What is the real story?

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anonymous

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The last time I was on a Cafepharma message board, was when I worked at BMS. Not that I expect a lot of positive comments from anyone on this site, but seriously what is going on? BMS was always a great place to be a rep. I was displaced during an Orencia restructuring and was not even that upset. I understood it was the right thing for the business, my severance package was sweet and I was picked up by another company quickly. However, relatively speaking, I have a ton of BMY stock. It has done so well for so many years I have not paid much attention to it. I have just waited every quarter for the dividend check to role in. The pipeline page of the website makes everything look good, is it smoke and mirrors? Why has the stock price taken such a huge hit?
 




anonymous said:
The last time I was on a Cafepharma message board, was when I worked at BMS. Not that I expect a lot of positive comments from anyone on this site, but seriously what is going on? BMS was always a great place to be a rep. I was displaced during an Orencia restructuring and was not even that upset. I understood it was the right thing for the business, my severance package was sweet and I was picked up by another company quickly. However, relatively speaking, I have a ton of BMY stock. It has done so well for so many years I have not paid much attention to it. I have just waited every quarter for the dividend check to role in. The pipeline page of the website makes everything look good, is it smoke and mirrors? Why has the stock price taken such a huge hit?
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Nepotism. Lack of subject matter experts in decision making positions. Liars. Office politics as the end in it itself. HR nightmares in leadership positions. Exec Directors giving new positions to their friends and office crushes - positions where they are not only incapable of being successful, but also actively causing harm. Mckinsey. Cannot stress enough how Mckinsey screwed the pooch.
 




anonymous said:
I have a ton of BMY stock. It has done so well for so many years I have not paid much attention to it.
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What? I've had BMY stock for over a decade. It has NOT done so well for so many years. It got up past $70 18 months ago when I sold some, but should have sold more. I saw that Giovanni was selling bucketloads, it's publicly reported, and I should have dumped everything as well.
 












Complete incompetence in the launch of desperately needed new drug, bms desperately needed a whole new slew of drugs to replace the outdated ones.

hired on paper “rock stars” from Novartis/galderma who were lazy entitled narcissists, bad back stabbing people, who brought in equally lazy useless managers and reps, not hired based on merit, skills, hard work. They also created bogus positions like dals. Leadership messed up and is to blame for bringing these people in here. The overall bad marketing strategy for the drug was consistent with poor leadership decisions on hiring.

Over two years time, leadership removed three of the culprits from Novartis/galderma with Andy Rodman being the most recent, but it’s too little too late. You have all the poison seeds in management and the sales force left behind by Rodman and the others, continuing on with incompetence and now hating on leadership for removing their buddy who brought them in here. They are so narcissistic and lacking in self awareness they are “shocked” Rodman was removed.

The result is a corrupt culture dominated by back stabbers with no loyalty to anyone but their insular mafia

Throw in a strong element of a old white boys network mentality, with tons of sexism and racism, and you’ve got quite a mess on your hands.

Sad to see the deterioration.
 




A back stabbing culture of hate. We all at bms needed sotyktu to be a successful launch. If bms had successfully launched it and other new drugs we’d be fine long term, and short term the stock value would be quite good.

it astounds me how many reps and managers in other divisions have rooted for the failure of the launch, taking glee in the struggle, because they are envious over the higher salaries paid to those in derm. So foolish as the failure of sotyktu means failure for all of us

as the Bible says, a house divided cannot stand. Our house is badly divided, with division against division, managers turning on each other, and hating on leadership. Things have gone down hill so fast here, it’s hard to keep up with it!
 




anonymous said:
What? I've had BMY stock for over a decade. It has NOT done so well for so many years. It got up past $70 18 months ago when I sold some, but should have sold more. I saw that Giovanni was selling bucketloads, it's publicly reported, and I should have dumped everything as well.
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Long term dividends vs growth. So long as I get the dividends, I consider that doing well.
 




anonymous said:
Nepotism. Lack of subject matter experts in decision making positions. Liars. Office politics as the end in it itself. HR nightmares in leadership positions. Exec Directors giving new positions to their friends and office crushes - positions where they are not only incapable of being successful, but also actively causing harm. Mckinsey. Cannot stress enough how Mckinsey screwed the pooch.
Click to expand...

This very succinctly sums up the najor issues at play in the sinking BMS ship.....the leadership failures are endless over a short 18 month period of time.

Some say "it can only go up from here" but I question "how much worse can it still get".
 




Clinical Development is slower than a Sloth. Instead of reducing budgets and going to other countries, accelerate development of drugs that are getting old. Americans in every field are turning themselves into fools and letting every other country go ahead. Keep American jobs.
 




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