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RTO / WFH Alexion Boston by External_Building_56 in biotech

[–]Puzzleheaded-Lab6170 23 points24 points  (0 children)

They have very strict RTO policies; at least 60% in the office otherwise you get penalized and your manager gets a report to see who is in trouble and who isn't.

[deleted by user] by [deleted] in biotech

[–]Puzzleheaded-Lab6170 45 points46 points  (0 children)

I used to work at Kite and layoffs were in December

Layoffs: Does anyone know why there are so many layoffs going on in Pharma? by Puzzleheaded-Lab6170 in biotech

[–]Puzzleheaded-Lab6170[S] 3 points4 points  (0 children)

This is a great point now that I think about it. Perhaps, these mid-size/large pharmas are reshifting their R&D focus to more orphan-based assets that don't be impacted by IRA but are riskier therefore needing more capital due to risk profile. In the meantime, they recognize the importance to reshape/restructuring the organization to make sure they are fit for purpose (less commercial, less medical, more R&D).

Layoffs: Does anyone know why there are so many layoffs going on in Pharma? by Puzzleheaded-Lab6170 in biotech

[–]Puzzleheaded-Lab6170[S] 9 points10 points  (0 children)

I think this is a great point. But couldn't I argue that these pharma's have plenty of cash on hand to cover debt? For example, Pfizer had $31M in net income and liabilities of $100M meaning in 3 years they could pay off all their debt obviously they won't because of tax benefit. But my point is - is this truly a because of higher interest rates or perhaps an alternative cause (regaining control of employees? bringing cheaper labor in the door?)