R&D

Quote












RP specifically said it would NOT be across the board even within R&D. Discovery research will be disproportionately affected. He also made a point of saying that the RIF would be significantly less than 10% of the total R&D staff, not 10%.

For once I can confirm that most of the people posting on this board have the facts wrong.
 












Anonymous said:
RP specifically said it would NOT be across the board even within R&D. Discovery research will be disproportionately affected. He also made a point of saying that the RIF would be significantly less than 10% of the total R&D staff, not 10%.

For once I can confirm that most of the people posting on this board have the facts wrong.
Click to expand...

Thanks for clarifying. But is this not worse, if I understand your point? Discovery is no longer the priority, so innovation will be bought? Good luck with that strategy. Kevin, RP certainly can't run an innovative company, so with that as the base case, this makes sense. But why oh why keep these losers and cut good people who try to make a difference.
 












In time of war, soldiers bare the consequences of poor decisions by their officers, and often die because of them. In time of peace, instead, lowly and mid level employees pay the price of bad management. This might not be just as dramatic, still it has deep consequences for those affected.
Amgen's problems start at the top with one of weakest management in the industry. And this is acknowledged in rankings by sector publications. Weak management only hire more weaklings as understudies because they fear that, otherwise, one day they might bite the hand that fed them.
Rounds of layoffs are pretty much useless if the wrong people are not removed. The company has not had a direction for at least 5-6 years by now, if not more despite the "big layoff" of 2007. The proof is in the pudding: just look at the stock price. I am sure that the business is tough, but it is even tougher when you have the wrong people at the helm.
And if Wall Street analysts fall for these cheap tricks, then they are really jackasses.
I often read that Amgen has one of the best pipelines but then, instead, they are always missing expectations.
Where are the heroes of Prolia? Where are those marketing gurus who forecast billions in sales? I bet they all left the company already after telling management what they wanted to hear a few years ago and likely putting fat bonuses in their pockets.
Where is the board to protect us, employees and shareholders? Unfortunately, they are in bed with KS.. weak board = weak stock performance. They even teach that to students in business schools. But it is research that needs to be cut. Hilarious and tragic at the same time.
 












Amgen R&D has been risk-averse to a fault for a long time. At least now all ambiguity has been removed regarding the relative importance of science and innovation vs. lining senior management's pockets.
 






Anonymous said:
Amgen R&D has been risk-averse to a fault for a long time. At least now all ambiguity has been removed regarding the relative importance of science and innovation vs. lining senior management's pockets.
Click to expand...

Amgen may suck when it comes to internal drug discovery but it also has a history of terrible acquisitions and in-licencing. Tularik, Ilypsa, Alantos, Abgenix etc. Total waste of money
 
























Anonymous said:
You forgot Immunex, the biggest bad deal of them all.
Click to expand...

They may have paid too much for Immunex to get Enbrel but they aquired some outstanding discovery research scientists who really knew how to come up with new targets. The really sad thing about this round of layoffs is that due to the "realigning" of R&D they will be getting rid of some very good scientists unlike the RIFs in 2007 where the weakest were culled. There is no way that Amgen will ever regain any sort of inhouse capacity for discovery, they are now just one of many biosimilar me-too companies.
 












Anonymous said:
They may have paid too much for Immunex to get Enbrel but they aquired some outstanding discovery research scientists who really knew how to come up with new targets. The really sad thing about this round of layoffs is that due to the "realigning" of R&D they will be getting rid of some very good scientists unlike the RIFs in 2007 where the weakest were culled. There is no way that Amgen will ever regain any sort of inhouse capacity for discovery, they are now just one of many biosimilar me-too companies.
Click to expand...

Yes some good, but the very best of Immunex left with the deal. Remaining folks good scientists yes, but output of antibodies against genes cloned at Immunex is from the foundational strength of Immunex (some of the best early cloners), and not a lot of productivity after that, but the blame lies with management, not the scientists. Not sure the new crop of Immunex folks came up with good targets, but anyway, nobody came up with good drugs (outside of DMAB, old Amgen drug), and that is all that matters. But yes, no way to recover an in-house discovery capacity, especially since it was devalued by Kevin since before he became CEO.
 












Kev's "devaluation": Air Amgen

Anonymous said:
But yes, no way to recover an in-house discovery capacity, especially since it was devalued by Kevin since before he became CEO.
Click to expand...

KS is not a Scientist. RP is not a Scientist. This co has been trash - in terms of "discovery" - since our last REAL Scientist on the EC, Dr. Fenton, left.

In fact, Lilly's reject Yes Man RP - when asked "What about Kevin's raise?" - had the guts to tell his R&D minions this morning "He's worth it."

>>Barf in my mouth emoticon<<

K-K-K-Kevie & the Jets!
 






"Not sure the new crop of Immunex folks came up with good targets, but anyway, nobody came up with good drugs"

Actually they did, time and time again, together with plenty of old-timers from the pre-Amgen days. The problem was/is that when they tried to move them forward in the pipeline, management was so risk adverse they didn't have the balls to take anything forward that was novel (why isn't anyone else working on it? How do we know it will work?). They only want sure things which is why they target the same molecules that other more adventurous companies have shown to play roles in disease.
RIP Amgen innovation.
 






Re: Kev's "devaluation": Air Amgen

ATOite said:
KS is not a Scientist. RP is not a Scientist. This co has been trash - in terms of "discovery" - since our last REAL Scientist on the EC, Dr. Fenton, left.

In fact, Lilly's reject Yes Man RP - when asked "What about Kevin's raise?" - had the guts to tell his R&D minions this morning "He's worth it."

>>Barf in my mouth emoticon<<

K-K-K-Kevie & the Jets!
Click to expand...

Omg. I wish I was there today, but happy that I don't have to listen to this BS anymore. RP is the Merck reject - did nothing there, them hired JPM to run R, then created Translational Sciences for JPM when JPM could not lead R. Was Joe sitting in the front row today rubbing his head ?
 






Top Bottom
Back
Quote