Read the Conversation
Meeting highlights:
- Latin America’s Growth and Healthcare Challenges: Latin America is a key region for AbbVie’s growth despite political and economic complexities. Healthcare remains a priority, especially in Brazil.
- Innovation and Digital Transformation: Digital transformation is critical in improving healthcare. Brazil leads in adopting digital initiatives, aiming to enhance patient care and accessibility.
- Clinical Research and Diversity: Latin America’s diverse population is valuable for clinical trials. AbbVie seeks to expand research in the region, leveraging genetic diversity.
- Talent Development and Leadership: Developing regional talent is a priority, with a focus on global roles. AbbVie promotes initiatives like “Unlock Her” to foster female leadership.
- Portfolio Diversification and Pipeline: AbbVie’s portfolio has diversified, with key growth in oncology, immunology, and neuroscience. Over 30 new product launches are expected from 2025-2029
EF: What mission did you set for yourself when you were appointed to the AbbVie LATAM VP role? How has this progressed over the past two years?
FD: Last week, our CEO visited us in São Paulo, Brazil, marking his first trip since being appointed. This was a significant moment. His visit underscores our commitment to growth, particularly as Latin America continues to be a key expansion area for AbbVie. Although Latin America presents a complex environment, with its evolving political landscape, economic challenges in some countries, and intricate healthcare systems, healthcare remains a top priority in the region—especially in larger countries like Brazil, where it plays a significant role in the political arena.
Latin America is a young and dynamic continent where many things are happening simultaneously. Bringing impactful innovation to the region can be challenging, but it is also a huge opportunity. For example, the pharma sector is growing above the global average, with increasing demand for better treatments. In some countries, as more people gain formal employment, access to healthcare improves, which creates additional opportunities for healthcare companies.
Moreover, Latin America's mix of public and private healthcare systems offers a unique opportunity. Companies must cater to both sectors by delivering distinct value propositions for each. There is also considerable room for innovation across both segments.
To circle back to your original question, when I took on this role, one of my key priorities was to position Latin America as a growing region for the corporation—not just from a business perspective but in a broader sense. I want to emphasize that Latin America has a mission to drive business growth and provide talent for the corporation globally. Many talented individuals in Latin America are eager to take on roles within the region and in other geographies. This mission is critical to our strategy here at AbbVie—creating a talent pipeline that serves not only Latin America but the entire company.
At the same time, we are focused on implementing our corporate priorities within LATAM. As a global company, we have numerous initiatives worldwide, and there is a significant opportunity for us to adapt and execute these initiatives in Latin America.
One of the key initiatives we are focusing on is digital transformation. Like all industries, pharma is undergoing significant digital change, and we are actively working on how to implement this transformation. Integrating our face-to-face approach with a comprehensive digital strategy is a big part of this. We focus on strengthening medical education through digital initiatives and empowering patient associations and external stakeholders to make better decisions through digital interactions.
Many countries in Latin America are already embracing this digital shift. For example, in Brazil, digital initiatives within the healthcare system are a major priority for the current administration. They aim to reduce patient wait times and improve access to healthcare. There are also several efforts to ensure that all patient information is readily accessible to various stakeholders, which is crucial for enhancing care coordination.
In healthcare, patients often interact with private and public systems, so having a system where providers can access patient information in real-time is essential. It helps make better clinical decisions, and from the patient’s perspective, it allows them to own and control their health data in a centralized and accessible format. This is especially important in acute medical situations, where rapid access to accurate patient information can make all the difference in delivering timely and effective care.
This kind of transformation is already happening in Europe and other parts of the world, and ensuring its implementation in Latin America should be a priority. As a pharma company, we are part of the healthcare ecosystem and must contribute to making this happen.
Another strategic priority for us in Latin America is increasing clinical research opportunities. The region has a strong research landscape, with well-established medical centers and clinical research institutes across various countries. Additionally, the diversity of the population in Latin America is a significant asset, as it allows for a wide range of genetic backgrounds and patient types to participate in clinical trials, enriching the research outcomes.
Brazil, for example, has initiatives underway where the government and Congress are working to speed up patient enrollment in clinical trials, creating further opportunities for investment in research within the region.
EF: Given the diversity and complexity of the region, how do you evaluate the varying levels of technology adoption across the areas you manage?
FD: I believe there are distinct differences across the regions. For example, Brazil is a high adopter of digital transformation. If you look at the usage of platforms like Facebook and Instagram, Brazil ranks among the top globally. While adoption varies by country, overall, the use of digital tools, particularly within sales forces, is quite advanced across Latin America.
In the pharma industry, we face the unique challenge of being highly regulated, especially when it comes to accessing and securing information. While some may see this as an obstacle, it actually gives us an advantage, as it pushes us to develop more sustainable and robust solutions.
For the next decade, I foresee a hybrid approach where face-to-face interactions are complemented by digital strategies. We are conducting various trials and initiatives across different segments, some of which are pilots being tested in Latin America. Interestingly, in certain areas, Latin America is ahead of other regions in terms of digital transformation, and we are leveraging this to implement new proposals.
One key advantage for us in Latin America is that the region is accustomed to constant change, given the many challenges we face daily. This makes the adoption of new technologies and change management easier here compared to more conservative regions like the U.S. or Europe. This adaptability positions Latin America as a potential proving ground for digital initiatives—a concept we are exploring within AbbVie
Digital transformation is also significantly impacting patient health, particularly in terms of access to information. Physicians now have access to well-structured medical information from various sources, which is a huge asset. Additionally, there is an opportunity to enhance medical knowledge, especially in countries where there is a shortage of healthcare professionals. Digital tools can help empower non-medical personnel to provide initial care, especially in large countries like Brazil and Mexico.
It is also important to highlight the role of public systems in countries like Mexico and Brazil. These systems allow for the implementation of public policies, which can have a significant impact. In Brazil, for example, many digital initiatives are supported by the public healthcare system, and this is driving substantial change in certain areas.
For example, access to specialists and vaccination programs are primarily managed by the public system. Most vaccinations are administered through public healthcare, and by partnering with external stakeholders on such initiatives, we can achieve a significant impact in a relatively short period of time.
EF: Following the acquisition and the implementation of your diversification strategy, how has your portfolio evolved, and how is it balanced across your key areas of focus?
FD: Today, we have a more diversified portfolio, which is a success story. Five years ago, most of our sales were concentrated on a single product. Recognizing the need for diversification, the company made several strategic decisions, including the acquisition of Allergan to expand into additional therapeutic areas and increasing investments in areas like oncology, which is now a key growth driver for Latin America and the corporation.
We have a much more balanced portfolio with five core therapeutic areas: immunology, oncology, neuroscience, ophthalmology, and specialty products like anaesthetics. This diversification is important for spreading risk across multiple therapeutic areas and expanding the company's global presence. We are gaining momentum internationally, especially outside the U.S., strengthening our global position.
So, our portfolio has evolved in two important ways: therapeutically, by expanding into new areas, and geographically, by growing beyond the U.S. market.
EF: What are you most excited about that could have an impact on the Latin American region?
FD: I would say we are seeing positive developments across all areas. In immunology, several significant launches are lined up over the next few years. From 2025 to 2029, we expect nearly 30 new launches, including indications and products, with many coming from immunology. We will need to confirm this, but it’s an impressive amount of work ahead.
Oncology is another major focus for us. We are planning to expand our presence not only in hematology but also in solid tumors, starting as early as next year. Neuroscience is also a big area for us, covering a wide range of products and indications, from Parkinson's disease to psychiatric disorders and other neurological conditions. Within this field, migraine treatments will be a key focus, with new launches expected this year and next.
In ophthalmology, we have a strong business, with upcoming launches in areas like dry eye and glaucoma. In the future, there may also be opportunities in the retina, though that is still in the early stages of the pipeline.
Finally, we are identifying further opportunities within specialty care, particularly in immunology. Overall, as we look at our pipeline, there are numerous areas of opportunity. My commitment, along with the team’s, is to bring all of this innovation to Latin America. Of course, we will need to assess each opportunity and build solid business cases, but it is clear that we are entering a very active and exciting period for our region.
EF: How do you evaluate your collaboration with various regional regulatory bodies? What steps do you take to ensure access to the new molecules you introduce throughout the region?
FD: First of all, having a strong presence in Latin America is crucial, and this has been a priority for us for many years. We have invested significantly in the region, including a factory in São Paulo, as well as in clinical research. It is essential to have the right talent with the knowledge and expertise to navigate this complex environment.
Overall, I have a positive outlook. There is a strong sense of collaboration among regulatory agencies across Latin America, which allows them to learn from one another and share knowledge. This cooperation can help streamline processes, as regulatory assessments can be quite complex and resource-intensive. It is important to leverage existing evaluations to speed up approvals, as it is not feasible to have all the expertise on every subject.
Moreover, making data-driven decisions is vital for healthcare systems. There is still room for improvement in this area to ensure that patients have access to products that can significantly impact their lives. Research and economic evaluations play a critical role in facilitating these decisions.
In certain countries, like Mexico, the new administration is also focused on improving access to healthcare for underserved populations. This is a very positive development for expanding healthcare access to those who currently face significant barriers.
The healthcare systems vary widely across the region; for example, the situation in Colombia is quite different from that in Brazil, Mexico, and Argentina. It is essential to keep in mind this transformation in Latin America when considering investments or strategies for business growth in the region. That is why having a strong local presence is so important.
EF: There is a challenge in changing the perception of health in Latin America from viewing it as an expense to seeing it as an investment. What strategies can we implement to shift this mindset, and how are you leveraging your position as Co-Chair of FIFARMA to influence health initiatives across the region?
FD: To address the first question, measuring the impact of health investments is essential. For example, I have noticed here in São Paulo that very few people smoke, which can be attributed to significant efforts by the Brazilian government to create a smoke-free environment through public policy. This is just one example.
By measuring outcomes and establishing public policies based on data, we can start to shift perceptions about healthcare investments. A crucial strategy involves focusing on prevention, as most healthcare investments should prioritize this area. While we do have treatments available, preventing diseases is ultimately the best investment.
It is more challenging, but improving lifestyles—such as promoting better eating habits and encouraging physical activity—is vital. Governments should evaluate the impact of healthcare investments to understand how these initiatives not only enhance the quality of life and longevity but also yield economic benefits.
In many Latin American countries, where populations are still relatively young, there should be a focus on preventing diseases and ensuring equitable access to innovative treatments. This requires increasing investment in specific health areas.
It is crucial to have a comprehensive understanding of the disease landscape within each country. This allows for prioritization of investments in key areas, such as oncology or chronic diseases, based on regional health needs. Data and accurate information are indispensable for making these informed decisions.
EF: When you take the time to celebrate and reflect on your experience at AbbVie, what key moments stand out to you? Which achievements are you most proud of during your time with the company?
FD: From a company perspective, the growth of the business and its impact on millions of patients are significant reasons to celebrate. Additionally, seeing Latin America gain momentum and providing various opportunities for the corporation to grow has been rewarding.
On a personal level, I am particularly proud of my involvement in developing many individuals across Latin America. I have numerous examples of people who have been promoted and have grown within the corporation, and the impact I have had on their careers is the most remarkable memory I have from my ten years here.
EF: Is there a final message you would like to give to our readers?
FD: One key point I would like to emphasize is our company culture at AbbVie. It is crucial for us to motivate our employees and ensure we have a diverse workforce. We have made significant progress in Latin America, with nearly 50% of our senior leaders being women. This was a goal we set years ago, and we are committed to making it a reality.
Creating an organization that reflects the diverse populations of Latin America is essential for us. This diversity is a competitive advantage because it fosters a culture of respect, recognition, and opportunity. We want young people to see AbbVie as a place where hard work is rewarded with advancement.
In Latin America, we face many challenges, but as leaders, we have the power to make a difference in our respective areas. If each person embraces this mindset, we can create substantial change.
I have a personal commitment to this mission, and I am proud to be part of an organization that supports it. For example, we have a program called "Unlock Her," aimed at developing female leadership, which originated in Brazil. This initiative focuses on unlocking the potential of our female talent by addressing the unique challenges they face in advancing to higher positions within the company. These efforts are just some of the ways we're working to enhance the diversity of our workforce.
