Regenerative Medicine

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What happened to Jonas? He has only been there for a few months, right? What a mess. This operation has been run in the ground. It's a case study on poor leadership and not understanding the business that you are in. The additive effect of the many poor, albeit small, decisions have added up to a disaster. Most of the folks I knew here are gone...but there are a couple of good friends still left in the company. I feel for them and hope they either get out of this mess or things get turned around (highly unlikely on the latter).

Dermagraft is gone. RIP. It's a matter of time. I am glad I left when I did.
 






Pessimists! Dermagraft is a phoenix. It will rise up from the ashes if it reaches that point. Dermagraft is a high touch sale, so the sales strategy will change. A humbling experience, but recoverable nonetheless. Once a commercially experienced leader is put in charge, Dermagraft will rebound.
 






Bloomberg 2/20/13:
"Ornskov also said that divesting Dermagraft, a treatment for diabetic foot ulcers, isn’t out of the question, this person said. Shire acquired the product with its $750 million purchase of Advanced Biohealing Inc. in May 2011. The company abandoned efforts to develop Dermagraft for leg ulcers in August 2011 after it failed in a clinical trial. Sales of Dermagraft dropped 65 percent to $19 million in the fourth quarter, Shire said Feb. 14."

People get your bags packed.
 






But wait there is more!!!

"Shire (SHPG) is exploring ways to return up to 2B pounds back to shareholders in an attempt to bolster its defenses against a possible foreign takeover bid, Daily Mail reports. The move comes amid speculation that an American company, possibly Bristol-Myers (BMY) is seeking to buy Shire, the paper added."
 
























Was the head of regenerative medicine at Shire Pharmaceuticals fooled into accepting a promotion? Jeff Jonas claims in a lawsuit that the biotech failed to disclose the unit faced declining sales, a probe by the feds into illegal marketing and that a new Shire ceo was about to be named right after he began his new job. Had he known all this, Jones maintains he would have instead taken another job offer.

The mess began last fall, when Jonas approached former Shire ceo Angus Russell about his desire for a position with added responsibilities since he was being offered such opportunity elsewhere. And so, last November he was named president of regenerative medicine and moved from Philadelphia to San Diego, where the unit was based, according to the lawsuit.

He did so after receiving assurances that his position would be secure under newly named Shire ceo Flemming Ornskov and his skills were “urgently” needed. By early this year, however, he claims to have smelled a rat. For one, Ornskov allegedly began overhauling senior management and executives who were over 40 years old were being told they did not have “enough runway” to be offered promotions.

Moreover, Jonas claims to have belatedly learned that the US Department of Justice was investigating the unit, which was once Advanced Biohealing, a company that Shire had purchased in 2011. Its primary product was Dermagraft, which is used to treat diabetic foot ulcers. The feds were probing sales and marketing activities before and after the acquisition and, according to the lawsuit, were seeking up to $1.5 billion in penalties.

“As a number of significant employees left the RM business in the course of the DOJ investigation, it became clear to Jonas that he had been promoted to put a good face on a messy, problematic situation in RM business, rather than to use his skills to build the division, as senior management had previously represented,” he claims in his lawsuit.

Jonas claims to have heard rumors that he was to be replaced in connection with the age-related management overhaul and, after raising concerns, he was demoted last month and placed on administrative leave. He alleges these moves sullied his reputation inside and outside the biotech and this constituted wrongful termination. His age, by the way, is not disclosed in the lawsuit
 












Jj's suit is full of crap. The DOJ investigation was made public when KR was still Pres. He was probably too busy listening to himself talk. Go to Pharmalot to read the full complaint. Jj makes himself look like such as ass. He is an overpaid exec having a hissy fit because he didn't get his way. He has plenty of money with his big fancy house on the Main Line in Philly and house in DelMar. He should just quietly retire and put his ego to rest. Oh, and since he is suing Shire he doesn't get severance....
 






Anonymous said:
Jj's suit is full of crap. The DOJ investigation was made public when KR was still Pres. He was probably too busy listening to himself talk. Go to Pharmalot to read the full complaint. Jj makes himself look like such as ass. He is an overpaid exec having a hissy fit because he didn't get his way. He has plenty of money with his big fancy house on the Main Line in Philly and house in DelMar. He should just quietly retire and put his ego to rest. Oh, and since he is suing Shire he doesn't get severance....
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Heck of a read.

http://freepdfhosting.com/e2d175eb8f.pdf

Sounds like to me JJ was played. Reminds me of Enron where an executive (known as the Black Widow) would promote a senior leader to a position of greater responsibility and this was rolled out with tremendous fanfare and congratulations. This role typically included some new skill set that needed development. First "slip" and the guy that was just promoted would get canned.

Pretty effective way of getting ride of someone and is demonstrative of political plays at the top.

I would be upset as well.
 






Anonymous said:
Heck of a read.

http://freepdfhosting.com/e2d175eb8f.pdf

Sounds like to me JJ was played. Reminds me of Enron where an executive (known as the Black Widow) would promote a senior leader to a position of greater responsibility and this was rolled out with tremendous fanfare and congratulations. This role typically included some new skill set that needed development. First "slip" and the guy that was just promoted would get canned.

Pretty effective way of getting ride of someone and is demonstrative of political plays at the top.

I would be upset as well.
Click to expand...

This division is a complete embarrassment. Not only does it not perform (MORE than a 60%reduction), but people are engaging in lawsuits because it's so crappy. Being associated with this division actually ruins one's opportunity else where. Why is anyone here?
 






Well, not really. There is enough blame to go around to many, probably you included. Blame for both the good "and" blame for the bad. Worked for both teams and can say, each had their strengths and each had their faults. You keep mentioning Matt's name, probably because you feel he did you personally wrong. Probably should look in the mirror a little while before repeatedly slamming someone. This is gutless where I come from.
 


















Right.

get out of patient charts. stop filling out insurance verification forms on your own. stop paying your docs all that $ for lame talks. clinical hours? what a joke. you guys are worse than the old gang. at least they could sell and were respected. you are just unethical pharma hacks.
 












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