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EF: During AMIIF’s Innovation Week, you were honored with an award. How does this recognition reflect the work carried out by Alfasigma?
VD: I was moved, surprised, and honored that AMIIF recognized our contribution toward developing innovation in Mexico's pharmaceutical industry. It is great to be recognized by colleagues. We have been members of Amiif for thirteen years with a growing participation in the decision-making of our trade association. The award perfectly represents the correlation between our contribution to Amiif’s success and our market penetration and positive commercial outcomes in Mexico. Of course, this has been possible thanks to a talented management team that has supported me along the way.
EF: Since our last interview during the pandemic, have your views on remote work and telemedicine shifted? How is Alfasigma adjusting to life after the pandemic?
VD: Our sector's reaction to the pandemic was excellent. However, we recognize the need for a more empathetic approach when engaging with doctors. It is evident that doctors were not adequately protected from COVID-19 exposure, and they needed industry, private organizations, and NGOs to provide support. This has led to a positive shift in the pharmaceutical industry towards more empathetic and socially responsible messaging directed towards doctors, patients, and communities.
Even though the industry did a marvelous job responding to a worldwide crisis, creating a vaccine in record time and saving numerous lives, there is a lack of recognition from society and certain authorities. We provided value and benefit to the patient, and our response to the crisis through social responsibility programs made me very proud to work in the sector.
Another big topic that we have been grappling with is artificial intelligence. AI gained relevance much sooner than expected, with technologies like ChatGPT already in use by 2023. This shift has altered our approach and needs a forward-looking perspective. AI is now extensively used in R&D, particularly in the development of new molecules. However, responsible usage is paramount, requiring a long-term approach that benefits patients and doctors alike. While our industry has evolved, unresolved issues like this will take time to address fully.
EF: Are all these new developments, particularly in tech and AI, affecting Alfasigma's long-term strategic direction in Mexico?
VD: Yes. In the past, knowledge was a competitive advantage; today, the speed of sharing knowledge will make a difference. We are working on making knowledge transfer faster and improving documentation practices for the betterment of the healthcare community.
EF: Are you optimistic that in 2024, Mexico will take advantage of the opportunities nearshoring offers?
VD: Despite being linked to political decisions and security matters, nearshoring will keep increasing in Mexico and benefit the country when it comes to knowledge transfer to Mexican professionals and opening new businesses. The future looks promising, as many new companies are already setting foot in Mexico. The nearshoring trend involves not only American or European players but also Indian and Chinese companies opening manufacturing sites closer to the US market.
EF: Can you elaborate on how Alfasigma is leveraging cooperation between Italy and Mexico?
The Italian Chamber of Commerce is trying to facilitate and increase the exchange between Italy and Mexico, motivating Mexican companies to enter the Italian market and, conversely, encouraging Italian markets to come to Mexico. As a company, we want to continue investing in Mexico and are looking to create opportunities as we increase our presence here. We see the potential of this country and are trying to promote Mexico to Italian companies so they can take advantage of this market’s room for growth.
EF: What is Alfasigma´s strategy for mitigating risk? What challenges have you identified?
VD: While we acknowledge the financial challenges many companies face, our strategic focus at Alfasigma is to minimize reliance on public tenders, particularly during election years. As a primary care business, we rely on private sales, which allows us to maintain stability and flexibility in our operations. Although challenges persist in areas such as introducing new products and navigating regulatory procedures, we remain optimistic about Mexico’s evolving market landscape.
EF: How is Alfasigma translating its portfolio to Mexico’s healthcare needs?
VD: Reflecting a global trend, many companies are shifting from primary care to specialty and rare disease products. Over the next decade, we anticipate significant innovation in oncology and mental health, as well as a consolidated focus on personalized medicine driven by emerging technologies like gene editing.
Aligned with industry developments, Alfasigma has adjusted its strategy and is transitioning into a high-specialty company. As a medium-sized firm, we understand the importance of specialization and chose a narrower focus as we strive to excel in the gastro area.
In the forthcoming years, we plan to solidify a new business model and expand into high-specialty products. With recent acquisitions of companies in the United States and Europe serving as our entry points into specialty product markets, we are already advancing several projects. Nevertheless, we will continue to operate in the primary care market in Mexico and Latin America, recognizing its significant need in the region.
EF: How do you think AI can help improve research and development processes?
VD: New AI tools introduced recently are transforming healthcare, aiding in tasks like phase tomography to diagnose cancer stage and recommend tailored treatments, promising significant benefits for patients. There will be failures along the way, but we are on the threshold of a healthcare revolution called artificial intelligence. I belong to a fortunate era that has witnessed two major shifts: space exploration and AI development. The changes will be mind-boggling, and it is the next generation that will see the fruits of these revolutions.
EF: Could you state the ingredients that make Mexico a life science powerhouse, an innovation hub, and a market worth investing in?
VD: Mexico is a profitable investment destination worth focusing on as its market continues to grow. Despite its backlog in approval processes, Mexico is a leader in bringing innovation to the market. The country is doing well at a macroeconomic level and is a member of T-MEC, the North American Free Trade Agreement, which means well-respected and internationally adhered-to rules protect Mexico. Though challenges may arise, the legal framework remains powerful.
We have educated, prepared, and talented personnel, price freedom, and means to get financing. The potential is high, and opportunities and long-term perspectives remain positive.
EF: A hypothetical question: In this election year, what would be your primary focus if appointed as the next Minister of Health?
VD: I would advocate for the new government to prioritize education, healthcare, security, and promoting nearshoring. Historically, investing in education and healthcare has proven effective in enhancing workforce competitiveness and quality of life. Strengthening these sectors can provide people with greater opportunities and lead to a more sustainable existence. Additionally, I believe in adopting a more proactive approach to attract investment to Mexico, particularly in the nearshoring industry. Addressing security concerns is paramount to showcasing Mexico as an attractive hub for innovation, business, and healthcare professionals.
EF: Do you have any final message?
VD: Mexico is a great land with tremendous opportunities, not just from an economic point of view but also socially and culturally. If I were an investor in Latin America, Mexico would be my first choice.
