Will things really change?

[Anonymous]

When WP bought B+L everyone thought things would change. In reality nothing changed. Very few layoffs, no real reorganization, and WP kept most of the mid-upper and mid management intact. B+L spent lots of money to hire people and did little to cut costs. Duplications occur at the so many B+L facilities that were acquired over the years and not one facility that was acquired was closed and consolidated into another.

Valeant has stated at the get go that they will squeeze 800 million out of costs. Certainly since nothing has been done in the last 5 years to cut costs this is probably doable on paper. However, why does Valeant think it can achieve these cuts when a Private equity firm that had B+L for five years could not? There is something inherently in the B+L culture, management, industry requirements, regulatory requirements etc. that prevented WP from cutting costs. Valeant talks tough but I predict that just like WP B+L will look very much the same as when they took it over from WP which will look very similar to the B+L of 5 years ago.

Good luck Valeant. Those in the know- knowthat B+L can not change. If WP could not change it as a Private Equity firm you will not change it as a private company. B+L runs you. You do not run B+L.

 

[Anonymous]

You are probably right. Valeant has already indicated that it is keeping some of the top management at B+L. This means no culture change and more of the same.

 

[Anonymous]

You are probably right. Valeant has already indicated that it is keeping some of the top management at B+L. This means no culture change and more of the same.

If you really think Valeant will not change anything, you need to read all the posts about Valeant. You are living in a dream world.

 

[Anonymous]

If you really think Valeant will not change anything, you need to read all the posts about Valeant. You are living in a dream world.

If you really think Valeant can change B+L, you need to read all the posts about B+L. You are living in a dream world.

 

[Anonymous]

Valeant wants your products...they don't want you. Yes they will keep some of you around for a while and then when they buy their next victim...you will be gone. If you aren't Mckinsey, no way you will be staying in top management. The same things they said to Medicis is the same they are saying to you. Good luck folks and yes things will change

 

[Anonymous]

If you really think Valeant can change B+L, you need to read all the posts about B+L. You are living in a dream world.

Sorry, but you are the dreamers. What makes you think B&L can't be changed? You don't think laying off 50%+ of manufacturing and 75%+ of support staff will change B&L? That's what's coming. And if you think, for one femptosecond, that Valeant isn't twice as cold and indifferent as your average PE firm, your awakening will be sudden, cruel, and painful.

Valeant will not acquire B&L and "try to change it". They will simply slash the headcount on day one, kill the R&D pipeline over the next month, jack up the prices on all products, cut sales force, raise sales goals, and lower base pay and bonus (sales). Look at Dow, Biovail, Orapharma, Medicis, Obagi, etc. Same drill everywhere, and B&L is next.

Good luck to you all; but this is the Valeant model, and it won't change. Be prepared.

 

[Anonymous]

You are probably right. Valeant has already indicated that it is keeping some of the top management at B+L. This means no culture change and more of the same.

It will be interesting to see if the B &L executives can hang with the Valeant bozos. If the B & L senior level people that are responsible for the day to day (Regulatory Affairs, Quality Assurance, R&D etc…) are even remotely qualified to be in pharmaceuticals they will not last unless they are will to sell their ethics.

I can’t speak for sales, but from an operational standpoint they will have to change their ways as it relates to basic pharmaceutical business and regulatory expectations. Their new goal will be to meet Mike’s numbers regardless of whether it complies with ensuring adequate personnel that are trained and qualified. Those from Medicis that lasted for a little while (less than 6 months) figured this out when they realized they had no authority to challenge the numbers; and when they had to say out loud to their staff why this is the right thing; they couldn’t and resigned.

New management will be required to assimilate to the culture of the bumbling New Jersey yokels, which consist of back stabbing, gossip mongering, and sophomoric actions that generally are attributed to young adolescent girls. In addition, trust all of us that are posting, Valeant senior management are mindless, gutless puppets. They acquiesce to Mike and his Mckinsey recommended demands and are only concerned about themselves, their title, and their egos.

 

[Anonymous]

I guess I will believe it when I see it that Valeant is going layoff and change the management of B+L. However, it is time to at least get my resume out to see if I can find something that is at least on the surface a little more stable. What these posts say is that a job at B+L is subject to at least a 50% chance of a layoff regardless of who you are or your job performance and a 80% chance of a reduced level of job satisfaction with about a 95% chance at stagnant income or less.

Wish me luck. I hope I do not have to move away from Rochester.

 

[Anonymous]

the difference between WP and Valeant is that valeant is a pharma conglomerate. They have redundancy in multiple operation points. They already have marketing, regulatory, manufacturing ect. WP couldn't cut head count because they didn't have that infrastructure. Valeant does. That is why you will see a change at B&L. B&L is over. This is a buy out. Valeant owns the products now. Don't need a B&L anymore. Maybe just the brand name. When Pfizer buys a company they re work the packages with their name. Will be interesting if Valeant even keeps the B&L name on the boxes.

 

[Anonymous]

Local politicians and NY politicians are putting themselves into the ring. Unfortunately Valeant will ignore them and pulverize Rochester and the community to pump up their stock price. Maybe they will just pack up everything and move it all to Canada.