Company Monitoring Page for Biomarin

job ratings (see below graph) for Biomarin

job ratings for Biomarin

10/04/24
industry:
company:
Biomarin
job rating:
2
Stock went down like a rock. Now the traders are pumping it up again. Company has been used like this for decades,: "Pump and dump" scheme. Now upswing means another contraction and layoff coming. Reorg by combining departments, for example preformulation and formulation, like some companies have done already. Same with analytical services.
08/29/24
industry:
company:
Biomarin
job rating:
1
Another layoff was announced. This time 225 people. CEO keeps busy to make a company an appealing target for M&A. We should worry when a next layoff might occur. Goal is selling a skeleton. There is too much unnecessary and nonproductive weight. For example, such departments like Technical Development should go. There is a lack of understanding there what technical development is and what it should do, and the company current plans may have it as a burden, rather than an asset in any M&A process.
08/20/24
industry:
company:
Biomarin
job rating:
3
Recent layoff pushed many productive people out, but mediocre and connected are still with the company, for example, those doing standard low level analytical procedures that could easily be outsourced. Worse, some newcomers used the reorganization to dismantle organization structures and bring their own cronies in. Those newcomers could not match the quality of people who were pushed out 2 years ago, since they were failures in their earlier careers for years doing marginal work in well known biotechnology companies, such like Amgen or Merck. They would never hire people better than themselves. A downward spiral.
08/05/24
industry:
company:
Biomarin
job rating:
2
TD does not understand technical development
07/19/24
industry:
company:
Biomarin
job rating:
3
More layoffs coming to make the company more attractive for takeover. After takeover more layoffs, of course.
06/25/24
industry:
company:
Biomarin
job rating:
1
Layoff: 162 positions affected in No California. No Irish positions listed. Check who in HR is leading this process.
06/16/24
industry:
company:
Biomarin
job rating:
2
Layoff of 170 Make sure you understand the benefits offer. Unless you already have another better job. Ask for a list of these 170. And who is processing the event. Do not get impressed by lowly HR supposedly helping you. They help the company to fool you. These are general things on layoffs. Knowing more details could be helpful
05/31/24
industry:
company:
Biomarin
job rating:
1
lay off the Irish.
05/25/24
industry:
company:
Biomarin
job rating:
2
Bayer shows the way: https://www.biospace.com/article/bayer-eliminates-nearly-half-its-executive-positions-in-major-overhaul/ There are many vice-presidents and directors at Biomarin, who just go to the meetings and avoid real responsibilities. These should be pruned, not the lower level people who do the work. Check the next layoff list.
05/20/24
industry:
company:
Biomarin
job rating:
1
New CEO is working the stock price down. Good news will be coming after stock drops below 70. His ex-parent company could be interested in M&A step. Will be still much less to pay than at $100 per share. Good job, CEO. And there will be laypoffs for better bottom line. CEO got good experience in this at Genentech.
05/16/24
industry:
company:
Biomarin
job rating:
1
The stock dropped 4.27% today after the yesterday announcement of 170 person layoff. This demonstrates lack of investors confidence in the company management. The company must reshuffle the top management ranks to convince investors that positive changes are coming. Example can be recent cutting off several R&D projects - clearly telling investors that company was pursuing wrong goals. Who was responsible? Layoffs should proceed across the whole organization.
05/15/24
industry:
company:
Biomarin
job rating:
1
Today the company announced laying off 170 employees. This was predictable and earlier posts indicated such possibility. Beware, this is the first round. More would come. Possibly you were told that your team would not be affected and then you suddenly learned about being on the list. This is the dreadful management style here, keeping you in the dark and throwing under the bus. Time that this should happen to such management as well. Let's consider proposing names in this forum of the worst managers who should be gone asap. Btw is brinda staying or going? Or g and g? or h? You know who.
05/02/24
industry:
company:
Biomarin
job rating:
2
BioMarin said it’s wrapped up a pipeline review and will stop investing in four experimental therapies because they don’t meet its threshold for patient impact and commercial opportunity. Two of the discontinued programs, BMN 355 for long-QT syndrome and BMN 365 for PKP2 arrhythmogenic cardiomyopathy, hadn’t yet been tested in humans. The other two, BMN 331 for hereditary angioedema and BMN 255 for a certain kind of liver disease, were in early stages of clinical testing, according to a BioMarin presentation for investors in September. BioMarin said its full pipeline will be subject to “ongoing assessment.” At the same time the investment community considers Roctavian as a commercial flop. All this indicates restructuring that will negatively affect large number of employees, as well as long term investment community. Prospects for being acquired could also diminish.
04/17/24
industry:
company:
Biomarin
job rating:
3
Is Biomarin a candidate for takeover? The attractiveness of a company as an acquisition candidate depends on various factors beyond just its financial metrics. To provide a rough estimate, let's assume a P/E ratio of 65 and a market capitalization is ﹩17 billion. To calculate the annual net profit that would make the company attractive, we can use the formula: Market Capitalization = P/E Ratio * Net Profit Rearranging the formula, we get: Net Profit = Market Capitalization / P/E Ratio Using the given values: Net Profit = ﹩17 billion / 65 Net Profit ≈ ﹩261.54 million To make the company an attractive candidate for takeover with a market capitalization of ﹩17 billion, a P/E ratio of 65, and sales of ﹩2 billion per year, it would need to generate an annual net profit of approximately ﹩261.54 million. How could it get there in 2024? Expect layoffs.
03/06/24
industry:
company:
Biomarin
job rating:
2
The earlier entry describes the current chaotic and dangerous environment people have to cope with. Some of this have been present in company operations before, but the recent CEO departure and change at the top exacerbated all the ills and added many new ones. Top management tries outdo each other in throwing others under the bus. This behavior has however migrated to lower levels making life difficult for everyone. From bad to worse. This is the earlier entry: "It's been miserable here for the last 3 years. Anyone that does actual work has been slowly laid off. Management and the majority left are more focused on power points to upper management because their worried about their jobs, while those that do actual work are left struggling with less headcount to get double the work done. Everyone is just waiting till the ax falls. Which instills a culture of fear, so nothing is being advanced. Your point person is there one day and silently gone the next, without any communication by management on who is now taking over their responsibilities. So weeks are lost, as people scramble to find someone to do the work. "Big picture" projects that would give the company long term flexibility are shot down. Management does not have your back, because they are worried about their jobs as well. I have never worked in a place with such blame culture in my entire career. It's never "let's fix this" it's "who's fault is this". There's no cross functional communication . No one knows what other depts are doing. Some depts are running the same projects unbeknownst to each other. Upper management are in fighting and busy throwing each other under the bus, which makes working almost impossible, since you spend the majority of your day in conflict and strife "
02/26/24
industry:
company:
Biomarin
job rating:
2
It's been miserable here for the last 3 years. Anyone that does actual work has been slowly laid off. Management and the majority left are more focused on power points to upper management because their worried about their jobs, while those that do actual work are left struggling with less headcount to get double the work done. Everyone is just waiting till the ax falls. Which instills a culture of fear, so nothing is being advanced. Your point person is there one day and silently gone the next, without any communication by management on who is now taking over their responsibilities. So weeks are lost, as people scramble to find someone to do the work. "Big picture" projects that would give the company long term flexibility are shot down. Management does not have your back, because they are worried about their jobs as well. I have never worked in a place with such blame culture in my entire career. It's never "let's fix this" it's "who's fault is this". There's no cross functional communication . No one knows what other depts are doing. Some depts are running the same projects unbeknownst to each other. Upper management are in fighting and busy throwing each other under the bus, which makes working almost impossible, since you spend the majority of your day in conflict and strife .
02/25/24
industry:
company:
Biomarin
job rating:
1
We all wonder how the new CEO would shape the company. Would he sweep out the incompetent, or internally networked? Who would be the replacements? Roche and Genentech people with experience mismatch? Some candidates may be attracted by location coming from some dull, backwater places. However, internal management changes are needed. Very good candidates cannot be attracted considering future product portfolio prospects. Therefore, a new team may be as inefficient as the old one. All under the excuse of working on ultrarare diseases. Really rare, like the 3 hemophilia patients so far. The Gates Foundation is more appropriate to work on such scale projects.
02/19/24
industry:
company:
Biomarin
job rating:
1
Bad managers, poor experts. Worse if both in one person, for example g v
01/31/24
industry:
company:
Biomarin
job rating:
2
Analogy: Like in Kite Biomarin called Roche to send the cavalry to rescue the company. As in Kite it is being done by headcount reduction. Jeff A is a prominent example. Some executive and senior vice-presidents would go soon since they do not contribute but interfere by looking busy. Stock market is not impressed. Rarely companies ask the capable people who already left to return and help rebuild. Rather we may expect people streaming from Genentech and Roche following the CEO. However, they do not have right experience to match the Biomarin niche. Contraction expected, possibly 15% reduction in workforce
01/19/24
industry:
company:
Biomarin
job rating:
1
Temporarily enlarged Board of Directors? The temporary ones are experienced in M&A process. Plus new CEO with Roche connection. Due to ongoing layoffs in pharma and biotech expect the layoff to prepare ground for M&A. Obvious candidate to take over is Roche. But there were such rumors in the past and stock peaked at 126 so some bmrn insiders could sell it and make a fortune. Current rumor might be more real. Roche has a trojan horse placed in the company. In any way it looks like a preparation for M&A. Who will be a taker? Some analysts show market price at 80-85, others at around 100. No one is talking 120-130 anymore. Not good for bmrn insiders hoping to make it big, unless they have tons of stock. Portfolio and pipeline look modest. For workforce this is uncertain time. The best have already left. New candidates may come from CMO organizations of dubious quality

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