Posted on August 24, 2007 by BioJobBlogger

Maybe I Should Apply for a Job at Fortune Magazine

After I posted my piece on August 20, 2007 on why it would not be a good idea for Pfizer to purchase Wyeth , I came across this post today at CNNMoney.com "Why a Pfizer-Wyeth merger is a bad idea"  by John Simon at Fortune magazine.  He essentially says the same things that I did in my posts, but since he is journalist who works at Fortune magazine,he will probably get credit for the insight even though I debunked the Pfizer-Wyeth rumor thing 4 days before he did.  I tell you life is just not fair!

Hmmmmmmmmmm....maybe I am smarter than I think I am.  Alternatively, maybe people are slower than I thought.  So it goes.........

Shoudd I re-evaluate my career options and apply for a job as a journalist for Fortune magazine? Whadda think?

Until Next Time....

Good Luck and Good Job Hunting!!!!!!!!!!!

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Posted on August 23, 2007 by BioJobBlogger

FDA Approves ImClone's New Biomanufacturing Plant-More Manufacturing Jobs for New Jersey

ImClone Systems Incorporated (NASDAQ: IMCL) announced today that is has received approval from the Food and Drug Administration for a second facility to manufacture ERBITUX®. Company officials said that “The approval to manufacture ERBITUX in this new 250,000-square-foot multi-suite manufacturing facility, referred to as "BB50", more than doubles ImClone's total available production volume capacity for ERBITUX. This approval, in conjunction with ImClone's existing "BB36" manufacturing facility, enhances the Company's ability to meet increasing demand for ERBITUX in the worldwide market”.

Approval of the new facility, located in Branchburg, NJ could translate into additional jobs to an already battered manufacturing workforce.

If you live in NJ, and have biomanufacturing experience dust off that resume and shoot it over to the folks at ImClone.

Until next time….

Good Luck and Good Job Hunting!!!!!!!!!!!

Visit DiversityJobs.com for information on Diversity in the workplace
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Posted on August 20, 2007 by BioJobBlogger

Pfizer Buying Wyeth---Nah!!!!

This morning, Jacob Goldstein at the Wall Street Journal's healthblog, suggested that Wyeth may be an attractive buying opportunity for beleaguered pharmaceutical giant Pfizer.  He based this possibility on a note that he received from Credit Suisse analyst Catherine Arnold, in which she posited that Wyeth's strong pipeline and plummeting stock price (due to recent regulatory setbacks) may  make it attractive as a buyout opportunity for pipeline-challenged Pfizer. 

Call me crazy but I think the assertion is ridiculous and simply an overt attempt by Mr. Goldstein to boost readership for the WSJ's healthblog.  In my opinion, Pfizer has been mired in a downward financial spiral ever since it acquired Warner Lambert (for Lipitor) in the late 1990s.  I think by now that Pfizer executives have learned the lesson that bringing companies with contrasting corporate cultures under a single roof  (regardless of monetary inducements and a financial upside), is more costly and challenging than it appears to be "on paper"

Although Mr. Goldstein's assertion is speculative, I do not  think it is appropriate to start fresh rumors about  possible corporate buyouts that could affect an already erratic and destabilized stock market. That said, I think that bloggers have an ethical responsibility  to consider the impact that their posts have on everyday folks before they begin to speculate on possible corporate mergers or buyouts. Imagine the effects that these rumors could have on the daily lives of already demoralized Wyeth and Pfizer employees! 

Until next time....

Good Luck and Good Job Hunting!!!!!

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Posted on August 20, 2007 by BioJobBlogger

Signs of a Slowing Job Market-Monster Worldwide, Inc. Announces Layoffs

Monster Worldwide, the company that runs the largest job board site Monster.com, quietly announced three weeks ago that is was laying off about 800 workers or approximately 15% of its workforce.

Monster Worldwide Inc. said mounting legal expenses associated with defending a growing U.S. government probe of its stock options grants practices were the reason for the job cuts.

The layoffs will mostly be in non-sales jobs in North America, Monster said.

The company also plans to streamline functions such as human resources and finance, Monster said.

It is not a harbinger of good things to come when the largest site on the web dedicated to helping individuals find employment downsizes its workforce to cut costs!

Until next time....

Good Luck and Good Job Hunting

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Posted on August 15, 2007 by BioJobBlogger

The Axe Has Fallen at Amgen

Amgen announced late today that it was cutting 12% to 14% of its workforce or close to 2600 workers mostly in research and development and manufacturing. The job cuts are slightly higher than analysts had expected and the first in Amgen's 20 year storied history.  Amgen has been losing ground due to slowing EPO and Aranesp sales and a push by regulatory agencies to the tighten the use of EPO-like products in dialysis and cancer patients. Amgen, which used to be an innovative and nimble biotechnology company, now resembles a stogy, traditional pharmaceutical company with hundreds of thousands of employees and a large infrastructure to support.  Like Amgen, Johnson and Johnson and other pharmaceutical companies including Pfizer, AstraZeneca, Bristol Myers Squibb and Merck recently shed thousands of jobs to cope with diminished prospects on new drugs and patent expiry on existing blockbuster products.  In contrast, Genentech which has a larger market capitalization than Amgen and remains iAmgen's largest competitor, has been able to remain true to its biotechnology roots by creating innovative, life-saving medicines-primarily in oncology.

It looks like the bubble has burst in a Thousand Oaks!!!!!

Until next time....

Good luck and Good Job Hunting......(except in a Thousand Oaks)

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Posted on August 15, 2007 by BioJobBlogger

FDA to Require Good Manufacturing Practices for Dietary Supplements-More Jobs?

On June 22, 2007, the US Food and Drug Administration (FDA) quietly, but emphatically, issued a press release that heralded “the final rule” to establish regulations requiring current Good Manufacturing Practices (cGMP) for dietary supplements. As many of you may know, cGMPs are FDA-mandated rules and regulations that guide the manufacture of products ranging from food to cosmetics to pharmaceutical/biotechnology products. cGMPs were devised by FDA to insure product consistency, quality and safety. Companies that fail to comply with cGMP rules and regulations cannot manufacture or sell their products in the US. FDA monitors cGMP compliance via regular inspections of food, cosmetic and drug manufacturing facilities.

For those of you who do not follow cGMP regulations (sadly I do), FDA had previously not established ANY manufacturing regulations to guide production of dietary supplements. Products classified as dietary supplements include all of those botanical, herbal and other products that many of you have probably been taking for years! I bet most of you didn’t know that these products were not tested for safety or quality before you ingested them. In contrast with the drug and medical devices industries (which are highly regulated by FDA), companies that manufacture dietary supplement have been allowed to police themselves for product safety and quality for the past 50 years or so. This loophole in the cGMPs always troubled me because many dietary supplements actually contain pharmacologically-active compounds that are quite similar to prescription drugs.
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Posted on August 13, 2007 by BioJobBlogger

Layoffs Announced at Johnson & Johnson

As an another sign of growing weakness in the pharmaceutical sector, new Jersey-based Johson & Johnson  announced late last week that broad layoffs will occur across several divisions of the company.  According to published reports, approximately 4,800 employees will lose their jobs.  The company did not disclose all of the locations where the layoffs would occur with the exception of announcing that 600 jobs at its California-based Alza Corp subsidiary would be eliminated. 

J & J has a global workforce of approximately 120,000 employees with about 13,000 based in NJ. I suspect that the job cuts will occur in J & J's salesforce and possibly in American-based manufacturing operations.

Until next time...

Good Luck and Good Job Hunting!!!!!!!! 

 

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Posted on August 10, 2007 by BioJobBlogger

Oops: Wyeth Does It Again!

On Friday, the US Food and Drug Administration (FDA) rejected Wyeth’s new drug application for bifeprunox, its experimental new schizophrenia treatment, on safety concerns. Wyeth is co-developing bifeprunox with Belgium-based Solvay Pharmaceuticals. FDA wasn’t satisfied with bifeprunox’s effectiveness (as compared with placebo and reference schizophrenia drugs) in two short term clinical studies for acute schizophrenia that were conducted by the company. The agency also requested more information on bifeprunox’s metabolism and additional details regarding the death of a patient in one of Wyeth’s studies. Industry analysts estimated that if bifeprunox garnered FDA approval it would have had net sales of $250 million next year and ultimately reach $1.0 billion in sales over the next few years.

FDA’s“unapprovable letter” for bifeprunox is the second major setback for Wyeth in a matter of weeks. Late last month, FDA sent Wyeth an “approvable letter” for Pristiq, a second-generation derivative of Effexsor, which Wyeth expects to sell as a treatment for menopausal symptoms. The agency had safety concerns about Pristiq and requested that the company conduct a year-long clinical study to address those concerns. Wyeth had hoped that it would have received FDA approval for Pristiq during this review cycle.
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Posted on August 10, 2007 by BioJobBlogger

As Predicted: Layoffs Likely for Amgen Employees

I posted a piece several months ago that predicted that Amgen may be in for a rocky ride as a result of slowing revenue growth (due to increased regulatory scrutiny of its EPO franchise) and a relatively weak drug development pipeline. Not surprisingly, the Wall Street Journal reported on Thursday that there are signs that employee layoffs are likely in the near future (I am sure that this is a not a surprise for current Amgen employees). In documents filed with the SEC on Thursday, corporate language appeared that included phrases like “improve our cost structure,” “seek greater efficiencies” — corporate speak that layoffs are imminent.

Industry experts estimate that layoffs of up to 15% of Amgen’s workforce may take place. In support of this, last week, CEO Kevin Sharer sent a message to employees through the company’s voicemail system, saying changes could be in the offing.

I think it is time for Amgen employees to remove the dust from their resumes!!!!!

Until next time….

Good Luck and Good Job Hunting!!!!!!!!!!!
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Posted on August 9, 2007 by BioJobBlogger

Should Vioxx Be Brought Back to the Market?

It has been nearly three years since Merck pulled Vioxx off the market for safety reasons. However, there is a movement afoot, by former users of the medication, urging Merck to bring the drug back onto the market. Folks who swear by Vioxx have been sending letters and e-mail messages to Merck executives pleading with them to reconsider the decision to remove the drug for sale.
Not surprisingly, there is a growing number of people who have tried other COX-2 inhibitors related to Vioxx to treat chronic pain (caused by inflammation) but without success. Many of these individuals cannot find any relief from chronic pain unless they use Vioxx. I learned about the benefits of Vioxx from a friend of mine who suffers from an autoimmune disease. She recently told me over a cup of coffer that no other pain medication or treatment other than Vioxx provides her with the pain relief necessary to function on a daily basis. To that end, she confided in me that she had squirreled away her remaining doses of Vioxx and only uses them when her pain is unbearable. Further, she also told me that she knows of alternate ways, e.g., the black market, to obtain Vioxx -something that shocked me since she is one of those people who is typically law abiding and lives her life according to strict moral standards. My friend’s experiences along with those of countless others, beg the question–Should Vioxx be available for sale in the U.S?

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Posted on August 9, 2007 by BioJobBlogger

J & J Sues the American Red Cross for Trademark Infringement

The NY Times reported today that the New Jersey-based, health care giant, Johnson & Johnson has sued the American Red Cross for trademark infringement. According to the article, J & J actually owns the American Red Cross symbol–a fact that is not disputed by either party. Back in 1895, J & J and the American Red Cross agreed that the American Red Cross could use the J & J symbol for not-for-profit activities. Over the years since the agreement was struck, the American Red Cross symbol has become synonymous with disaster relief and humanitarian aid. However, over the past few years, the American Red Cross has entered into licensing agreements with several for-profit companies who use the Red Cross symbol to sell their products. Licensing fees from the sale of these goods has been reported to net the American Red Cross about $10.0 million per year (the American Red Cross purportedly uses the licensing revenues for disaster aid and other humanitarian activities). Nevertheless, it seems likely to me that the American Red Cross violated the original trademark agreement that it entered into with J & J over 100 years ago. Consequently, I believe that the American Red Cross ought to stop licensing its symbol (actually J & J’s symbol) for for-profit activities. After all, the American Red Cross is registered as a not-for-profit entity! Continue Reading...
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Posted on August 7, 2007 by BioJobBlogger

Big Pharma and Generic Manufacturers: Are They Really That Different?

An article in today’s NY Times entitled “Setback for Novartis in India Over Patent Ruling” started me thinking about big pharma and its relationship to the generics industry. On the surface, the differences between pharma companies and generic manufacturers would appear to be somewhat stark. For example, pharma companies are perceived to be highly innovative, do good science and provide the world with potentially life-saving medicines. In contrast, generics manufacturers are typically viewed as distributors of lower-priced, copycat versions of highly successful innovator products whose science may be dubious at best. However, when you get right down to it, both types of companies share a common goal– to sell as many drugs as possible to make as much money as they can! This makes perfect sense–a company is only truly in business when it turns a profit!
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Posted on August 5, 2007 by BioJobBlogger

Mea Culpa!

I just returned from a 3 week holiday in Wales and England ( I highly recommend a visit to both countries) and discovered that the links that I posted to The Freelancer Forum in a recent post and in the links section of biojobblog were non-functional.  My apologies for the oversight!  Both links have been corrected and you can easily reach the freelancerforum website from biojobblog.

I will be posting several new pieces over the next week or so...so stay tuned!!!!

Until next time.........

Good Luck and Good Job Hunting!!!!!!!!!!!

 

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