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EF: What are the key priorities on your agenda right now, and what can we expect from Glenmark Spain in 2024?
JL: We've got a few top priorities on our agenda. First, we aim to expand our presence in retail pharmacy and bring more clients on board. Next, we're building up our portfolio to compete better in generics. Finally, we're diving into the derma space, especially with the exciting launch of Winlevi clascoterone cream for acne. This move will solidify our position as a specialty company focused on dermatology.
EF: What makes Spain a strategically important region to Glenmark as a global company?
JL: Spain holds a strong position as the fifth-largest European market in value. Its healthcare system is advanced and covers unique treatments for various diseases. We've been a leader in health technologies and a powerhouse in the European Union for the past 20 to 30 years. This region is strategic for Glenmark; it's not just about meeting local requirements but being an active player with a global presence. Each country is unique, but having a presence in Spain is key to being recognized as a global player.
EF: How did your extensive clinical and business studies education help you navigate the pandemic and the company through this period? What are the biggest lessons you have learned?
JL: The pandemic taught us valuable lessons. Firstly, we discovered how close we could get to our customers and employees, even without face-to-face interactions. We strengthened our ties with clients and partners like never before. Secondly, we faced challenges but managed to navigate the storm without losing hope. Despite tough times, we achieved things we once thought impossible. Thirdly, collaboration became key, not only within our team but across different stakeholders in the healthcare system. We actively supported authorities, sourced products efficiently, and ensured patients received timely treatments. This experience shattered stereotypes about traditional working methods, showing that remote collaboration is possible.
EF: What is Glenmark's role in looking for partnerships and acquisitions? How are you looking to partner with other sector stakeholders to improve yourself as a specialized company?
JL: We're active in this area, both locally and driven by our European business development team. I completely support the remarks made by the Pfizer Germany country manager. The pandemic was a moment where competitors came together to help each other out. Despite being neck and neck in the market, we picked up the phone, set aside competition, and joined forces to help patients.
EF: Can you elaborate more on your portfolio in Spain and how you are expanding it? And what are your plans for the Spain-specific product line?
JL: At the global level, our key focus areas are respiratory, dermatology, and oncology. Locally, we're aiming to advance specifically in oncology and dermatology. We have a portfolio covering cardiovascular, tropical diseases, gastro, oncology, and dermatology, which will drive the company's growth in the coming years.
EF: From your perspective as the leader of a company specializing in generics, what can be done to enhance the penetration in Spain to catch up to the rest of Europe?
JL: There was a significant shift in generic penetration around 2012 due to a change in the law, erasing the price difference between generics and innovative drugs. To boost generic penetration, a few measures come into play. One is to reinstate the price difference between the innovator and Generics, while another favors generic dispensing over innovative drugs (a sort of exclusivity over a limited period of time). The reference price system plays a role in keeping essential generics affordable. Some innovative drugs, despite being at a disadvantage economically, aren't generic due to pricing. Balancing savings and sustainability is crucial for the system and generic drug manufacturers.
EF: If you had to create a roadmap to a sustainable and prosperous healthcare system in Spain. Which three base pillars will be the most important?
JL: The first pillar and our primary focus is on patients; they are the core and foremost pillar for sustainability. The second pillar involves collaboration between the private and public sectors to speed up innovation: new therapies have to enter the market to improve the lives of those who are in need. The third pillar is ensuring access, which means ensuring treatments are available and priced appropriately.
EF: How do you assess access from a Spanish perspective, and what is your definition of access?
JL: Defining access in a few sentences is complex. New medical treatments often face delays in funding and investment, later on affecting the availability of affordable, quality generics. For generics, it's about being paid fairly for the products we bring to market. Some medicines are less profitable than others. Balancing this is crucial to prevent shortages across the system. The Ministry of Health has a new pricing decree on the agenda. I hope this administration can push it forward while collaborating with stakeholders. As part of the pharmaceutical industry, we play a vital role in the healthcare system's success.
EF: What role do you think digital technologies play in terms of access? What initiatives is Glenmark planning for transformation that will allow you to bring more generics to more patients?
JL: At the corporate level, we're exploring artificial intelligence in various projects. While I can't comment on the digital knowledge gained during the lockdown, we have embraced it locally, and it's making a difference. We've adapted to connecting with healthcare professionals digitally and fostering engagement. We're also running local projects using AI for routine tasks, with an aim to compare and identify benefits. This shift isn't just operational; it's also impacting R&D and helping companies achieve targets faster. AI seems to be the driving force across various areas, elevating efficiency and advancements.
EF: What would you like to celebrate with your team, and if you had to give a speech, what would it be as you look back? What are the things you are most proud of that you accomplished as a company this year?
JL: There's a lot to celebrate with my team. Firstly, how successful are working together and the individual performance. We've achieved a lot despite many challenges, including geopolitical situations and tragic events. We leave no stone unturned, going above and beyond to hit our targets. Our teamwork is something special. Decision-making is collaborative, emphasizing partnership, yet we still emphasize responsibility and accountability. And, of course, the continuous achievements make me incredibly proud of my team and their dedication to getting things done.
