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
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.
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
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
I wasn't a grade 20. I was a 19 in HPD. Left in
Jan of 98...no options for us grunts in the
Now I have options and ability to purchase discounted
stock. Much happier but sometimes miss ABT's ability to
conduct business with great savy.
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.
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
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
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.
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.
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
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.
Div operates as a seperate co. with it's own P&L and
is managed overall by the COO & CEO.