Slightly better than expected earnings, new ceo
who promises that it will be at 50 by end of 99,
committment to accountability which is new at Allergan,
salary expense will continue to be reduced through
They want to become a small (for
the pharmaceutical industry), aggressive company that
can react quickly in the marketplace.
It seems/appears this company has been
restructuring for a long time. Can you provide any insight(s)
as to HOW they plan to become smaller and more
aggressive in the marketplace? While their product portfolio
includes more than pharmaceuticals, it is difficult for me
to understand how they will react more quickly in
the pharmaceutical marketplace. Unfortunately, I
understand all too well about restructuring and layoffs.
Thanks for the input.
It seems you have some excellent insights on what
needs to happen/what will happen at AGN. I'd rather not
discuss that in this forum. Believe me, I have a long
history Allergan. Please feel free to email me:
email@example.com...we might know each other. Thx, Bill F.
Having worked a AGN for a while and then leaving
on "my Accord",
I believe radical changes need to
The infrastructure will defeat the new
CEO for to many veterns are entrenched and are just
paying lip service, as they do not want to be forced
into make any decisions other than being well
a. Have to get rid of two layers of management as
there are to many VP's and Directors. All these
positions should be eliminated and only have VP, for
b. "Lifers" control the key power
points indirectly. No matter how I tried, I was
overshelmned by not doing it the "Allergan way."
c. AGN has
had tremendous talent pass through its building who
are no longer there. WE were told we are going to
take on Alcon, but AGN lacked the systems and
d. AGN needs to lay off people who have there over
10 years as they are ingrained in the AGN mentality.
The new CEO is going to have to overcome that
inertia, but can he.
e. There are a few people there
that want to change, but change is not going to
happen. To much micro-managing and the need to be
f. The problem will not be solved as the VP's will
be saved, and the Hourly employees will pay the
price. The work will still be there, only less people
will be there to do it. Where is the savings.
I read your post with great interest. I, too, am
I was with Allergan for 27
years. My last position was Sr. V.P., U.S. Sales &
Marketing for eye/skin pharmaceuticals & Botox.
downsized (read "canned") about 4 years ago.
sense is we know each other?
Please feel free to
email me: Bfaulds@aol.com if you'd like to discuss the
Thanks, Bill F.
I think current movement of stock is liked by
many investors and investment firms....all the
institution is buying allergan stock and that is a good news
for the company. Allergan has talented people still
working for the company and increasing research budget
every year. I think it will definately benifit company.
In addition, CEO will definately make the difference
for the company!
THE STOCK WAS UPGREADED TO A
"BUY" BY BEAR STEREN AND IT SHOWS THAT ALL ANALYSTS AND
INVESTMENT FIRMS HAVE STARTED NOTICING THE OPPORTUNITY IN
AGN STOCK......SO BUY IT FOR 15-25% RETURN WITHIN 3-6
Who in the world is Bear Steren? Is your post a
hoax or what? To be considerate , I will assume you
are from a foreign country!!!!
A couple of
1) Why will increasing the R&D budget be good for
investors? Are you familiar with the "time" required to
introduce products? Are you familiar with past R&D
2) Specifically, why do you believe the new CEO,
David Pyott, will make a difference. I would like to
know his plans from your perspective.
on what specific information do you expect AGN to
have a return of 15-25% in the next 3-6
I'm not picking on you, but your post is poorly
written and frought with "bulletin board stock"
I welcome your comments.
Bill, your were Corporate Management and I was
only in the "Field."
AGN is a recommendation as its
about time they start to clean house. Problem is that
the infrastructure of the 12+++ year employees will
still be there and what have you gained.
to terminate most of the VP, all the Directors, and
anyone who has over 12 years at the one location. The
is great and he is trying as we can see
from here in Texas.
But we will contiune to lose
as they have no new products in the
will not have for several years.
My problem was the
lack of product to my customers. They were tired of
receiving 3 shipments over 30 days against one PO. I had to
do exchanges to save my customers. To many layers of
management to get anything done. I mean 63 Vice Presidents
to do what, yet you laid off a clerk who was doing
more than the VP's combined because she cared and
talked to the customers. AGN will continue to do
business the way they have in the past 20 years and will
continue to do things the same way for the next
Watch the "blood Bath" and see how many 15 to 20 year
veterans are still there.
I feel for the CEO, but there
are quite a few that want him to be a success, but
after a $135 Million restructuring charge, what is
left. No one listens to the field people as everything
is micro managed. You make a decision, you will be
shot unless you have 5 signatures of authority. Try to
get an Expense Statement approved.
Bear Stearns has gone heavy into pharma stocks as
many are undervalued. AGN has possibilities over the
long term. New CEO is leaving his mark on the company.
but still needs to make changes that have not been
made in the past 10 years. AGN is going to become a
Consumer Products driven company. It still lacks the
systems and procedures that will catch up with them in 18
months. His plans for layoffs are good, but he will
probably loose some good people along the way who are not
favorites. Still need a CFO and he should come from a Sales
Look for a 10 point gain over the
next 60 days especially when
AGN takes a Special
Charge of $175 Million in 3Q. Get in now
as 2Q is on
target and 3Q will be Lower, but it will prevail.
could get warm, but they need products and that is the
limitations. Balance Sheet is clean and they are generating
Flow, but they need sales. Alcon is not worried, but
watch BL when the merger with Chiron and Storz is
completed. They could be the force to dethrone AGN. The CEO
is knowledgeable, but
does he have the support
that he needs to accomplish his goals in a company
that plays it safe. His biggest job is getting to know
the Managers who are the ones producing, but are not
getting the benefits and will be laid off.
Unconfirmed rumor: A Senior VP will be "retiring"
in the near future. I've been led to believe it is
Rick Hilles. I am not sure of that, however. This is
I'm sure all of those close to
AGN will be saddened by the lose of Rick, as he has
always been a very kind, considerate and loving
In all, it appears Pyott is truely moving to slash
Pyott's next move, barring outright sale, should be to
increase the topline.