Author Topic: Humor at the Drug Store  (Read 1804 times)

Offline JC Spencer

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Humor at the Drug Store
« Reply #1 on: August 11, 2011, 02:24:53 PM »
by JC Spencer

I never did like humor at the expense of another... that is unless they really earned it.  This humor is not as funny as it simply reveals how out of control some pharmaceutical giants are.  This time it is Pfizer.  I do not know if this is representative of a bipolar problem or not.  If bipolar were involved, apparently there was no drug to reverse it.  Or, maybe the drug was the problem.

Fortune magazine reported that the Pfizer Board had allowed problems to fester and compound for years.  A Shakespearean series of events unveiled the saga of ambition without competency, intrigue without solutions, backstabbing instead of cooperation, and betrayal in absence of trust.

Sorry to say, but this is a picture of many companies and governments when internal problems grow out of mismanagement and poor leadership.  Pfizer CEO Jeff Kindler was plagued with sagging stock prices, a dried-up pipeline of drug development, and unexpected changes in strategy.  Added to these problems was a coup where the Board finally caused Kindler to resign. Apparently, disastrous choices in choosing support teams and his inability to settle on one solid business strategy, caused his executive team to rebel against him and the board to oust him. He had an inability to trust his colleagues, even though they had more experience in the pharma industry than he did, and instead employed an army of outside consultants, the reporters write.  Kindler chose three research chiefs in his less than five years, closed six R&D sites, halted research in 10 disease areas, even as he told his employees he wanted to launch four new internally developed drugs by 2010, Fortune reported.  He split the research operation in two, then reversed himself 30 months later. He called for Pfizer to become a smaller company, and started downsizing his sales department, then did an about-face and engineered Pfizer's buyout of Wyeth.
« Last Edit: August 12, 2011, 09:02:08 AM by JC Spencer »