Shire deal is official!

[Anonymous]

Now what?

 

[Anonymous]

Flemming (shire ceo) will become the ceo of the merged company. HQ will move to Lexington MA.

 

[Anonymous]

Now what?

You lose your job....slash and burn philosophy between competing senior management...profits rise / jobs lost / people leave...

Sounds like a great deal (for the big boys). The rest of us just need to "don't stop believing - and don't let the door hit us on the arse on the way out".

 

[Anonymous]

It is not a good thing for AbbVie employees, that is for sure. Unless you are retirement eligible.
Take a look at what Microsoft announced yesterday as a result of their recent merger:
14 THOUSAND jobs to be cut from Microsoft, and that's just the beginning.
These merger deals ALWAYS result in huge headcount reductions, primarily in the acquiring company. The acquired company, usually has a protection clause for a period of time covering their people (ie Solvay when bought by AbbVie)

Buckle up, its going to be a rough and very unpleasant ride for many of us.
If it makes you feel better, I am vested under AbbVies retirement plan. Bring out the sev package! LOL!!

 

[Anonymous]

It is not a good thing for AbbVie employees, that is for sure. Unless you are retirement eligible.
Take a look at what Microsoft announced yesterday as a result of their recent merger:
14 THOUSAND jobs to be cut from Microsoft, and that's just the beginning.
These merger deals ALWAYS result in huge headcount reductions, primarily in the acquiring company. The acquired company, usually has a protection clause for a period of time covering their people (ie Solvay when bought by AbbVie)

Buckle up, its going to be a rough and very unpleasant ride for many of us.
If it makes you feel better, I am vested under AbbVies retirement plan. Bring out the sev package! LOL!!

Yup. And degree less "lie on my resume" Ricky makes out like a bandit.

 

[Anonymous]

Shire is a mid sized specialty pharma company with decent upside. Here is the breakdown on their divisions:

Behavioral Health/ Neuro-Psych - 350 Reps
This divisions drives most of Shire's revenue. Vyvanse does not go generic till 2023.
- Vyvanse (adult/ ped ADHD)
- Adderall xr 3 (adult ADHD)

GI -100 Reps
Smaller division that has been cut back over the years
- Lialda (Ulcerative colitis)

Rare Disease - 60 Reps
Shire purchased ViroPharma last year and currently promotes 4 drugs in this category. They also have a few things in the pipeline. This is also a pretty profitable segment of Shire.

Ophthalmology - 0 reps
This division is in the pipeline with a couple of drugs coming to maket in the next year. They will be launching a new med for chronic dry eyes and will also promote a drug for a rare condition involving pediatriac blindness.

 

[Anonymous]

Now what?

Put your house up for sale and start packing your bags for Europe.....

 

[Anonymous]

It is not a good thing for AbbVie employees, that is for sure. Unless you are retirement eligible.
Take a look at what Microsoft announced yesterday as a result of their recent merger:
14 THOUSAND jobs to be cut from Microsoft, and that's just the beginning.
These merger deals ALWAYS result in huge headcount reductions, primarily in the acquiring company. The acquired company, usually has a protection clause for a period of time covering their people (ie Solvay when bought by AbbVie)

Buckle up, its going to be a rough and very unpleasant ride for many of us.
If it makes you feel better, I am vested under AbbVies retirement plan. Bring out the sev package! LOL!!

Would not be surprised to see massive Abbvie cuts across the board long before the end of this year.
It doesn't matter what area we work in, ie sales, they will be looking to reduce overall bodies and costs everywhere. No relocations. Basic lean and mean steps to help cover bottom line. The chances of any significant offsets with Shire sales headcount increases has got to be close to zero. I am prepared for the worst, although not fortunate enough to be vested in retirement. Perfect catalyst to start fully utilizing the new model of very sparse "sales" teams.

 

[Anonymous]

What you will see will be big changes in benefits, less advancement opportunities, and lay offs. Pensions will go away as we know them today and future retires will not have the same medical benefits as pervious retires, can you say Obamacare? If you can retire today, and the plan will not change until it is official, I would do it. I am because I can. It might make it a little tight until I am 59 1/2, to access my 401k, but I can't afford to wait. Abbvie has done nothing but take things away from me from the time of the spin off. Working for this company, or even the new one, just isn't worth ruining my life, family, and health. There's more to life than this company. Mark my words, if you stay on with this company, you will have less in the future than what you have today.

 

[Anonymous]

Great news. We have bought a pipeline and some products that our scientists and commercial folks couldn't develop on their own. Now let's get some consolidations and get the stock price back over $60.

 

[Anonymous]

Great news. We have bought a pipeline and some products that our scientists and commercial folks couldn't develop on their own. Now let's get some consolidations and get the stock price back over $60.

TEAM on three.... One, Two, Three........... "TEAM"!!!!!!

 

[Anonymous]

Great news yippee. Time to look for redundancies and wipe out the inept or the huddling masses. Let's slash some benefits too. Go and get them and push the stock over 60 and upwards.

 

[Anonymous]

Shire is a mid sized specialty pharma company with decent upside. Here is the breakdown on their divisions:

Behavioral Health/ Neuro-Psych - 350 Reps
This divisions drives most of Shire's revenue. Vyvanse does not go generic till 2023.
- Vyvanse (adult/ ped ADHD)
- Adderall xr 3 (adult ADHD)

GI -100 Reps
Smaller division that has been cut back over the years
- Lialda (Ulcerative colitis)

Rare Disease - 60 Reps
Shire purchased ViroPharma last year and currently promotes 4 drugs in this category. They also have a few things in the pipeline. This is also a pretty profitable segment of Shire.

Ophthalmology - 0 reps
This division is in the pipeline with a couple of drugs coming to maket in the next year. They will be launching a new med for chronic dry eyes and will also promote a drug for a rare condition involving pediatriac blindness.

Very interesting facts but who gives a shit? Shire will be in the catbird seat. Abbvie will be ground down to bare bones with huge layoffs ("consolidations") and benefit cuts for those
who are left. Its all about the bottom line and making a good impression on stockholders.
Anyone who doesn't see this is a fool. Party line at first will be very positive to employees while they get their ducks lined up. Then hunting time will begin and Abbvie folks are in season.

 

[Anonymous]

You seemed misinformed.

The only sales force at Abbvie which is heavy on reps, is our primary care sales force. Those folks have known for a while to be on the “lookout” for new jobs. With that being said, Abbvie has a history of taking care of its people, and placing them in new jobs, specifically when faced with downsizing a specific sales force. Also, Abbvie’s history shows it does not get rid of representatives from companies they have acquired, as evidenced by our Solvay sales force.

As for the rest of Abbvie’s sales force. We work under a “lean” model. We have less than 400 total Humira representatives, which generate about 7 billion dollars in business a year.

According to this post, Shire has a little over 500 representatives in the entire company, which generate slightly over 500 million dollars a year, across all Shire products.

So stop speculating. It doesn’t seem likely either Abbvie or Shire’s sales forces will be downsized, due to the merger.

 

[Anonymous]

You seemed misinformed.

The only sales force at Abbvie which is heavy on reps, is our primary care sales force. Those folks have known for a while to be on the “lookout” for new jobs. With that being said, Abbvie has a history of taking care of its people, and placing them in new jobs, specifically when faced with downsizing a specific sales force. Also, Abbvie’s history shows it does not get rid of representatives from companies they have acquired, as evidenced by our Solvay sales force.

As for the rest of Abbvie’s sales force. We work under a “lean” model. We have less than 400 total Humira representatives, which generate about 7 billion dollars in business a year.

According to this post, Shire has a little over 500 representatives in the entire company, which generate slightly over 500 million dollars a year, across all Shire products.

So stop speculating. It doesn’t seem likely either Abbvie or Shire’s sales forces will be downsized, due to the merger.

You do not have a clue. I have been through two mergers and with EVERY SINGLE ONE, reps have been cut. You can bet on it. Just hope it is not you.

 

[Anonymous]

You do not have a clue. I have been through two mergers and with EVERY SINGLE ONE, reps have been cut. You can bet on it. Just hope it is not you.

I'm good dude....not even a little worried about job security. I've been in this industry for over 20 years and have never been laid off.

Become invaluable

 

[Anonymous]

I'm good dude....not even a little worried about job security. I've been in this industry for over 20 years and have never been laid off.

Become invaluable

If you are personal buds with Little Ricky, you might be safe. Otherwise beware. These huge deals ALWAYS result in massive cuts. You think Humira needs 4 reps per territory calling on a total of 15 viable writers? You don't think docs find this constant nagging to be annoying? You don't think that every pharma employee including the janitors know that this shit has to be curtailed? This kind of major merger tide change will bring all that ridiculous overlap to the forefront. You think specialty is truly special in the eyes of a mega billion dollar conglomerate with the major access and healthcare challenges in the USA?
Its all about cost cost and cost amongst similar treatments in a particular disease state. There is no "primary care" per se at AbbVie anymore. Every franchise has a make believe specialty title.
Wake the hell up man. If you are counting on these pretend sales jobs for the long haul, you are out of luck.
Metabolics is a perfect example. Me, I'm getting the hell out of Dodge and taking my locked in retirement benefit while it still exists.

 

[Anonymous]

Do you guys have anything in the pipeline to replace Humira revenue?

 

[Anonymous]

What you will see will be big changes in benefits, less advancement opportunities, and lay offs. Pensions will go away as we know them today and future retires will not have the same medical benefits as pervious retires, can you say Obamacare? If you can retire today, and the plan will not change until it is official, I would do it. I am because I can. It might make it a little tight until I am 59 1/2, to access my 401k, but I can't afford to wait. Abbvie has done nothing but take things away from me from the time of the spin off. Working for this company, or even the new one, just isn't worth ruining my life, family, and health. There's more to life than this company. Mark my words, if you stay on with this company, you will have less in the future than what you have today.

This rings true. If your vested and can retire you may want to get out fast. Once the buyout is done everything may change and you could lose all the benefits that you have earned. Just checkout what happened to the folks at Hospira.

 

[Anonymous]

You seemed misinformed.

The only sales force at Abbvie which is heavy on reps, is our primary care sales force. Those folks have known for a while to be on the “lookout” for new jobs. With that being said, Abbvie has a history of taking care of its people, and placing them in new jobs, specifically when faced with downsizing a specific sales force. Also, Abbvie’s history shows it does not get rid of representatives from companies they have acquired, as evidenced by our Solvay sales force.

As for the rest of Abbvie’s sales force. We work under a “lean” model. We have less than 400 total Humira representatives, which generate about 7 billion dollars in business a year.

According to this post, Shire has a little over 500 representatives in the entire company, which generate slightly over 500 million dollars a year, across all Shire products.

So stop speculating. It doesn’t seem likely either Abbvie or Shire’s sales forces will be downsized, due to the merger.

Much more to a company than a sales force...