New drug from Regeneron

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The previous message about salaries was accurate. The question what's the likelihood that the options they offer will make up for that difference in salary and other benefits. If they do, what will the time frame be? Not to mention if Trap does not meet expectations you could be out the door with little or no severance (unlikely here).
 






Anonymous said:
I was offered a position with Regeneron, and the previous post is absolutely correct, on the high end you could make 140, the average is probably around 120k. Please note that these salaries are not just pulled out of a hat, there are surveys done which include virtually all drug companies, and they all know what the going rate is. If you are a rep, and you have a salary of over 140k, you definately fall outside of the range of what most companies are willing to pay. Your salary is that high likely due to longevity and nothing else. So yes, if you started working at Genentech 10 years ago at 115K, and you averaged 3% per year in raises, your salary now would 155-160K. Very few, if any companies will start a rep at that kind of money. In closing, the fact that you are bound in platinum handcuffs, to Genentech, does not mean that the salaries for Regeneron are low, THEY DEFI ATELY ARE NOT! I can attest first hand.
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I have been here 10yrs and my salary isn't 155k, it's about 30k less than that. 10 years ago, starting salaries were 65k plus stock options. Options and ESP is where you made the money. Since Roche has bought us, we have taken a big pay cut.
 


















Anonymous said:
I have been here 10yrs and my salary isn't 155k, it's about 30k less than that. 10 years ago, starting salaries were 65k plus stock options. Options and ESP is where you made the money. Since Roche has bought us, we have taken a big pay cut.
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True, Roche doesnt offer stock options; but you got a huge premium on the options that you had, as a result of the buyout; you certainly did not TAKE A PAY CUT! Of course you know that options, etc are NEVER GAURANTEED, hence noting was taken from you, as nothing was promised. BTW, if you are person claiming that you got an offer from Regeneron that was 35k less than you currently make, then they definately did not really want you. Based on what you said above, you are currently making 125K. I know for a fact that they were definitely willing to pay more than that.
 












Anonymous said:
you certainly did not TAKE A PAY CUT! Of course you know that options, etc are NEVER GAURANTEED, hence noting was taken from you, as nothing was promised.
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Tell that to my W-2.
before merger and after merger there is a 50k difference.

that is such a condescending comment- almost as fucking bad as " we bought you".
 






Anonymous said:
Tell that to my W-2.
before merger and after merger there is a 50k difference.

that is such a condescending comment- almost as fucking bad as " we bought you".
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Its true though, stock options are variable compensation (you might get them, you might not). The fact is that the absolute KILLING that you made on the huge premium paid at puchase, more than any loss of options. Besides, that 50K difference, is as a result of selling your options the year before. Remember OPTIONS are not stock grants, but you make the money on the difference between the strike price and the selling price. Obviously the 50k that you made were on options granted years ago, since ALL grantors rewuire you to hold on for a minimum period of years. The bottomline is that with the recent performance of GNE and its stock price, you were unlikely o have experinced such a profit in the last couple of years without the takeoffer.

The bottomline line is that it is true, the Roche takeoffer gave US a huge payout on options that would have been absolutely worthless had the takeover not taken place. REmember again, despite this, stock options are never gauranteed forever. I have worked for several companies where routine options were discontinued.
 
























Eylea, aflibercept, vegf-trap. Same efficacy as lucentis, also when given in three monthly loading doses, followed by one dose every 2 months. Retina is warming up pretty nicely; half the injections means half the chance of complications. Although not the drug of choice for patients treated with avastin or lucentis right now. Earlier exposure to chimearal dna can lead to some nasty inflamation.
 












Anonymous said:
Lucentis reps will get hit with a non compete. And, salaries aren't all that competitive.
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Hey dummy, you dont get "hit" with a non-compete; you sign them at the time that you are offered a job. There is no drug rep in the industry with a "non-compete". Who ever heard of an entry level job requiring a non-compete. You need to think before you speak.
 






Its possible theyll market it as an anti tumor drug down the road, but VEGF trap is more a descriptor for the type of medication it is then the specific drug. But yeah, right now, anyone opthal talking about vegf trap is talking about aflibercept. I honestly dont think itll cut into avastins numbers too much. Lucentis might end up being a different story.
 


















Anonymous said:
The package rocks! 130-140 base, uncapped bonus, stock options, full benefits...plus the opportunity to be part of a sales force of only 50-60 people and a start up. They know what they're doing. For those of you who have knocked it, you'll think twice once you realize what this company is capable of...
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These numbers are accurate. You can count on a base of absolutely no more tha 140k; which is a a ton aof money for what we do. However, many of us make much more. They will give you a 10-15% raise on your current salary, if you make less that 130k. Also correct on the bonus; I know that 3 years ago, the target bonus was low to mid 40s; with top 5% targeted at 2.5x Target or around 100k. On the options, the stock is already at 480 (up from 280 12 months ago); so the options are not likely to be worth much in the short term.

In the end, if you are a long time Roche employee, it is unlikely to be worth your while to go to Regeneron for the money; as you likey wont get much.

Also please note that, prior to Eylea being launched, Regeneron absolutely made a point to not hire lucentis reps. If you think being you have an inside track due to lucentis, you are absolutely wrong. I was a consultant with them, for a short tiome, on Incentive compensation and was privy to some information. They were looking for buy and bill, and injectable experience, they did not care about eye experience, and hiring Lucentis reps was strictly frowned upon; they simly wanted to develop their own culture, and had know desire to become Genetech East.

These areb all true facts.
 












Anonymous said:
There are a ton of lucentis reps, frm's, msl's, tll's at Regeneron. They hired them.
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Not true at all. I was there so I know. There maybe a few, but the VP of commercial operatio (sales/marketing) was quite adamant that they were not going to turn regeneron into "genentech east". Have you ever worked at regeneron? You are just plain wrong?
 






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