Yep it’s Friday

Yep it’s Friday

Lately it appears Friday’s have become the day when wackiness goes overboard. Which when you think about it is not necessarily a bad thing given that weekend beckons. Yes, Happy Hour on Friday has become a must attend event especially for our chardonnay guzzling friends in France. Look at this, per a story on the in-Pharma Technologist web site;

“Sanofi says it will demolish a plant in Montpellier that has been left idle since it’s completion in 2011, citing its evolving biologics-focused portfolio.”

Per the story this never used facility cost $126 million to build.

While this may have nothing to do with the company’s struggling diabetes franchise it is indicative of how Sanofi (NYSE: SNY) operates. Yes, our good buddy Serge and his partner in crime Olivier are laying off sales reps, beheading management and spend millions on a facility that has never been used. Yet these two dance partners are racking in millions of dollars in salary and bonuses while they run this company into the ground.

But wait it gets better, if they proceed and buy their way into the diabetes device business, something they have been very public about the $126 million spent on this unused facility will seem like chump change. Instead of blowing millions of dollars they will be blowing billions of dollars. Now that’s something to brag about.

We haven’t seen this type of talent since our friends in Libertyville bought not one but two glucose monitoring companies and ran both into the ground.

Not to be outdone our friends in Switzerland took a billion-dollar franchise turned it into a million-dollar franchise and they aren’t done yet. After spending over a billion to buy one insulin pump company and a little over a hundred million to buy another they are finally going to launch the product from the million-dollar acquisition in the desperate attempt to save the billion dollar acquisition they ran into the ground.

Although they haven’t blown a billion bucks our friends in San Diego have shown you don’t have to be a major device company to blow a few hundred million. But like our Merlot guzzling friends in France management has been handsomely paid while they run the company into the ground.

Not be outdone our friends in California have proven that blowing a billion bucks isn’t as hard as one might think. Yep, come up with what is a good product, partner with an equally inept company and you too can turn one man’s vast fortune to ashes. What was that we said about the best way to accumulate a small fortune is to start with a big one.

And people wonder why we can be pesky and at times snarky. It’s not easy to remain calm while companies in this wacky world of ours continually blow billions of dollars. That about the only thing these companies are good at is losing money.

So, drink up everyone and enjoy the weekend.