Comments on: AstraZeneca, BMS Announce Layoffs and Buyouts http://blog.pharmexec.com/2009/10/21/astrazeneca-bms-announce-layoffs-and-buyouts/ The Business of Pharmaceuticals Wed, 08 Feb 2012 14:53:10 -0500 hourly 1 By: Raj http://blog.pharmexec.com/2009/10/21/astrazeneca-bms-announce-layoffs-and-buyouts/comment-page-1/#comment-47328 Raj Thu, 22 Oct 2009 17:39:09 +0000 http://blog.pharmexec.com/?p=1111#comment-47328 Big pharma are victims of their own success. Too much margins and expanding revenues in 90's made ways for free spending, expanding sales force beyond what was optimum, 3-5 sales representatives promoting one product where only 1-2 were needed. Big pharma built huge R&D centers, and employed thousands of workers and money was spent and feverish pace. All leading to downfall that we are seeing now. The leadership in our corporate America has been poor at best. From Wall Street to other corporates and big pharma wasn't any different. Personal greed has overtaken good corporate governance, boards are suppose to oversee governance became one large country club where CEO's and CFO's spend lavishly on board members and got virtually anything approved. It is high time society society reaceted to this excess and manage it. We have to substitute personal greed with what is good for society and corporation. That will require ground up changes from school education to colleges, from parents teaching their kids to government behaving in a more responsible way. The soluton has to be multi pronged and big pharma is just one piece of the puzzle Big pharma are victims of their own success. Too much margins and expanding revenues in 90’s made ways for free spending, expanding sales force beyond what was optimum, 3-5 sales representatives promoting one product where only 1-2 were needed. Big pharma built huge R&D centers, and employed thousands of workers and money was spent and feverish pace. All leading to downfall that we are seeing now. The leadership in our corporate America has been poor at best. From Wall Street to other corporates and big pharma wasn’t any different. Personal greed has overtaken good corporate governance, boards are suppose to oversee governance became one large country club where CEO’s and CFO’s spend lavishly on board members and got virtually anything approved.

It is high time society society reaceted to this excess and manage it. We have to substitute personal greed with what is good for society and corporation. That will require ground up changes from school education to colleges, from parents teaching their kids to government behaving in a more responsible way. The soluton has to be multi pronged and big pharma is just one piece of the puzzle

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