Read the Conversation
EF: As you lead Sandoz in its first full year as an independent company, what is your mission for 2024?
EL: Our goal for 2024 is to maintain our commitment to providing Mexican patients with access to our products. Our primary focus is strengthening our position as an independent company, and we recognize that our people are the key to our success.
We aim to solidify our foundation further and will continue our efforts to launch new products. In the generic industry, our most significant accomplishment lies in introducing new medications to help a broader range of patients.
EF: What is your access strategy for Mexico, and how are you tailoring your portfolio to cover the acute healthcare needs of the region?
EL: Sandoz’s extensive portfolio is a big win, as it gives us the flexibility to choose specialties, INNs, or branded generics.
Our primary strategy in Mexico focuses on branded generics, aiming to establish patient trust for safety, efficacy, and quality. We strive to create brands priced 40-50% lower than innovators, ensuring more patients can access our products. Our key approach involves being the first to market, a strategy that has brought us significant success in the Mexican market in recent years.
EF: What main therapeutic areas are you focusing on, and what others are you looking to explore?
EL: We are the top biosimilar company globally. In Mexico, we have introduced six biosimilars, three of them in the last 18 months. Our recent focus has shifted to specialty drugs like the antirheumatic drug Adalimumab, a top-selling medication worldwide, along with Etanercept for arthritis and Rituximab for autoimmune diseases and certain cancers. These additions to our portfolio have significantly improved patient access, especially considering the high cost of these medicines. Looking ahead to 2024, given Mexico's ranking in the top ten for diabetes cases, our main focus will be cardio-metabolic products. Recently, we launched Sitagliptin Metformin, tapping into a substantial market. We are excited about the opportunities ahead as we continue to give valuable options to Mexican patients.
EF: Could you elaborate on Sandoz’s strategic partnerships in Mexico to keep advancing your products throughout the country?
EL: Our primary focus is on the private market, putting our trust in prescriptions and physicians' decisions for their patients. While we occasionally explore opportunities in the institutional market, our main emphasis remains on creating trusted brands accessible to patients in the private sector. In the public setting, we participate when there is a chance, especially if we can be the first to market.
A close relationship with physicians goes beyond the point of just selling. Regarding antimicrobials, for example, we emphasize responsible prescription. We have invested significantly in raising awareness among doctors about the importance of reasonable use through round tables focused on antimicrobial resistance and participating in infectology medical congresses.
EF: How are you leading your team into a standalone company and consolidating a new work culture and identity for Sandoz?
EL: The generic market operates differently from the innovative sector. In generics, agility is key. We need to be ready when opportunities arise, for example, during new tenders or product launches. Our biggest challenge was adapting to this need for speed. We needed a mindset shift to break barriers and accelerate the processes hindering our ability to meet market demands.
Our company's dedication to patient care is evident in the testimonials we receive from those who were once unable to afford treatment but now can. This commitment extends to cost savings on the institutional side. We have the right message and determination to continue making a positive impact.
The innovative market typically follows a fixed approach: launching a brand with set pricing and messaging. However, at Sandoz, it is refreshingly different. My previous experience in Chile involved a portfolio that differed significantly from what I handle now at Sandoz, Mexico. The need for agility complements this independence. As an independent company, we can respond to opportunities much faster.
EF: How would you rate Mexico as an innovation hub, and how do you think Sandoz has leveraged the country’s capacity to develop improved healthcare solutions?
EL: While we do not manufacture in Mexico, Sandoz invests about 10% of global sales in R&D. Our business is divided into small molecules and biosimilars. We prioritize biosimilars because they address the needs of a broader patient base. In Mexico, we conduct bioequivalence studies as required by law, aiming to be the first to market. Notably, we are the only company with six successfully launched biosimilars that are performing well in the market.
Mexico boasts top-notch talent. At Sandoz, we have established a service center, employing around 150 people to serve the Americas. We have been performing well, and there are plans to expand operations further in Mexico. One initiative we have undertaken is offering free training courses to physicians preparing for residency exams.
We are committed to investing in education and leveraging Mexico's talent pool to drive innovation. On an internal level, we strongly believe in developing our people, providing training, instilling passion, and fostering leadership within the company. Our investment in talent is evident, with a rotation rate of less than 13%, reflecting our commitment to the growth of our team.
EF: What pillars do you suggest for building a sustainable structure in Mexican healthcare?
EL: The first pillar is to invest in products with reliable efficacy and quality, ensuring patients can trust the medicines they take. The second pillar is improving public/private collaboration. While efforts have been made, we focus on developing a comprehensive and trustworthy service. We aim to make a significant difference for all Mexican patients by strengthening supply chains and public health services. As a generic company, our mission aligns with contributing to the greater healthcare landscape, and we are working hand in hand with other stakeholders to achieve it.
EF: What future do you see in Mexico, and what is Sandoz’s final message as a standalone company?
EL: Our clear mission is to be the number one generics company. We focus on being the first to market as soon as a patent is disclosed. With ten biosimilars already in our portfolio worldwide, we have tripled the number of biosimilar assets in our pipeline over the past five years. Our pipeline now comprises a total of 24 molecules, including three high-value upcoming launches. In Europe, we are already the leaders by a significant margin, and in Latin America, we see a substantial opportunity to achieve the same.
Sandoz is gearing up to launch 7-8 molecules annually. This marks a significant opportunity for Sandoz Mexico, and I am confident our team can capitalize on it.
As a standalone company, Sandoz has the right people, culture, and an outstanding portfolio to achieve significant growth. Our daily emphasis on patient-centric work sets us apart. In five years, I see us celebrating achievements driven by our people, culture, and portfolio, which have consistently made us successful.
