Cafe Pharma GSK Drug Reps Discuss Andrew Witty And His Tenure At GSK.


03-25-2015, 02:08 PM
Anonymous
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Default RIP WITTY

Sir Witty your time is up….start to clear your office and calculate your separation package.
You have an F grade as your report card.http://www.fool.com/investing/genera…nge-manag.aspx

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  #2
Old 03-26-2015, 12:13 PM
Anonymous
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Default Re: RIP WITTY

Time for Witty to move on and bring in new leadership to save us.
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  #3
Old 03-28-2015, 01:18 PM
Anonymous
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Default Re: RIP WITTY

Sir Andrew was much like the current President of the U.S. Charismatic, but only to the naive. Too young and too inexperienced. Not enough time paying his dues, learning and acquiring wisdom. This is what you get. A company that has been forever branded as unethical. Not just in this country but around the world. A more experienced executive could have navigated these issues a lot better. He needs to go!
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  #4
Old 03-29-2015, 10:54 PM
Anonymous
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Default Re: RIP WITTY

must go he is clueless about the bribes, advair, nogrowth, he is pathetic laughing stock.
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  #5
Old 04-01-2015, 03:48 PM
Anonymous
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Smile Re: RIP WITTY

Quote:
Originally Posted by Anonymous View Post
must go he is clueless about the bribes, advair, nogrowth, he is pathetic laughing stock.

\

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  #6
Old 04-02-2015, 08:31 AM
Anonymous
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Nervous Re: RIP WITTY

Could not agree more. Witty and DC were great together. Great visionaries. What is GSK doing to itself breaking up such a great twosome. Long live PF.
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  #7
Old 04-02-2015, 10:06 AM
Anonymous
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Default Re: RIP WITTY

Quote:
Originally Posted by Anonymous View Post
All this is rubbish….Andy is a thoughtful, kind, family man committed and working hard towards the success of GSK.
Not so nice things are being said about him. He is working hard to turn things around.
The brides were result of bad rouge employees, Advair was marketing and divisional head responsibility. Lack of growth is a result of a new products and research failure. Its a dry spell. If the lavatory backs up it is plumbing problem and Andy cannot be blamed for all things going wrong.

I would like to believe this, and I could believe this, but evidence which trickles down to the field level is scant at best. We don’t know what to believe any more, quite frankly.

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  #8
Old 04-03-2015, 10:25 AM
Anonymous
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Default Re: RIP WITTY

Quote:
Originally Posted by Anonymous View Post
Could not agree more. Witty and DC were great together. Great visionaries. What is GSK doing to itself breaking up such a great twosome. Long live PF.

You must be insane GSK has struggled and shrinking. U have Pompous Asses running the show. Research productivity and business implementation areas suck. So what is left manufacturing and legal to keep us out of jail. Apathetic place to work.

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  #9
Old 04-03-2015, 01:42 PM
Anonymous
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Default Re: RIP WITTY

the fact is that many people knew about imminent China issue before it hit the fan. It was discussed at exec level. Many quick reassignments.
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  #10
Old 04-03-2015, 02:29 PM
Anonymous
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Default Re: RIP WITTY

To Post #5 – You seem to be giving Sir Andrew a pass? Stock has performed poorly under his reign. Company has had three downsizings under his leadership. Scandal has been rampant since he has been at the wheel. Hundreds of millions have been lost because of the reasons I have stated. Let me give you another scenario and see how you answer. You have a local field sales representative. Been with the company 15 years. Throughout that time the individual has been directly responsible for for thousands of GSK prescriptions. Never a blemish on their record. But then the sales drop below the national average. For six to twelve months. Whats the first thing GSK does? They issue that individual a PIP. They make that person so stressed out that they either leave or get fired. We have all seen this play out many times over the years. The fact that the reps sales dropped because of a managed care loss is not a valid reason for an excuse according to GSK. So I ask you, do you still believe Sir Andrew should stay? How about a PIP issued by the BOD? How about weekly Field Ride-Alongs 8 hrs per day with no break? Either the performance improves or he is fired? While were at it, when he travels on business, have him get a “roommate” who snores all night long and takes $hits that peel paint from the walls. That seems fair to me. Thoughts?
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  #11
Old 04-03-2015, 04:16 PM
Anonymous
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Argue Re: RIP WITTY

Quote:
Originally Posted by Anonymous View Post
To Post #5 – You seem to be giving Sir Andrew weekly Field Ride-Alongs 8 hrs per day with no break, when he travels on business, snores all night long and takes $hits that peel paint from the walls. That seems fair to me. Thoughts?

Indeed.

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  #12
Old 04-03-2015, 09:31 PM
Anonymous
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Default Re: RIP WITTY

Look at GSK’s stock price history 2008-present vs. pharma peers. End of story.
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  #13
Old 04-07-2015, 07:03 PM
Anonymous
Posts: n/a
Default Re: RIP WITTY

Quote:
Originally Posted by AnonymousView Post
All this is rubbish….Andy is a thoughtful, kind, family man committed and working hard towards the success of GSK.
Not so nice things are being said about him. He is working hard to turn things around.
The brides were result of bad rouge employees, Advair was marketing and divisional head responsibility. Lack of growth is a result of a new products and research failure. Its a dry spell. If the lavatory backs up it is plumbing problem and Andy cannot be blamed for all things going wrong.

Oh, wow, thanks man. I had a hard day and needed a laugh….

http://www.cafepharma.com/boards/showthread.php?t=577435

That relatively flat line chart of the share price since Witty took over, compared with the rest of the sector is actually much worse than it looks. GSK has been buying back billions of dollars worth of shares each year to boost the price per share
Anonymous
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Default Re: Consensus to oust clueless Witty

Quote:
Originally Posted by Anonymous View Post
That relatively flat line chart of the share price since Witty took over, compared with the rest of the sector is actually much worse than it looks. GSK has been buying back billions of dollars worth of shares each year to boost the price per share

Correct – the buybacks and fat dividend are keeping the share price treading water. And at current levels of sales, the sustainability of the dividend is questionable. If that gets cut, watch out!

Re: Consensus to oust clueless Witty

Quote:
Originally Posted by Anonymous View Post
Correct – the buybacks and fat dividend are keeping the share price treading water. And at current levels of sales, the sustainability of the dividend is questionable. If that gets cut, watch out!

Also the increase in Pension Liabilities seems worrisome — grew £1b larger in 2014, as per Annual Report — as yet another drain on free cash flows (beyond dividends and share buybacks) that limits ability to reinvest in the company’s core operations and its human capital.

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  #9
Old 03-27-2015, 02:52 PM
Anonymous
Posts: n/a
Default Re: Consensus to oust clueless Witty

List of buffoonery and clueless:
1. China Scandal….I did not know…paid $500Mil
2. Selling of oncology high margin business
3. Advair debacle
4. OIG settlements of $3 Bil
5. Zero growth strategy
6. Surrounded by sycophants and kiss asses
7. Poor engagement with this direct reports
8. Lack of interpersonal skills, contrite arrogant and yes clueless
9. Poor insights and competence to manage at the helm.

Fit to be a dishwasher and not a CEO of GSK.
Lets be real any one of these disaster ought to have resulted in his termination.

Is It Time for GlaxoSmithKline plc to Change Management?

Big pharmas aren’t exactly known for replacing top-level managers very often, especially CEOs. So when the French biopharma giant Sanofi fired its CEO Chris Viehbacher last year, industry insiders stood up and took notice.

While there is some debate as to the exact reasons why Sanofi made such an unprecedented move, many felt that Viehbacher didn’t set the company up for success past the looming patent expiration for the company’s flagship diabetes drug, Lantus.

With the patent cliff on track to claim roughly $65 billion in revenues from the broader industry over the next four years, we very well might see even more high-level shake-ups in the near future.

Source: Wikimedia

GlaxoSmithKline (NYSE: GSK  ) , for instance, has already started making changes to its Board, replacing chairman Christopher Gent with Philip Hampton. And some have speculated that the British pharma giant’s CEO Andrew Witty could be next.

Since Witty took over as CEO in 2008, Glaxo’s share price has, well, been absolutely crushed by the broader biotech sector:

GSK Chart

The bigger problem, though, is that Glaxo looks somewhat lost in relation to its biopharma peers, many of whom are racing to develop next-generation cancer, cholesterol, and infectious disease treatments.

Glaxo, by contrast, has given up on its immunotherapy aspirations after MAGE-A3’s last failure, and its core respiratory portfolio will only continue to lose market share as Advair comes off patent protection in the U.S.

Indeed, the only significant move the company has made lately in an effort to stem the tide is to swap its oncology assets for a portion of Novartis‘ vaccine portfolio — an underwhelming $21.5 billion exchange in the eyes of many investors, especially since this particular group of vaccines saw their sales drop by double digits at one point last year.

Should Glaxo replace its top executive?
Under Witty’s watch, the company has tried to replace aging assets like Advair with homegrown clinical candidates or through research agreements with smaller biopharmas. As shown by the MAGE-A3 example, though, this strategy simply hasn’t paid off. In fact, the pharma giant saw revenue decline by a stunning 16% year-over-year, according to its fourth-quarter earnings report.

Aside from its joint venture HIV business ViiV Healthcare, co-owned with Pfizer and Shionogi, Glaxo doesn’t have much in the way of exciting new products. Glaxo also had to drastically slash the price of its new respiratory medicine, Breo Ellipta, to placate insurers last year, although this decision has reportedly resulted in a nice uptick in sales.

The issue at hand is that Glaxo has shied away from the widespread “growth-by-acquisition” strategy that has worked like a charm for companies like Actavis/AllerganGilead Sciences, Valeant Pharmaceuticals, and many others.

This decision reflects Witty’s reluctance to engage in the M&A bonanza hitting the healthcare sector these days. But the consequences are clear-cut: Glaxo’s cash flows aren’t stable, and its monster dividend of 5.7% probably is at risk of being cut.

Moreover, Glaxo, with Witty at the helm, hasn’t been able to figure out what to do with its legacy products, reportedly trying to sell them last year but later reconsidering this option. Faced with a similar situation, Pfizer restructured its entire organization to reflect the positive impact of growth products and is continuing to look for innovative ways to package its older products in a manner that will create value for shareholders. For reasons that aren’t altogether clear, Glaxo hasn’t followed suit in this regard — nor has it laid out a clear path on how it plans on returning to growth.

So in light of the company’s falling revenues and stagnating share price, it might be time to consider a change at the top. As such, investors might want to shy away from this top healthcare name, despite its massive dividend.

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