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Post by itellthefuture777 on Oct 26, 2017 9:47:22 GMT -5
You left out that he was talking directly to Merck sales laid off..with the Merck sign in the Linkedin comment he made..WOW! Merck...handing all the sales reps over to Mannkind...
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Post by itellthefuture777 on Oct 26, 2017 9:56:24 GMT -5
Sanofi..isn't liking this...and might act aggressively..or..be left behind...We all know how she acts when someone is going to take their food dish away..
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Post by mnholdem on Oct 26, 2017 10:00:45 GMT -5
In a nationwide shakeup, Merck & Co. plans to cut 1,800 U.S. staffers as it jettisons three of its sales teams and launches a new chronic care salesforce. "These changes are part of ongoing companywide efforts to sharpen Merck’s focus on innovative R&D that addresses significant unmet medical needs and on our best opportunities for growth, while reducing overall costs," spokesperson Claire Gillespie said via email.
Gillespie cited the "ebb and flow" of the pharma industry as the reason Merck needs to undertake the cuts and create the new team. Merck plans to staff up to 960 on its new chronic care force. Employees who lose their jobs can apply for positions there, or apply for other posts elsewhere in the company, Gillespie said.
Those who don't opt in for new positions will receive a "comprehensive separation package" that includes pay, benefits and more; the layoffs will take effect January 2. No jobs are moving outside of the U.S. Merck didn't specify which teams it's cutting.
Source: www.fiercepharma.com/pharma/citing-ebb-and-flow-pharma-merck-says-it-s-cutting-1-800-sales-staffers
RELATED:
Under mounting pressure in diabetes, Eli Lilly has just become the latest drugmaker to undergo a major shakeup. The pharma giant on Thursday announced plans to cut 3,500 employees by the end of the year as it shoots to achieve $500 million in annual savings.
The company said it expects most of the cuts to come from an early retirement program in the U.S. in which participants will receive “enhanced retirement benefits.” Lilly disclosed the program to eligible employees today and expects the retirements to be done mostly done by the end of the year. Altogether, the announcement is the first major restructuring effort by new Lilly CEO David Ricks since taking the helm this year.
Source: www.fiercepharma.com/pharma/lilly-to-cut-3-500-jobs-take-a-1-2b-hit-as-it-aims-for-500m-savings
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Post by itellthefuture777 on Oct 26, 2017 10:00:53 GMT -5
Sanofi..isn't liking this...and might act aggressively..or..be left behind...We all know how she acts when someone is going to take their food dish away.. Sanofi is laying off sales reps too..but MNKD send message directly to Merck..come on over boyees!
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Post by itellthefuture777 on Oct 26, 2017 11:27:00 GMT -5
Ok...what we know..we know Mannkind sales team sells more then Sanofi did using just 1/7th the sales force..and with the old label...We know Merck is laying off 1800 sales force..and desires to have 960 roll over to other positions in the company. That leaves 840 to potentially add to MNKD sales staff..I am not certian of the MNKD sales staff levels exactly (sure someone here knows)...but lets say it is 70 to 100 a nice round number..add 8x to 10x sales staff..and add the new label..new advertising campaigns with the new funding..and then wonder..about Merck..surely Sanofi would..ha! imo speculating..and currently only 2% of diabetics are even aware of Afrezza..add all that up..
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Post by itellthefuture777 on Oct 26, 2017 11:31:26 GMT -5
Ok...what we know..we know Mannkind sales team sells more then Sanofi did using just 1/7th the sales force..and with the old label...We know Merck is laying off 1800 sales force..and desires to have 960 roll over to other positions in the company. That leaves 840 to potentially add to MNKD sales staff..I am not certian of the MNKD sales staff levels exactly (sure someone here knows)...but lets say it is 70 to 100 a nice round number..add 8x to 10x sales staff..and add the new label..new advertising campaigns with the new funding..and then wonder..about Merck..surely Sanofi would..ha! imo speculating..and currently only 2% of diabetics are even aware of Afrezza..add all that up.. also add..MNKD is just offering to hire the Merck sales force that is laid off..this unlike Sanofi doesn't come with sharing 65% of profits..nice!
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Post by itellthefuture777 on Oct 26, 2017 11:43:04 GMT -5
Ok...what we know..we know Mannkind sales team sells more then Sanofi did using just 1/7th the sales force..and with the old label...We know Merck is laying off 1800 sales force..and desires to have 960 roll over to other positions in the company. That leaves 840 to potentially add to MNKD sales staff..I am not certian of the MNKD sales staff levels exactly (sure someone here knows)...but lets say it is 70 to 100 a nice round number..add 8x to 10x sales staff..and add the new label..new advertising campaigns with the new funding..and then wonder..about Merck..surely Sanofi would..ha! imo speculating..and currently only 2% of diabetics are even aware of Afrezza..add all that up.. also add..MNKD is just offering to hire the Merck sales force that is laid off..this unlike Sanofi doesn't come with sharing 65% of profits..nice! Last point...While Mike clearly has Merck sales staff in mind...he posted an email link where to send their resumes...would be interesting to see how Many Sanofi laid off sales reps and other laid off sales reps apply..hmm
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Post by bradleysbest on Oct 26, 2017 11:54:22 GMT -5
How many sales reps does Mike plan to add & will they supplement current target areas or expand into new areas? Any ideas?
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Post by matt on Oct 26, 2017 12:09:00 GMT -5
The link suggests that Mannkind is targetting people laid off by Merck. Mannkind did the same sort of thing a year or two ago, when another pharma laid off its employees (off the top of my head, I cannot recall which pharma it was). Didn't work out all that well. You gotta remember, people being laid off are not the cream of the crop. The photo is certainly a Merck facility, but candidates could come from many companies. With the loss of patent exclusivity on Lantus (immediately followed by Lilly's launch of a biosimilar) Sanofi's diabetes business has turned into a dumpster fire. Novo Nordisk laid off 185 field sales reps in August, and even Lilly is laying off 3,500 in the US although most of those are head office and research. Bottom line, more and more the purchasing decisions are not made by the physicians but by the pharmacy benefit managers like CVS/Caremark and ExpressScripts. Fewer physician offices will even let a pharma rep through the door so that means fewer reps are needed, and that is doubly for big players who have major PBM contracts locked up. A pharma rep being laid off because they live in a territory that has largely gone to a "no see" office policy for drug reps might be the cream of the crop but they are located in the wrong geography. However, if they are being laid off because doctors in that geography won't talk to them then they are not going to do any better banging on doors with Afrezza in their bag. The "share of voice" selling model in pharmaceutical is all but dead for most companies. The question is whether MNKD can do any better if their reps are no more welcome than others.
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Post by straightly on Oct 26, 2017 12:13:01 GMT -5
How many sales reps does Mike plan to add & will they supplement current target areas or expand into new areas? Any ideas? There is no question here. What Mike has done is proving that we can sell Afrezza prescriptions. What we still need to do is proving that we can sell enough Afrezza and keep the doctors and patients towards cash flow positive. Double our costs structure will not take us there: we have to find ways so our prescription counts can start snowballing. We have to make the fertile grounds producing more before we copy them to else where.
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Post by itellthefuture777 on Oct 26, 2017 13:49:05 GMT -5
It's a buyers market for sales reps...timing..is everything~ Thousands of sales reps available..Mannkind aiming effort at Merck...easier to integrate later?
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