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EF: Over the past four years since the spin-off of Organon, how would you describe the growth and development in your role within the organization?
FF: For me, this journey has been transformative, especially considering my career mainly involved working in my home country, Argentina. While I had experience with different companies, changing geographies brought a new set of challenges. Moving from the company we spun off meant managing different complexities, environments, and markets. The challenge was building a new culture. Many new colleagues transitioned in from large pharmaceutical companies, which are massive in revenue and employee count, compared to a company like Organon with significantly smaller figures. This shift needed altering mindsets and cultural norms, a process we are still navigating. The adjustment involved convincing people of alternative ways of doing things in a more agile way. Culturally, it has been an ongoing process of teaching. Despite the challenges, I am pleased with what we have achieved as a team in Mexico. We successfully positioned Organon in the awareness of crucial stakeholders, including government, healthcare institutions, media, and NGOs focused on women's rights. Organon, with its clear focus on health for women, stands out in the market, making up more than 35% of our portfolio. We have made significant strides in three and a half years, contributing to women's health innovation globally.
EF: Could you elaborate on the strategic significance of Mexico for Organon, considering factors such as volume, value, manufacturing, or any other aspects?
FF: There are multiple aspects to consider. Mexico holds a significant position as one of the top 10 markets for our company, both in terms of revenue and market participation. With a population of over 130 million, half of which are women, there is substantial strategic potential for our portfolio's growth in Mexico. The country also stands out globally as one of the fortunate markets hosting a manufacturing and packaging facility situated in Xochimilco. This facility becomes a game changer, altering how the country perceives the company, particularly compared to those solely engaged in commercial operations.
Given the rising importance of healthcare in business, Mexico benefits from its proximity to the U.S., offering a streamlined supply chain. As companies increasingly shift away from Asia, Mexico has become a prime beneficiary. Our manufacturing facility, currently exporting to various countries worldwide, is seeking an FDA good manufacturing processes certification to ship to the U.S., further enhancing our volume, investment, and employment.
On the commercial side, we are set to launch our groundbreaking postpartum hemorrhage device later this year, a significant cause of maternal death. This innovative device contracts the uterus to stop bleeding, potentially saving lives in critical situations during labor. Additionally, we are working on bringing other products to Mexico, including a treatment for migraine, a disease that disproportionately affects women. We are enthusiastic about contributing to women's health globally and look forward to the positive impact of our initiatives in Mexico.
EF: How does Organon contribute to the health of the Mexican community beyond pharmaceutical products, considering the diverse healthcare issues in the country, such as teenage pregnancies?
FF: We are actively involved in two impactful projects that address this concern. Three years ago, we started a project in the municipality of Xochimilco in collaboration with NGOs and local authorities to tackle the alarming rate of adolescent pregnancies, especially in the region where our manufacturing facility is located. We invested half a million dollars in education initiatives for adolescents, teachers, health practitioners, and parents. The goal is to measure the impact of education on reducing adolescent pregnancies, aiming for tangible results within a year.
Secondly, in the state of Yucatan, where the adolescent pregnancy rate is still significant at 66 (births per 1000 women), notably among native Mayan populations, we have signed a memorandum of understanding with the Yucatan government and the United Nations Population Fund, for a sustainable financing model. This collaborative effort involves private sector engagement, government participation, consulting, and NGOs to raise awareness and gather additional resources. The project encompasses three pillars: contraception accessibility, healthcare and education, and support for adolescent girls in finding employment and integrating into the formal economy. By addressing these multifaceted aspects, we aim not only to prevent adolescent pregnancies but also to contribute to the overall well-being and economic prospects of young girls and adolescents in vulnerable, remote, and native situations. These initiatives underscore our commitment to being a responsible corporate partner and making a positive impact on a significant issue affecting women in Mexico.
EF: What trends do you foresee shaping the future of executive leadership in healthcare companies, particularly in the context of Organon's hybrid model?
FF: About our digital transformation, we were initially a company entirely constructed in the digital realm. The process of launching products was seamlessly transferred from the company we spun off to a virtual environment, a significant achievement considering the accustomed traditional approach. A lot can be achieved virtually; however, we realized that certain elements are irreplaceable and vital for genuine human connection. Striking a balance between using digital capabilities and maintaining personal connections is essential. While we have learned much from the digital shift, the human touch remains irreplaceable, and finding a middle ground is crucial.
Regarding healthcare innovation, we can observe that many companies converge on the same focus, particularly targeting rare diseases with low incidence and excessive costs. This has led to a crowded landscape. There is an opportunity for a company to stand out by focusing on something different in the mid-term. We recognize the time and investment needed, particularly in developing women's health products. We see an opportunity to carve a distinct path in a domain less explored by others in the industry.
EF: As you approach the five-year milestone, what specific achievements or accomplishments do you expect to celebrate?
FF: In about three and a half years and looking ahead to the next year and a half, what I aim to celebrate with my team is a significant reduction in the number of adolescent pregnancies in Mexico. Currently at 44 per 1000, it would be a notable achievement if we can bring it down to 20 or 19. This is particularly crucial as Mexico has the highest rate of adolescent pregnancy among OECD countries. While traditional performance metrics matter, our primary focus is on being a women's health company. Our goal is to contribute to improving key indicators in women's health, which would be the most significant cause for celebration. The health of women is a cornerstone of society, as women play a crucial role in the well-being of entire families.
