LEO Pharma has embarked on an ambitious strategy with a long term view on strategies and structures.
A large part of this has been a geographical expansion shifting from a largely partner centered model outside Western Europe, to a LEO Pharma owned and controlled sales and marketing operation. This also involves a number of repurchases of licenses as well as acquisitions of new products. As part of this global strategy LEO Pharma has also made use of the Life Science Ambassador Program to deliver in-depth analysis and map out opportunities in the Boston-area, US, and Vancouver, Canada.
– We have entered into a Cooperation Agreement with the Ambassador Program with the aim of identifying product and technology sourcing opportunities for LEO Pharma within dermatology, says Jørgen Finnemann, Business Development Manager at LEO Pharma.
– Of course, in LEO Pharma we already have vast knowledge of the markets in the U.S., Canada and Japan, not least in relation to sales and marketing. But the Ambassador Program can help us to identify new, interesting projects within biotech companies and universities. Here the Life Science Ambassadors have networks and contacts that are very advantageous to draw upon. It can be difficult to spot and understand new interesting research by going to conferences or doing searches on the Internet; this requires field research and personal contacts. This is the advantage of the Ambassador Program, says Jørgen Finnemann.
He explains that the mapping for LEO Pharma has covered biotech companies with less than 100 employees.
– We know the larger biotechs on the market, so we wanted to focus on businesses with fewer than 100 employees including newly established biotechs.
LEO Pharma has now received reports from the Boston-area, U.S. and Vancouver, Canada.
– It certainly looks interesting and we are very pleased with the reports. There is, as we had expected, a number of companies we knew in advance, but there is also some very interesting new information that we now have to look into, says Jørgen Finnemann.
Next step is to use the Ambassador Program in the Japanese market.
– We have some knowledge of the Japanese market but we will also in this market take advantage of the network of the Life Science Ambassador. In Japan we will especially focus on scouting for licensing opportunities and possible new research collaborations, says Jørgen Finnemann. He points out that the use of the Ambassador Program has been easy to handle for LEO Pharma.
– From the very start we have had an agreed minimum number of reports of universities and biotechs, fixed deliverables, a fixed price and fixed dates for interim and final reporting. It has throughout the process been very easy to handle for LEO Pharma.
Facts about LEO Pharma
Founded in 1908, LEO Pharma is an independent, research-based pharmaceutical company. LEO Pharma develops, manufactures and markets pharmaceutical drugs to dermatologic and thrombotic patients in more than 100 countries globally. The company has its own sales forces in 61 countries and employs more than 4,600 employees worldwide. LEO Pharma is headquartered in Denmark and is wholly owned by the LEO Foundation. For more information, visit www.leo-pharma.com.
Source: Medicon Valley Alliance, 14.12.2011
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