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DewDiligence

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DewDiligence

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Wednesday, 07/26/2006 4:48:07 PM

Wednesday, July 26, 2006 4:48:07 PM

Post# of 252642
NBIX Dumps Salesforce

[Without Indiplon, they had nothing to sell. Zoloft, which NBIX had been co-promoting with PFE, is now off-patent.]

http://biz.yahoo.com/prnews/060726/law118.html?.v=31

>>
Neurocrine Announces the Release of the Sales Force

Wednesday July 26, 4:05 pm ET

SAN DIEGO, July 26 /PRNewswire-FirstCall/ -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX ) announced today the Company has determined that the Neurocrine sales force cannot be productively deployed this year, and as a result, has released the field sales organization. Neurocrine will incur a one time charge of approximately $5.9 million relating to termination of the sales force, eliminating ongoing 2006 sales force expenses by approximately $16 million.

"We have always been proud of our commitment to our employees and their families and are disappointed that events have led us to take these steps. Despite our best efforts, we have not been successful in acquiring a product which our sales force could promote. We believe that we assembled a group of highly motivated, committed professionals and we wish that our paths will cross again," said Gary Lyons, President & CEO of Neurocrine Biosciences.
<<

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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