel bad for this company. We have been begging them to make a change, the only consistent since the slide began. But they don't listen. Now, the shareholders (which I am one) will suffer. How many times can we hit 52 week lows before something is done? Jesus, I just dropped my Sell Order to $250 because the way things are going, I will take the hit and get whatever I can from my stock.

Let's walk away from that "Melting Iceberg" of MS and push all of our chips in on FA, that will earn dividends. SMH, sad what we have become and it was all preventable.

It's OK though, maybe she can go buy another $4000 pair of shoes and cry on stage to get everyone to feel bad for her. She will be here long after we're all gone.

This is spot on...all she does is talk about culture and moral...yet she is the one that destroyed the culture and drove moral lower then the stock price. She should have been let go years ago or at the very least when CV joined...some how continues to survive and then waste our time at meetings with bullshit stories and set bullshit sales goals.

 

[anonymous]

This is spot on...all she does is talk about culture and moral...yet she is the one that destroyed the culture and drove moral lower then the stock price. She should have been let go years ago or at the very least when CV joined...some how continues to survive and then waste our time at meetings with bullshit stories and set bullshit sales goals.

It is very very hard to fire senior leaders. Especially so if they are a minority of any kind. Even women can threaten wrongful termination lawsuits.

It takes years to get toxic leaders out, and frankly it usually doesn’t happen. They have a few key friends above them, and/or terminating them would be an embarrassment for whomever hired them.

So they stay and rot the teams they lead. They can fail upward too, though often out of the company, which is a blessing.

 

[anonymous]

Very hard to fire.

So be very wary hiring senior leaders from biogen, moderna, pfizer, catalent, amgen, etc. Toxicity by choice or as a result of incompetence is what they know and likely did.

 

[anonymous]

Very hard to fire.

So be very wary hiring senior leaders from biogen, moderna, pfizer, catalent, amgen, etc. Toxicity by choice or as a result of incompetence is what they know and likely did.

There is more diligence put into hiring a sales rep than into an executive. Some of the most inflated profiles on LinkedIn are at the executive level.

 

[anonymous]

There is more diligence put into hiring a sales rep than into an executive. Some of the most inflated profiles on LinkedIn are at the executive level.

As a low level executive I can confirm this.

I view myself as competent and impactful, but a fair number are not. It’s all about who works for you. You can take credit for anything in your department, and people outside (and sometimes inside) your company have no idea if you spent a single second on it. Anything “good” becomes your idea and anything “bad” was someone else’s fault.

Time passes and the titles build up. Especially the job hoppers who are out the door as soon as the RSU’s vest. They hop and get a salary and title bump absolutely regardless of their performance at their past company. It’s especially easy in Boston, though with virtual work, it’s possible in most locations now.

 

[anonymous]

Very hard to fire.

So be very wary hiring senior leaders from biogen, moderna, pfizer, catalent, amgen, etc. Toxicity by choice or as a result of incompetence is what they know and likely did.

The worse part is that most outside of Biogen (perhaps most within) know how horrible she is as a leader (and as a person) and her opportunities outside of Biogen are likely non-existant. I mean, who in their right mind would hire her after what she has done to Biogen? Anyone who does simply didn’t do their due diligence and indicative as to their own leadership.


Means we’re stuck with her until she retires or we get bought out.