Read the Conversation
EF: What are your current priorities, and what challenges or opportunities are you encountering this year in Spain?
MP: At Fresenius Kabi, we are currently undergoing a transformation known as Vision 2026. This framework operates with a clear 3 plus 1 strategy that we are implementing across all countries, including Spain. Our strategy involves expanding nutrition into new countries where we are not yet fully established. We specialize in clinical nutrition, including enteral and parenteral nutrition, and we aim to broaden our presence in this area. Additionally, we are focusing on biopharmaceuticals, particularly biosimilars, with three products already on the market and plans for further expansion.
We are also investing in MedTech and are committed to growing and building resilience in our volume-driven IV business, encompassing standard IV solutions and generics, especially in oncology, anesthesia, and antibiotics. We need to invest in the healthcare market segments that show increasing demand and promising future trends. It is crucial to prioritize areas where market growth is evident and ensure our volume-based business remains resilient despite challenges in the supply chain and demand fluctuations.
To achieve this, we need to focus on delivering high-quality and affordable products that contribute to the sustainability of healthcare systems. By addressing these needs, we aim to provide high-quality, cutting-edge products to support the long-term viability and effectiveness of healthcare services. For example, we just launched the first biosimilar of a particular molecule called tocilizumab. We launched it in Spain, a market where no one else has launched it. This will contribute to the sustainability of the Spanish healthcare system. This is the overall strategy that we are applying to all of our business units.
EF: What is the importance of biosimilars for sustainability, and what is the strategic significance of the acquisition of mAbxience?
MP: We are proud to have a stake in mAbxience, a company focused on producing biosimilars. They have a manufacturing plant in León (Spain), and we are working with them to establish a production and development foothold for ourselves in this market. The development side of biosimilars is important because you have to have a good pipeline of products being developed due to the complicated and costly nature of biosimilar production. Having a stake in a company that is already in the market is a big step for us and is part of the 3-plus-1 strategy.
EF: How would you describe the strategic significance of the Spanish market to Fresenius Kabi?
MP: I would like to highlight several key factors, some of which are independent of Fresenius Kabi. Firstly, the market size in Spain is substantial, driven by factors such as population size and GDP. Spain ranks among the top healthcare markets in Europe.
Secondly, Spain boasts a well-established healthcare infrastructure with a robust network of hospitals, clinics, and highly trained healthcare professionals. This provides a strong foundation for Fresenius Kabi to enter the market and collaborate effectively with healthcare providers. Additionally, Spain benefits from a stable regulatory environment, which is conducive to our operations and facilitates the distribution and adoption of our products within the healthcare system. These factors collectively position us for success in the Spanish healthcare landscape.
The market size, infrastructure, and regulatory environment are indeed favorable factors. However, the demand aspect is crucial because even with favorable conditions, the public must want and need our products. This is important as it will help us address pressing healthcare needs, particularly for chronically and critically ill patients. Spain, like many other European countries, has an aging population, leading to increased healthcare requirements due to longer life expectancy. This sustained demand is evident across various product categories, including standard solutions, antibiotics, oncology products, generics, MedTech, and biosimilars tailored for chronic conditions.
Spain boasts excellent universities, providing a pool of local talent for sales, marketing, and technical roles, which supports our operations without the need to rely on importing talent from elsewhere. This local expertise enhances our ability to conduct business effectively in the Spanish market. Having a strong presence in Spain is essential because the market is highly competitive with numerous providers. Without a robust footprint in Spain, we would miss out on significant opportunities to reach our customers and effectively engage with the healthcare market. Our established presence speaks for itself, and it is easy to convince headquarters to pour more resources into the country.
EF: Is increased demand and responsibility for chronic patients due to high life expectancy a new trend?
MP: This is certainly a trend, and we are also seeing a trend of patients becoming more active in their role in getting the care that they need. We are also focusing on understanding the evolving market landscape beyond just products. There are other critical areas that we must consider because they will play a significant role in the future. One such area, particularly emphasized in Spain, is patient-centric healthcare.
Patient-centricity entails placing the patient at the core of healthcare operations, requiring hospitals and healthcare providers to adopt strategies that prioritize patient well-being. For example, we have developed patient support programs aimed at enhancing patient care and experience. When biosimilars arrive in the market, the prices go down and contribute to the stability of the system. This results in cost savings and more patients having access to these high-cost treatments.
Ultimately, more patients can now undergo these treatments. For example, patients with autoimmune diseases require support because their health outcomes are heavily reliant on their adherence to prescribed medications. Autoimmune conditions are chronic and lifelong, requiring ongoing treatment adherence for optimal outcomes. Ensuring patients consistently adhere to their prescribed medications is crucial for managing these long-term diseases effectively.
We created a patient support program (Kabicare) so that we could help patients understand their illness and how to deal with it. This program is focused on putting the patient at its center. We also created another program called Nutrihome, a clinical nutrition homecare program that is helping patients leave the hospital and be able to go home.
For instance, individuals experiencing intestinal failure after oncology treatment may require hospitalization solely for nutritional support, such as parenteral nutrition. We offer the patient the option to go home, and we provide them with nutrition and ancillary needs such as pumps and tubes. We also include the nursing service so that they can go home and have 24-hour access to it. The patient remains at the center, and we work with their hospital and doctors in order to provide this service.
In the future, it's not just about supplying products to the market; it's about offering solutions that healthcare professionals require to effectively treat their patients. Our ultimate mission is to support healthcare professionals in delivering the necessary care to patients. This focus on advancing patient care is integral to our mission. Outpatient nutritional care represents a win-win situation for all involved. It is more sustainable for healthcare. It is much cheaper to have patients at home. Secondly, it increases the patient's quality of life immensely. Knowing that there are patients who benefit from our services makes what we do worthwhile.
EF: How are you working with different stakeholders to leverage common spaces like Fenin and the Barcelona Health Hub?
MP: In the healthcare sector, it is crucial to consider the entire ecosystem. Nowadays, everyone talks about ecosystems—not just the customers, hospitals, and patients, but everything around them. Collaboration with various groups, including public and private entities, medical societies, and industry groups, helps strengthen the healthcare system collectively.
We actively participate in industry associations that are aligned with our products. We are part of Fenin, an association for MedTech, AESEG for generics, FarmaFluid for standard solutions and parenteral nutrition, AENE for enteral nutrition, and BIOSIM for biosimilars. We also engage in innovative collaborations, like our recent partnership with the Barcelona Health Hub, which promotes healthcare innovation and technology transfer. This initiative fosters digital advancements and new ideas within the healthcare system.
By participating in such endeavors, we contribute not only to our growth but also to the advancement of a more patient-centric and sustainable healthcare landscape. Technology plays a significant role in achieving these goals, which is why we find such collaborations invaluable.
Our involvement in this ecosystem of startups, public entities, and private corporations facilitates investments and fosters innovation. For example, my team and I have a meeting scheduled next week to further explore these opportunities. We will hear presentations from these startups and identify the projects that could be interesting for Fresenius Kabi. Our final aim is to improve people's quality of life. New technology or solutions need to have a purpose and that purpose needs to improve the quality of life for patients.
EF: How do you find, attract, and retain talent that is aligned with the company’s current vision
MP: We have recently been ranked number 37 among the top 100 companies by Actualidad Económica. Additionally, this year, we are pursuing certification as a Top Employer. Last year, around six countries achieved this certification, and Spain is poised to join them this year. These certifications signify our ability to attract and retain talent effectively. To achieve this, we focus on offering engaging and challenging projects to our employees, making them feel integral to our shared mission.
Our company's mission is more than just words on a wall; it is something we embody every day. Recruitment is an important aspect of this strategy. We prioritize hiring the right individuals and then invest in retaining them by providing stimulating projects, development opportunities, and favorable working conditions. Furthermore, our location offers unique amenities and perks. These perks contribute to our overall approach to attracting and retaining top talent.
In addition to professional development, we prioritize social engagement and community involvement to create a holistic experience for our employees. We actively participate in volunteer work with associations that support disabled individuals, and we also participate in events like book signings for Sant Jordi, which is Book Day in our region. We also organize activities such as photography contests, tennis or paddle tournaments, and other social events. These initiatives complement the challenging and rewarding projects we offer, providing a well-rounded experience that fosters personal and professional growth.
This combination of engaging projects, social activities, and ongoing training creates a fulfilling experience for our employees. Recruitment plays an important role in this process. We focus on hiring individuals who align with our company culture and values, ensuring that they contribute positively to our dynamic work environment.
EF: If you had to create a roadmap for the future of healthcare in Spain for the next 5 to 10 years, which would your three base pillars be?
MP: One crucial pillar is research and development, which is essential for sustainability. Investing in innovative and cost-effective healthcare solutions, including products, devices, and services, is vital to address current and future unmet needs.
The second pillar is collaboration with healthcare stakeholders. Working closely with healthcare professionals, institutions, government bodies such as the Ministry of Health, and industry associations like the Barcelona Health Hub is necessary. Collaboration is key to advancing healthcare initiatives effectively.
The third pillar is sustainability. Sustainability goes beyond environmental responsibility. It is imperative to prioritize sustainability measures and minimize ecological footprints. For instance, our goal is to achieve carbon neutrality by 2050, requiring significant investments and collective efforts across industries to achieve this global objective. In conclusion, these three pillars—research and development, collaboration with stakeholders, and sustainability—are foundational for the future of healthcare.
