Questions for current reps

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anonymous

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With so many new hires, I apologize off the bat for asking more new hire questions. But it certainly sounds like a very different set up then most pharma gigs. So for starters:

-the car allowance of $500-600 is that in addition to them paying for fuel/fleet card? Do they also pay for insurance registration inspection and ez pass?

-is the micromanagement as bad as some make it out to be? My managers at my current company are pretty hands off and I know that management can make or break a reps experience of working somewhere.

-so if they are increasing the sales force so significantly I mean, wouldn't they likely also lay off a significant amount as well? A lot of pharma companies if you’re directly employed you’re MUCH less likely to be laid off bc they have so many CSO’s.

-what are the chances that this doesn’t get sold off to BP? And are inside reps really thinking it’s going to be within 6 months?

Thanks, I’m currently a contract rep through another company just trying to feel out the potential before going down a rabbit hole.
 






anonymous said:
With so many new hires, I apologize off the bat for asking more new hire questions. But it certainly sounds like a very different set up then most pharma gigs. So for starters:

-the car allowance of $500-600 is that in addition to them paying for fuel/fleet card? Do they also pay for insurance registration inspection and ez pass?

-is the micromanagement as bad as some make it out to be? My managers at my current company are pretty hands off and I know that management can make or break a reps experience of working somewhere.

-so if they are increasing the sales force so significantly I mean, wouldn't they likely also lay off a significant amount as well? A lot of pharma companies if you’re directly employed you’re MUCH less likely to be laid off bc they have so many CSO’s.

-what are the chances that this doesn’t get sold off to BP? And are inside reps really thinking it’s going to be within 6 months?

Thanks, I’m currently a contract rep through another company just trying to feel out the potential before going down a rabbit hole.
Click to expand...


No fleet gas card. That 500-600 goes towards car payment, insurance, gas expenses, ETC. They might pay for EZ pass though I'm not sure. I do not work in an area that requires that sort of thing. They pay for parking passes and stuff like that. It's a reimbursable monthly expense. Keep in mind, you also get mileage reimbursement on top of your car allowance. Depending on how much you drive a month, that can amount to an addition 400-600.

Micromanagement is purely a subjective observation. What some consider micromanagement, others might not. My perspective is I only notice it for newer reps that dont necessarily know what they are doing or for the reps that are under performing. Each manager is different.

Increasing significantly yes, but if we continue the go it alone approach and everything is moving nicely in december (assuming approval) then I dont see why there would be layoffs bc they will want as many reps promoting the new indication for several years to come. Layoffs will only happen if we are sold to another company or if we dont get an approval for new indication. Turnover will happen each year but not on any massive scale. They weed out under performers as they should.

If we hit on an approval, i would put chances of buyout at 60%. If we get approval and no buyout by march, then we are safe and likely going to continue to go it alone. The only reason I say 60% is because we will cost alot of money to any company that approaches us after an approval is granted. Will someone pay for it is the question? Just my honest opinion. I could be completely wrong.

Good luck to you.
 






  • Woody   Oct 31, 2019 at 08:21: PM
FYI: Vascepa has the a real good chance of being a game changer. I sold both Lipitor and Crestor in my day. We did NOT have data like this. If I were I would take this chance and run with it. Plus if you sell the heck out of it, many more companies will want to hire you.
Don't hang around negative reps. Do the best you can and the money will be there.
I was the 3rd rep in the country to reach a 50% marker share with Lipitor. I made over $40K that year in bonus....1998.
 






anonymous said:
No fleet gas card. That 500-600 goes towards car payment, insurance, gas expenses, ETC. They might pay for EZ pass though I'm not sure. I do not work in an area that requires that sort of thing. They pay for parking passes and stuff like that. It's a reimbursable monthly expense. Keep in mind, you also get mileage reimbursement on top of your car allowance. Depending on how much you drive a month, that can amount to an addition 400-Increasing significantly yes, but if we continue the go it alone approach and everything is moving nicely in december (assuming approval) then I dont see why there would be layoffs bc they will want as many reps promoting the new indication for several years to come. Layoffs will only happen if we are sold to another company or if we dont get an approval for new indication. Turnover will happen each year but not on any massive scale. They weed out under performers as they should.

If we hit on an approval, i would put chances of buyout at 60%. If we get approval and no buyout by march, then we are safe and likely going to continue to go it alone. The only reason I say 60% is because we will cost alot of money to any company that approaches us after an approval is granted. Will someone pay for it is the question? Just my honest opinion. I could be completely wrong.

Good luck to you.
Click to expand...
My territory will be a larger one so I will be putting on more miles. Why don’t they charge the federal rate which is .54 cents per mile? This would be a better deal and should cover more than $500/$600 per month. That’s basically the car payment if you want it paid off in 4 years! Sounds like they want a car 4 years or older! Can we claim all the miles or from your first appointment? That would suck if it’s 100 miles from your home!

Also, many companies can have the money to buy Amarin! Amgen paid $13.4B for ONE drug, Otezla from Celgene. Don’t kid yourself!
 






Woody said:
FYI: Vascepa has the a real good chance of being a game changer. I sold both Lipitor and Crestor in my day. We did NOT have data like this. If I were I would take this chance and run with it. Plus if you sell the heck out of it, many more companies will want to hire you.
Don't hang around negative reps. Do the best you can and the money will be there.
I was the 3rd rep in the country to reach a 50% marker share with Lipitor. I made over $40K that year in bonus....1998.
Click to expand...
I agree! What is the “average” bonus per quarter for reps? Is it around $20K? I know exceptional territories are making $35K per quarter but that is not the average. I guess a better question would be is $20K per quarter reasonable or will it change (be lower) with more reps being hired?
 






Can I just try to feel you out?
anonymous said:
With so many new hires, I apologize off the bat for asking more new hire questions. But it certainly sounds like a very different set up then most pharma gigs. So for starters:

-the car allowance of $500-600 is that in addition to them paying for fuel/fleet card? Do they also pay for insurance registration inspection and ez pass?

-is the micromanagement as bad as some make it out to be? My managers at my current company are pretty hands off and I know that management can make or break a reps experience of working somewhere.

-so if they are increasing the sales force so significantly I mean, wouldn't they likely also lay off a significant amount as well? A lot of pharma companies if you’re directly employed you’re MUCH less likely to be laid off bc they have so many CSO’s.

-what are the chances that this doesn’t get sold off to BP? And are inside reps really thinking it’s going to be within 6 months?

Thanks, I’m currently a contract rep through another company just trying to feel out the potential before going down a rabbit hole.
Click to expand...
 






I love working for Amarin. I’m a veteran and have been in this industry for over 12 years. Don’t listen to the BS that people post on this forum. I was with big pharma for years and it was a nightmare compared to Amarin. Vascepa is an exceptional drug to sell and I have been very happy here.
 






anonymous said:
My territory will be a larger one so I will be putting on more miles. Why don’t they charge the federal rate which is .54 cents per mile? This would be a better deal and should cover more than $500/$600 per month. That’s basically the car payment if you want it paid off in 4 years! Sounds like they want a car 4 years or older! Can we claim all the miles or from your first appointment? That would suck if it’s 100 miles from your home!

Also, many companies can have the money to buy Amarin! Amgen paid $13.4B for ONE drug, Otezla from Celgene. Don’t kid yourself!
Click to expand...
The federal rate is actually up to .58 per mile. This cap of $500-$600 per month above mileage actually hurts reps with bigger territories!
 












Let’s go back to basic math:

At .58 cents per mile and I drive 4000 miles/month that equals $2,320 per month.

At .27 cents per mile and driving 4000 miles that would equal $1,080 plus $500 that they subsidize. That total comes to $1,580.
I get $740 LESS per month AND more wear and tear on MY vehicle! No thank you! It may work for you reps in metro territories but NOT rural territories!!
 






Thanks to all of you that have replied to this thread. The information is very useful and the fact that you were all very forthright based on your experiences is refreshing. The negativity on this site can be overwhelming. I know many others are waiting with baited breath regarding the outcome of the FDAs review of the Vascepa data as I am. I am very selective about who I interview with and felt that Amarin and the data on Vascepa was worth pursuing. I’m actually excited about the possibility of selling this product. The ones that complain are those that have been tainted over the years, were or are not producing or are those that only look at a glass half empty. If the position at Amarin is not for you then move out of the way for all the people that want the opportunity regardless of the pay, company car, benefits, allowance etc.
 






Woody said:
FYI: Vascepa has the a real good chance of being a game changer. I sold both Lipitor and Crestor in my day. We did NOT have data like this. If I were I would take this chance and run with it. Plus if you sell the heck out of it, many more companies will want to hire you.
Don't hang around negative reps. Do the best you can and the money will be there.
I was the 3rd rep in the country to reach a 50% marker share with Lipitor. I made over $40K that year in bonus....1998.
Click to expand...

Sounds like J is drinking the kool Aid
 






  • Woody   Nov 05, 2019 at 10:31: AM
We all have choices in life...why did you take the job if you feel this way. This drug is very good and will do many pts. a lot of good. Why not SUCK it up and do the best you can? I don't get it. Maybe, you would be better off in a Gov't job...where almost everyone complains.
 












So great financials came today. ADA, NLA, and AHA have changed their guidelines to add Vascepa why are there no offers coming in for the reps that were told they were hired?
 












  • Woody   Nov 07, 2019 at 10:56: AM
anonymous said:
Thanks to all of you that have replied to this thread. The information is very useful and the fact that you were all very forthright based on your experiences is refreshing. The negativity on this site can be overwhelming. I know many others are waiting with baited breath regarding the outcome of the FDAs review of the Vascepa data as I am. I am very selective about who I interview with and felt that Amarin and the data on Vascepa was worth pursuing. I’m actually excited about the possibility of selling this product. The ones that complain are those that have been tainted over the years, were or are not producing or are those that only look at a glass half empty. If the position at Amarin is not for you then move out of the way for all the people that want the opportunity regardless of the pay, company car, benefits, allowance etc.
Click to expand...
Thanks...you are 110% correct!
 






anonymous said:
Let’s go back to basic math:

At .58 cents per mile and I drive 4000 miles/month that equals $2,320 per month.

At .27 cents per mile and driving 4000 miles that would equal $1,080 plus $500 that they subsidize. That total comes to $1,580.
I get $740 LESS per month AND more wear and tear on MY vehicle! No thank you! It may work for you reps in metro territories but NOT rural territories!!
Click to expand...

Don 't forget, the monthly car allowance is also taxed as income!
 


















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