The image part, on surface all looks great, including token DEI images of happy workforce. Inside there is nationalism, collusion with own government, cronyism and even discrimination. Boasting wealth and comparing to budget of own government happened. Reason to work together. Many managers have come from local industries or government branches with no experience in biopharma. Too many managers, often covering narrow or artificial divisions. Poor collaboration with overseas operations. Superficial push towards modernization and giving this great publicity. Often can beat competition since apparently they are even in a worse shape. With oversized workforce company can play social public relations game offering employees long family leave benefits. This is possible since there are no serious domestic competitors and government tolerates and likes such monopoly if it keeps part of population happy. Often making wrong decisions in M&A or collaborations that come from excessive profits and available funding.
Gilead has one of the highest revenues per employee, so it can afford mismanagement, bad strategies, dei, Kite drag, and other wasteful policies. Who pays for this? Patients, taxpayers and all thru insurance premiums.
Roche feels Genentech is like a cancer on a body of Roche. Outlived its usefulness and is going by inertia. Many opportunists hang around and look busy. This is natural feed for toxic work environment. Next year Roche will make some move in this regard.
Stock volatility reflect the chaotic management style. The short term or daily investors welcome this since they can experience stock price changes within a few percent almost every day. As in old saying, chaos can provide opportunity.
Good performers after being hired are formed using the Roche mold and after a few years they become average or worse.
They will take this new normal with them when they change employment.
Ills of foundations combined with unexpected success.
Filling illusionary positions around foundation main location and at the same time experiencing manufacturing problems.
