Cephalon was never an Oncology Company. They recruited some decent Oncology reps but couldn't really attract the best ones from the better biotechs because they paid less salary and offered no stock options. Even those Oncology reps who just have big-pharma Oncology experience are leaving....
These CNS and pain reps view the Oncology positions as promotions. The company is doing a good thing by saving their jobs while at the same time allowing seasoned Oncology reps to leave. A lot of us have been in the Oncology business for many years and have never seen anything like this.. Close to 30 Oncology reps have left....amazing! There will be more over the next 16 months. A lot of existing reps find themselves in areas where ex-Genetech managers have new positions and are hiring their own. This will settle down eventually, there will be new opportunities and more will leave.
The new people coming in(CNS,Pain) will realize their salaries in Oncology will be the lowest in the industry. The ability to make excellent bonus is also severely impaired due to the MBO situation and in a couple of years they will be out on the market contributing to the expensive turn over situation at Cephalon/Teva. The market place will offer opportunity in the next couple of years - even the big pharma Oncology opportunities will offer better money than Cephalon because the newbies will be so far behind the eight ball with those CNS/Pain salaries. Cephalon won't be able to make up the difference fast enough. Incyte is paying experienced reps bases in the $130-$145 range this does not include bonus and options.
Employees should have been offered retention bonuses to stay and compliance should have been directed where the real problem started which was in the other divisions. You can't control Oncologists and their prescribing habits, they are trying to extend and save lives and will combine, subtract etc... in order to find the best result. This sales force has not been selling "off label"......These surveys are flawed and are just a mechanism by which to show the government Cephalon is playing ball and upper management's stock option payouts are protected. Good luck to you and your families.....you are just disposable pawns in this game....
These CNS and pain reps view the Oncology positions as promotions. The company is doing a good thing by saving their jobs while at the same time allowing seasoned Oncology reps to leave. A lot of us have been in the Oncology business for many years and have never seen anything like this.. Close to 30 Oncology reps have left....amazing! There will be more over the next 16 months. A lot of existing reps find themselves in areas where ex-Genetech managers have new positions and are hiring their own. This will settle down eventually, there will be new opportunities and more will leave.
The new people coming in(CNS,Pain) will realize their salaries in Oncology will be the lowest in the industry. The ability to make excellent bonus is also severely impaired due to the MBO situation and in a couple of years they will be out on the market contributing to the expensive turn over situation at Cephalon/Teva. The market place will offer opportunity in the next couple of years - even the big pharma Oncology opportunities will offer better money than Cephalon because the newbies will be so far behind the eight ball with those CNS/Pain salaries. Cephalon won't be able to make up the difference fast enough. Incyte is paying experienced reps bases in the $130-$145 range this does not include bonus and options.
Employees should have been offered retention bonuses to stay and compliance should have been directed where the real problem started which was in the other divisions. You can't control Oncologists and their prescribing habits, they are trying to extend and save lives and will combine, subtract etc... in order to find the best result. This sales force has not been selling "off label"......These surveys are flawed and are just a mechanism by which to show the government Cephalon is playing ball and upper management's stock option payouts are protected. Good luck to you and your families.....you are just disposable pawns in this game....