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Nominees for best AbbVie blunder in the last 10 years are…

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anonymous said:
One or two more bad quarters and the board is going to hold people accountable. “You said you had a plan for 2023-2025. We were told this for a decade. If this is the plan, then you are fired, because we are getting hammered.”

Then someone new is going to come in with a buzz saw and “make their mark according to their new vision.”

The alternative is a panic big acquisition to buy management time. There’s a lot of debt already though and the cash flow is drying up.

Companies that fail patent cliffs hard become vulnerable to takeovers. I have no idea what that market cap threshold is, but it may have been a major reason for the Allergan deal.
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For years I have been thinking why Allergan? I think your rationale is the best I have heard to date.
 




anonymous said:
One or two more bad quarters and the board is going to hold people accountable. “You said you had a plan for 2023-2025. We were told this for a decade. If this is the plan, then you are fired, because we are getting hammered.”

Then someone new is going to come in with a buzz saw and “make their mark according to their new vision.”

The alternative is a panic big acquisition to buy management time. There’s a lot of debt already though and the cash flow is drying up.

Companies that fail patent cliffs hard become vulnerable to takeovers. I have no idea what that market cap threshold is, but it may have been a major reason for the Allergan deal.
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I think a panic acquisition is a real possibility. But they would need board approval I think … these idiots can’t be trusted
 




If the plan for 2023 - 2025 has been in place for 10 years, it may be linked to female testosterone. They hired Dr. Snabes in 2013 from Biosante. Biosante (now Ani Pharmaceuticals) never disclosed the findings of the 3,656 participant long term Libigel Safety/Efficacy study. Dr Snabes was the study director. They found that administering testosterone reduced the risk of CV events in postmenopausal women with HSDD, who were also at a higher risk of suffering from CV events by at least 70%. In addition they discovered that it reduced the risk of breast cancer by an undisclosed amount. None of this information has been publicly released other than in patent applications. It now looks like a Certification request to delay the release of the results for the trial has been been submitted. A Certification request points to the filing of an NDA for the first FDA approve testosterone drug to treat women. If this is the case they also own Intrinsa, through their acquisition of Allergan. Intrinsa would have posed the closest competitive threat to a launch. If this is the case with AbbVie's Study to Evaluate the Effect of Testosterone Replacement Therapy (TRT) on the Incidence of Major Adverse Cardiovascular Events (MACE) and Efficacy Measures in Hypogonadal Men could give them the largest body of evidence regarding the prescribing of testosterone for both men and women.

Safety and Efficacy of Libigel for treatment of HSDD in Postmenopausal Women
 




anonymous said:
For years I have been thinking why Allergan? I think your rationale is the best I have heard to date.
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The Allergan acquisition completely destroyed the R&D culture they were trying to build and placed AbbVie firmly in the Pfizer model.

Maybe they felt they had to in order to avoid acquisition post Humira LOE.
 




anonymous said:
The Allergan acquisition completely destroyed the R&D culture they were trying to build and placed AbbVie firmly in the Pfizer model.

Maybe they felt they had to in order to avoid acquisition post Humira LOE.
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Pfizer R&D can pull it together and get a vaccine approved in less than a year when the system is tested. How did AbbVie do during the pandemic? AbbVie may aspire to be Pfizer but as someone who has worked in the Pfizer system, AbbVie is far, far, far from Pfizer.

I don't dispute the Allergan acquisition is questionable but what destroyed R&D is weak AbbVie management. And on top of the list is Sleepy Tom. Wait until folks hear what he is doing right now.
 




anonymous said:
Pfizer R&D can pull it together and get a vaccine approved in less than a year when the system is tested. How did AbbVie do during the pandemic? AbbVie may aspire to be Pfizer but as someone who has worked in the Pfizer system, AbbVie is far, far, far from Pfizer.

I don't dispute the Allergan acquisition is questionable but what destroyed R&D is weak AbbVie management. And on top of the list is Sleepy Tom. Wait until folks hear what he is doing right now.
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Only little startups have a mostly discovery guy as CSO. You want someone who, yes, understand science and preclinical data, but also is an expert in drug development. Doesn’t matter what degree you have; what matters is successful drug development experience. Severino had that for sure.

Because, ya know, a dug is worth zero until it is actually approved, and it’s in late phase where the 400 million dollar studies occur.

Next CEO is gonna need to figure out if he/she has the right people running the ship.
 








anonymous said:
I guess Rick voted today. We don’t aspire to receive CRLs.
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Rick doesn’t care about the CRL or to hold SZ accountable or anyone else. He lets the RDLT waste billions playing science games NOT drug development. He lets a jack of all trades md run the neurosciences TA in the absence of expertise, he lets preclinical device people run toxins, he lets strategy people run clinical operations - this is not a serious company. No questions are asked as to why anyone who knew what they were doing in drug development has chosen to leave - I mean the mass exodus didn’t even hit the radar. It will become more apparent each day the Humira LOE is fully realized that this ship is sinking.
 




anonymous said:
Rick doesn’t care about the CRL or to hold SZ accountable or anyone else. He lets the RDLT waste billions playing science games NOT drug development. He lets a jack of all trades md run the neurosciences TA in the absence of expertise, he lets preclinical device people run toxins, he lets strategy people run clinical operations - this is not a serious company. No questions are asked as to why anyone who knew what they were doing in drug development has chosen to leave - I mean the mass exodus didn’t even hit the radar. It will become more apparent each day the Humira LOE is fully realized that this ship is sinking.
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The entire R&D organization fell apart without Severino. He wasn’t perfect (Rova-T?), but was smart as hell, had a great background, and was positioned to be the next CEO.

Then he gets forced out over night, and Abbott nepotism/politics stormed back with a vengeance. Very strange strategic move, and 180 degrees opposite from what Abbvie initially set out to do.

It wasn’t just that; there was a major attitude shift. Talent and expertise didn’t matter. All that mattered was “looking good” and passing the blame elsewhere.

90% of the crucial R&D leadership looked around and promptly left. And it was the people that weren’t lifetime Abbott, but had worked different places so they actually understood their value and what drug development was supposed to look like. And these people aren’t easy to find. They are hugely sought after, and at anytime there might be 10 in the world open to new roles in their field.

It seems like there is no plan now. “Survive LOE and then we’ll figure it out” is the closest I can discern.

All I know is that a few years ago the strategy massively shifted. Don’t know why. Maybe they crunched the numbers, realized LOE wasn’t going to go well, and then thought they would be acquired without Allergen.
 












This company has valuable assets. It had value period.

But a grim reaper needs to come in and reduce 30-40% of headcount.

So, so many legacy Abbott people that are totally incapable. Anyone in executive group that is legacy Abbott should also have an enormous red circle on them.

I feel bad for those that can’t leave.
 




anonymous said:
This company has valuable assets. It had value period.

But a grim reaper needs to come in and reduce 30-40% of headcount.

So, so many legacy Abbott people that are totally incapable. Anyone in executive group that is legacy Abbott should also have an enormous red circle on them.

I feel bad for those that can’t leave.
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Change is possible, but it will be a looooong road, 10 years at least.
 




Change is not coming to AbbVie. It’s foolish to think so, AbbVie is Abbott Pharma. It always was and it’s not doing so bad. Many thought the Amgen migration was going to change us. It did not. We outlasted them and who is laughing now. Suck up it and accept you are fortunate that all the Abbott/AbbVie lifers built this company and let you join.
 




anonymous said:
Change is not coming to AbbVie. It’s foolish to think so, AbbVie is Abbott Pharma. It always was and it’s not doing so bad. Many thought the Amgen migration was going to change us. It did not. We outlasted them and who is laughing now. Suck up it and accept you are fortunate that all the Abbott/AbbVie lifers built this company and let you join.
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Who is laughing now? Not Abbvie shareholders.

I think the only people
Smirking are those that retired or moved up and on within last 3 years.

And anyone still at Abbott from the time of the split. As Abbvie market cap went up they said to themselves “just wait, this king has no cloths.” They knew this would probably happen and didn’t want the drama or to get acquired once Humira was done.
 




anonymous said:
Change is not coming to AbbVie. It’s foolish to think so, AbbVie is Abbott Pharma. It always was and it’s not doing so bad. Many thought the Amgen migration was going to change us. It did not. We outlasted them and who is laughing now. Suck up it and accept you are fortunate that all the Abbott/AbbVie lifers built this company and let you join.
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This sums it up perfectly - complacency and mediocrity.
 




CMC leadership. This is a supposed drug company that struggles to successfully formulate and deliver drugs with no consequences to the leadership team. Instead they muddle accountability by having PCS and DMPK report into CMC leaders. This is a monumental blunder.
 




Creation of the DST program. $3000 a year per district. Whether you work you ass off or just fuck off, you get the 3K.

Program needs to be eliminated. That is an easy $1.5MM to the bottom line.
 








anonymous said:
Don’t forget the Mitchell Tate blunder!
Why he is still employed anywhere is beyond me.
AbbVie would be smart to press charges, and his wife must know Mitch cheats on her.
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I don’t know Mitchell Tate but I know another AbbVie Mitchell who is a HUGE blunder. An obstructor of progress of monumental levels, very well known in fact to be a total asshat, who has found power and prestige among the AbbVie leadership. He found his type of people. Happy ending for everyone who doesn’t care about actual innovation.
 




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