September 2022 layoffs.

[anonymous]

Seems to me with the recent announcement that they are spinning off the Uzedy hospital account folks into a new LTC team and adding a new LTC National Director roll with 4 LTC RSMs, there will be additional backfilling to fill out that LTC salesforce. This new focus will be solely on promoting Austedo in nursing homes, psych hospitals, rehabilitation centers, etc...
With Austedo being a potential Billion $ brand in TD/HD it only makes sense that most of the Uzeddy folks will be blended over to LTC. Attrition has already begun and wholesale layoffs with this franchise might be a mute point, since its becoming more evident that the LAI for schizophrenia isn't going to happen. One would think that the folks with Ajovy in their bags might be more vulnerable to being cut. That product has struggled since day one and with no less than 4-5 other monoclonal antibodies out there for migraine, why would Teva continue dumping money into a product that is mostly written in Primary Care with so many other choices providers have for treatment? Teva might be best served to sell off that product and use the revenue to bolster the brand of Austedo. Yes, 130-140 NP territory reps with 13-14 NP RSMs would create a right sizing for Austedo in CMHC and psych offices alone. The LTC group of 50-60 reps calling on hospitals and group homes then makes more sense and still keeps the Austedo brand franchise in that 200 +/- headcount range. Selling off Ajovy and the entire Respiratory franchise just might be the solution to everything. Then again, I'm just a fly on the wall here in Parsippany listening to what's being said.

 

[anonymous]

Seems to me with the recent announcement that they are spinning off the Uzedy hospital account folks into a new LTC team and adding a new LTC National Director roll with 4 LTC RSMs, there will be additional backfilling to fill out that LTC salesforce. This new focus will be solely on promoting Austedo in nursing homes, psych hospitals, rehabilitation centers, etc...
With Austedo being a potential Billion $ brand in TD/HD it only makes sense that most of the Uzeddy folks will be blended over to LTC. Attrition has already begun and wholesale layoffs with this franchise might be a mute point, since its becoming more evident that the LAI for schizophrenia isn't going to happen. One would think that the folks with Ajovy in their bags might be more vulnerable to being cut. That product has struggled since day one and with no less than 4-5 other monoclonal antibodies out there for migraine, why would Teva continue dumping money into a product that is mostly written in Primary Care with so many other choices providers have for treatment? Teva might be best served to sell off that product and use the revenue to bolster the brand of Austedo. Yes, 130-140 NP territory reps with 13-14 NP RSMs would create a right sizing for Austedo in CMHC and psych offices alone. The LTC group of 50-60 reps calling on hospitals and group homes then makes more sense and still keeps the Austedo brand franchise in that 200 +/- headcount range. Selling off Ajovy and the entire Respiratory franchise just might be the solution to everything. Then again, I'm just a fly on the wall here in Parsippany listening to what's being said.

You may want to touch up your post. Not saying you are wrong or right. I am just saying you said Austedo Reps at 200 and the NP reps at 130-140. The NeuroPsych reps are the Austedo Reps. NueroScience Reps are Ajovy/Austedo and the NeuroHealth Reps are Uzedy. I do not know the size of each division.

 

[anonymous]

You may want to touch up your post. Not saying you are wrong or right. I am just saying you said Austedo Reps at 200 and the NP reps at 130-140. The NeuroPsych reps are the Austedo Reps. NueroScience Reps are Ajovy/Austedo and the NeuroHealth Reps are Uzedy. I do not know the size of each division.

Maybe you should go back and look at the post. I think the point they were trying to make is that Austedo should only have 130-140 assigned or designated NP reps (13-14 RSMs) calling on Psych and Neuro. Then take the additional Uzedy headcount (or what's left of it after attrition) and plug them in high volume potential LTC territories. That total make up in headcount puts the NP/LTC at roughly 200. As far as the NS salesforce is concerned, major cuts need to take place there with the future outlook of Ajovy being so poor. The HD market is so small and NP is more than capable of picking back up Neuro for Austedo call points. The future of Teva's success is simply not in Migraine of Respiratory. Kare said years ago that he will not keep brands around that aren't profitable to the company or the shareholders.

 

[anonymous]

OP here. Uzedy won't be happening for at least 12 months. Layoff in September/October a sure thing. Probably a 40 person LTC salesforce to compete with Neurocrine and probably 1 salesforce combining NP and NS like I originally posted. I do not know the headcount of footprints at this time.

 

[anonymous]

What’s the reason for the Uzedy delay? Why so long for the resubmit?

 

[anonymous]

OP here. Uzedy won't be happening for at least 12 months. Layoff in September/October a sure thing. Probably a 40 person LTC salesforce to compete with Neurocrine and probably 1 salesforce combining NP and NS like I originally posted. I do not know the headcount of footprints at this time.

Not buying it. What is teva going to do about the LAI contract with Medincell for 2-3 drugs by March? You mean to tell me teva is going to drop ajovy (which is possible) and then have 1 sales division for Austedo, possibly Uzedy and maybe 1-2 more drugs? Sorry, that does not make any sense. I think you are just making things up.

 

[anonymous]

Not buying it. What is teva going to do about the LAI contract with Medincell for 2-3 drugs by March? You mean to tell me teva is going to drop ajovy (which is possible) and then have 1 sales division for Austedo, possibly Uzedy and maybe 1-2 more drugs? Sorry, that does not make any sense. I think you are just making things up.

That is exactly what I am saying and there are several others here at the home office that would agree as well but most won't post on here. Many folks aren't privy to the arrangement Teva has with Medincell so don't worry about the relationship with them outside of Uzedy. Uzedy and its LAI technology is the only agreement on the table at this point. Trust me when I say that senior leadership knows attrition within the Uzedy division is happening and that is actually a good thing and playing into the Q-3 plan perfectly! NP/NS will share Austedo starting in October with call points on Psych and Neuro and still some support in migraine with Ajovy, but not a lot of voice like now.
NH will have roughly 40-50 LTC reps calling on Nursing homes, LTC and Psych hospitals.
Do the math that's a layoff of roughly 150-200 folks come September.

 

[anonymous]

It makes no sense. So you are saying they will drop the uzedy reps and cut NP and NS by 20%? So, you are saying teva is giving up on competing with neurocrine? Not buying it. If uzedy is not approved they are dumping the NH division. They already transfered those reps to LTC and hosp. It makes no sense to mess with NP and NS since they already are less in numbers than ingrezza reps. Without NH reps teva has as many reps as neurocrine. I do not see teva giving up. And this is only if teva decides not to move forward with uzedy. A lot of its in there.

 

[anonymous]

Why would they decide not to move forward with Uzedy?
6 months ago everyone in senior mgr had boners over this drug and now they’re going to drop it? Sounds like there is more to the CRL than we were led to believe….

 

[anonymous]

It makes no sense. So you are saying they will drop the uzedy reps and cut NP and NS by 20%? So, you are saying teva is giving up on competing with neurocrine? Not buying it. If uzedy is not approved they are dumping the NH division. They already transfered those reps to LTC and hosp. It makes no sense to mess with NP and NS since they already are less in numbers than ingrezza reps. Without NH reps teva has as many reps as neurocrine. I do not see teva giving up. And this is only if teva decides not to move forward with uzedy. A lot of its in there.

That total lay off number includes a lot more than just field sales for NS/NP. There will still be approx. 300 reps and 30 RSMs supporting Austedo and some will have blend on attainment with additional voice on Ajovi. What's not being discussed is Teva Respiratory being added to those layoff numbers plus all the support rolls and HO fat. NH will focus on Hospital and LTC with 45-50 sales reps and the 4 RSMs.

 

[anonymous]

Why would they decide not to move forward with Uzedy?
6 months ago everyone in senior mgr had boners over this drug and now they’re going to drop it? Sounds like there is more to the CRL than we were led to believe….

It will probably be based on the results of the data leading up to Aug/Sept when it comes to whether Teva wants to resubmit Uzedy to the FDA. IF they feel it looks good it will be 6-12months from that point on if Uzedy will be approved.

Problem is Teva really wanted to get out of the gates quick with this drug because by the time Uzedy is launched 5 other LAIs in that area will now be released. SO instead of teva being ahead of the game, they are now over a year behind in a crowded market with a me too drug. No matter how you look at it, Uzedy is in a tough spot.

 

[anonymous]

Ya, this is bad. Major layoffs are coming. If you have been in this business long enough you can see the signs. A drug that did not get approved and now have a whole sales division in limbo. Another division selling a drug barely profitable. The your austedo sales division being suffocated by too many people selling austedo. Now the company directive is don't worry about detailing prescribers, just call every single office and gather contact info by the end of july? Ya, teva is about to have big lay offs. There is not a single indicator at the moment saying we will not have a massive layoff. I agree with the other guy. Better start looking. I would expect uzedy to get hit the hardest, then NS. NP will probably not get gutted too badly, but expect 60-75% of the sales divisions to get cut

 

[anonymous]

Ya, this is bad. Major layoffs are coming. If you have been in this business long enough you can see the signs. A drug that did not get approved and now have a whole sales division in limbo. Another division selling a drug barely profitable. The your austedo sales division being suffocated by too many people selling austedo. Now the company directive is don't worry about detailing prescribers, just call every single office and gather contact info by the end of july? Ya, teva is about to have big lay offs. There is not a single indicator at the moment saying we will not have a massive layoff. I agree with the other guy. Better start looking. I would expect uzedy to get hit the hardest, then NS. NP will probably not get gutted too badly, but expect 60-75% of the sales divisions to get cut

So many red flags. I hear neurocrine is still looking for reps

 

[anonymous]

So many red flags. I hear neurocrine is still looking for reps

Yes, Neurocrine is still looking for reps, since most of the ones they stole from Teva with "over-promised comp plans and bonus money" are now seeing the big lie. Turnover at Neurocrine has begun so be careful if you're called. Most will now tell you that the grass over there wasn't as green as promised.

 

[anonymous]

Yes, Neurocrine is still looking for reps, since most of the ones they stole from Teva with "over-promised comp plans and bonus money" are now seeing the big lie. Turnover at Neurocrine has begun so be careful if you're called. Most will now tell you that the grass over there wasn't as green as promised.

Maybe you are right. However, it's not exactly sunshine and rainbows over here. Morale is low with everyone thinking more lay offs.

 

[anonymous]

I'm betting layoffs early August. They will not wait until sept.

 

[anonymous]

Yes, Neurocrine is still looking for reps, since most of the ones they stole from Teva with "over-promised comp plans and bonus money" are now seeing the big lie. Turnover at Neurocrine has begun so be careful if you're called. Most will now tell you that the grass over there wasn't as green as promised.

Dumbass...those of us who bailed are still in our first quarter of IC. With the expansion this first quarter (Mar-June) is a 4 month quarter and yes, mine will be more than average. Say what you will about the grass not being greener etc, but Neurocrine culture and products are superior to Teva's.

 

[anonymous]

Ya, this is bad. Major layoffs are coming. If you have been in this business long enough you can see the signs. A drug that did not get approved and now have a whole sales division in limbo. Another division selling a drug barely profitable. The your austedo sales division being suffocated by too many people selling austedo. Now the company directive is don't worry about detailing prescribers, just call every single office and gather contact info by the end of july? Ya, teva is about to have big lay offs. There is not a single indicator at the moment saying we will not have a massive layoff. I agree with the other guy. Better start looking. I would expect uzedy to get hit the hardest, then NS. NP will probably not get gutted too badly, but expect 60-75% of the sales divisions to get cut

What a joke! The Uzedy people are superior to the NP group. Why do you think they kept us? We can clearly see that the NP and NS groups are scared. We know that you don't work. You are a primary force that haven't even reached 1B. NH is here to stay. We aren't leaving our 150 base.

 

[anonymous]

150 base? You’re either full of shit or incredibly stupid. If you’re really getting that, you will be the first one out the door. Teva gets rid of high base salaries, tenured or not, on an annual basis. So I hope you enjoyed your 6-9 months of crazy salary for doing virtually nothing, it’s not going to last

 

[anonymous]

What a joke! The Uzedy people are superior to the NP group. Why do you think they kept us? We can clearly see that the NP and NS groups are scared. We know that you don't work. You are a primary force that haven't even reached 1B. NH is here to stay. We aren't leaving our 150 base.

You were kept because of the agreement with medincell. You are the LAI division dummy. Your future is tied to 2 lai drugs. Izedy and the other in March. Now, if uzedy is not approved or teva feels the drug will not get approved, that means teva is breaking off relations with Medincell. It's not that you guys are superior, it's that teva and medincell are figuring out what to do with you guys. Lol! You are so full of it