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Abbott Laboratories Message Board

  • Kazz_Modawn Kazz_Modawn Jul 14, 1999 4:04 PM Flag

    over 900,000 shares

    bought at close today. i like that.

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    • I am not certain what your fate will be within
      the PPD Division, as I only worked for HPD. Quite
      honestly, you should be more concerned about what your
      salary will be should mother-Abbott decide to keep you
      around. It is my understanding that most of the Alza
      managers had bases in the 6 figure range. That will not
      happen at Abbott. I would say on average, a grade 19
      manager would probably top out in the $85,000 range on a
      base. Like I said, perhaps it's different for PPD. The
      low base was why I left ABT. Rxdude is correct in his
      answer on the distribution of options. Anything below a
      Grade 21 was at the discretion of the Board
      annually.

      I saw a few capital equipment companies acquired
      when I was at HPD. Usually, some of the reps stuck
      around, never saw a manager stick around.

      Good
      luck!

    • Regarding your question about options...it is
      relative to your level within the organization as a
      manager. Go back a few days on this board and you will
      find some good discussion regarding options for
      managers but as a summary....field managers (grade level
      18 and 19 receive about 500 shares / year) Grade
      level 20/21 receive about 1,500 options per year
      (depending on how the board approves them) and then you go
      up from there.
      Hope that is helpful. Just find
      out your approximate grade where 18/19 is a field
      manager/marketing manager. 20/21 is a senior marketing
      manager/regional sales director...22/23 is a business unit
      director/sales director...etc.

    • I am an Alza employee in management. I would like
      more information on how Abbott treats management of
      the acquired company. Rumor has it that all managers
      have different ratings in which they are eligible for
      stock options is this true and can you provide more
      details?

    • I wasn't a grade 20. I was a 19 in HPD. Left in
      Jan of 98...no options for us grunts in the
      field.

      Now I have options and ability to purchase discounted
      stock. Much happier but sometimes miss ABT's ability to
      conduct business with great savy.

    • Hey Jim;
      That website (stockvotes. com)you
      told me about was really the best financial website
      ever! specially the STOCK PICKS FROM ALL OVER THE NET
      section was very useful for me.
      But for portfolio
      tracking and messgae boards I prefer Yahoo Finance.

      Thanks again!
      Mike

    • You must work in R&D because that was a textbook
      description of the problems with Abbo. There was always a
      feeling on the brand team that Abbott never got the FDA
      approval for treating arterial and venous occlusions due
      to the true source of the kidney cells. Also, don't
      forget how the marketing group could have easily avoided
      all these problems if the recombinant urokinase (rUK)
      got approval as planned for back in 1995-6. Mike
      Morrison and the venture team screwed up bigtime with the
      TOPAS study and chose surgery as the standard vs.
      traditional Abbokinase. This could all have been avoided!!!

    • The reason Paul Clark left (past president of PPD
      before Art Higgins) is not due to the problems with
      Abbokinase. That drug has had problems since it cause chills
      and rigors in 1991-2. Even then, they couldn't
      identify the cause of the problems however they suspected
      the sample of UK (urokinase) had higher levels of a
      substance known as interleukin-2 which caused the symptoms.
      They were described in an article published in the
      Journal of Interventional Radiology in 1992. The issue of
      Paul Clark lies in several factors: primarily the lack
      of ANY innovative compounds which came out of his
      "venture" teams he developed when he joined the company
      from Sandoz. Venture teams were designed to speed up
      the discovery of novel compounds. However, not one of
      Abbott's current promoted products was developed by any of
      these teams. The second problem was the decline of
      Biaxin to Zithromax (Pfizer). Once the flagship of the
      division, Biaxin has slumped 20% and taken a beating in
      managed care accounts nationally. Now, until the
      aggressive acquisitions by Miles White, there was nothing to
      take over the upcoming losses to Hytrin (generic),
      Biaxin, Cylert (generic), the failure of Zyflo, the
      failure of Tiagabine and the weak performance of TriCor
      (lipid lowering).
      I think Miles' moves will pay off
      for the division but in the meantime, HPD and ADD and
      even Ross are making up for the
      shortfall.

      rxdude99

    • In what division were you a grade 20? I was in the pharma division (PPD) for 11 years and left a few months ago.

    • Thought I would inject a little biology into this
      board. Kidney cells produce a protein called urokinase
      (Abbokinase) to keep the blood flowing at site of
      secretion(organ acts as blood filter). This protein is in small
      amounts thus gets diluted by blood and is not a problem
      elswhere in the system. The protein is secreted into the
      urine, however, huge amounts of urine would have to be
      processed to isolate the protein. Thus by growing kidney
      cells in culture one could isolate the protein in
      larger quantities and with less impurities.

      Not
      just any kidney cell is grown. One has to search for a
      "cell line" with high production of the protein (donor
      with overexpressed protein) and young cells are better
      than older cells (genes get messed up as we age). This
      cell line has to be maintained in sterile conditions
      and may last for a number of generations but
      eventually has to be replaced.

      The product (isolated
      protein) is usually freeze-dryed under sterile conditions.


      My take on ABT's problems are as follows: 1. Some
      advocacy groups don't like the source of the kindney cells
      and put pressure on the polititians. 2. Working with
      a natural human product from human cells requires
      dilligence against even unknown microbes.

      The
      alternatives to ABT's product is a bacterial enzyme,
      streptokinase (which may cause allergic reaction but is
      cheaper), and a human protein (plasminogen activator)
      produced by genetically engineered hamster
      cells.

      Hope I haven't bored anyone.

    • No that is one Div that I've never worked in.
      Your correct that the stock is ABT, but when people
      make statements using peoples names they should at
      least know who and what they are talking about.
      Each
      Div operates as a seperate co. with it's own P&L and
      is managed overall by the COO & CEO.

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