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 "
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 .
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.
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
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
High quality managers and scientists have left. Others hang around. The replacements will be low cost, likely on working visas staying temporarily. No commitment, just to pickup some information for interviewing elsewhere.
Top management needs to be replaced, followed by incompetent middle level.
The top managers have been useless preoccupied with how to protect their positions and at the same time minimizing their responsibilities. They could not manage the parts of organization they were put in charge of.
But watch who will be coming. Roche-Genentech buddies or transition opportunists including international travelers. The CEO to be watched.
new ceo is interviewing existing vice-presidents to see who would stay and who has to go. This is under pretext to introduce himself and know them better. Considerations for external candidates are already in place.
Would be nice to be big pharma, but with ultrarare diseases no way.
Alex H. has already a list of persons in upper management to be replaced. Will bring in some from Genentech. Not good for the company since there they do what Roche tells them to do. No experience in independent drug discovery, development and bringing to market.
They will take positions and start replacing us with people from Genentech.
Check whether your superior is on this replacement list. If she goes, you will go.
Stock went up since investors realized what new ceo would.
He will fire people at all levels, close the plants, manufacture using cmo, reorganize research with more work by cro, sell the irelend operations, all to improve the company bottom line.
New CEO:
He did not accomplish a lot at Genentevh, other than closing manufacturing facilities.
This may be anticipated at Biomarin as well with letting many people go. He will bring people from Genetech and will get rid of people who were hired from other companies like Merck, Amgen and other. This may also affect operations in Ireland that lack competence. Since improving pipeline cannot be done, he will act quickly by letting people go to improve the bottom line. Would also replace ineffective research team.
Many changes coming soon.
The CEO is out. Marketing approach did not work
New CEO from Roche-Genentech. Roche is a mediocre company
Could he save the company?
Company cannot become a target for acquisition and it will take time to build up any good pipeline.
House cleaning and getting rid of dead wood would happen soon.
Run.
Can hire someone from big pharma who spent years in dead water in puerto rico learning nothing, to make him a big shot to change the organization regardless his limited experience and capacity. Stuffing ranks with his look alikes
