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Conversation highlights:
Amgen established its commercial affiliate in Argentina in 2018, starting operations in 2019, following years of clinical trial activity, and reclaimed products previously managed by local distributors.
Juan highlighted Argentina’s strong clinical research ecosystem, noting that Amgen has risen from around 12th to 7th globally in its clinical trial rankings, with ambitions to reach the top five by the end of the year.
He emphasized that Argentina’s highly trained medical professionals and strong public education system make the country particularly attractive for multinational clinical research.
Beyond innovative medicines, Amgen has differentiated itself in Argentina by introducing high-quality biosimilars approved by regulators such as the FDA and EMA, helping improve access and funding sustainability.
Juan stressed that Argentina’s fragmented healthcare system, with more than 300 payers and no centralized HTA process, requires complex one-by-one negotiations, making portfolio strength and payer relationships critical for success.
EF: Could you give us an overview of how Amgen Argentina has evolved since starting operations in 2018?
JMP: We established our commercial affiliate in 2018, and after a year of preparation, we started our commercial operations in the country. Initially, we recovered 4 products from local distributors who had been managing them in the market, so we didn't start from zero. However, our presence in Argentina began much earlier, with clinical trials starting about 12 years before the commercial launch.
Argentina is a major hub for clinical trials across all multinational companies, not just Amgen. When we started the affiliate, Argentina was outside the top 10 countries in terms of patient enrolment in AMGEN´s internal ranking. We've steadily climbed to 7th place last year, and our goal this year is to finish in the top 5 countries globally. We excel in patient recruitment thanks to our well-trained professionals, high-quality investigation sites, and the strong public education system that prepares physicians to participate in clinical trials.
On the commercial side, we launched in 2019 with 4 products focused on hematology and oncology. Two of those remain among our biggest products today. Since then, we've expanded across different disease areas. One of our greatest contributions has been bringing not just innovation, but high-quality biosimilars approved by the FDA and EMA to Argentina. These biosimilars are produced at the same facilities as our innovative portfolio. Having worked in access previously, I can say that Amgen is the first company to bring both innovative medicines and funding solutions to support that innovation. This addresses the universal challenge of having excellent products that deliver real value in outcomes like overall survival, progression-free survival, and quality of life, when affordability remains a barrier. We're the first multinational company to bring this dual approach.
This strategy has significantly strengthened our relationships with payers. In Argentina, we negotiate on a case-by-case basis, in an ecosystem with more than 300 payers. Our commitment to both cutting-edge biotechnology for serious diseases and system sustainability through biosimilars has positioned us well. We say we brought biosimilars in an innovative way, creating space and resources to fund innovation. Our goal is to ensure our products reach the right patients at the right time, with physicians feeling confident that patients will receive their prescribed treatments promptly.
EF: What makes Argentina strategically significant to Amgen as a global organization?
JMP: Argentina represents a unique combination of factors that make it essential for an innovative company like Amgen. First, we have a huge clinical trials presence in the country. More importantly, the Argentine system is willing to recognize the value of innovation. While they're currently struggling with resource constraints due to the additional costs that innovative treatments impose for certain diseases, the fundamental willingness to recognize the value of innovation remains. Argentina provides an excellent environment for innovation, from the very beginning with Clinical Trials, and once the product is approved by the regulatory agency. Based on this, if you're one of the top 10 companies working on the innovation side, you have to be in Argentina.
Over the past couple of years, we've seen positive macroeconomic developments, making the country more predictable and attractive to international investors. This is reflected in our significant growth in both business and clinical trials, which represents real investment and strengthens our commitment to the country.
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The economy is moving in the right direction. While inflation remains higher than expected, when you consider we were discussing 200% inflation three years ago, and now we're talking about a figure around 20%, that's ten times lower. The trends are moving the right way.
EF: Could you give us an overview of your portfolio and the exciting developments coming up for patients?
JMP: Our main focus in Argentina is hematology, oncology, and rare diseases. We launched our first treatment for rare diseases in November 2024, a biosimilar, with indications in conditions like paroxysmal nocturnal hemoglobinuria, Atypical hemolytic uremic syndrome, and NMOSD. This was our kickoff for rare diseases. We're expecting to launch two new innovative treatments: one for thyroid eye disease, which is already approved and awaiting product first-batch approval, and another waiting for approval with indication for NMOSD, myasthenia gravis, and IGG4-related disease. Although these diseases have a very low incidence in the general population, they are debilitating and disabling in many cases. For some diseases, our treatments will be the first approved therapy, which will help patients who are now being treated with off-label options.
In oncology, we have a strong presence in colorectal cancer, bone metastatic disease, and lung cancer. We launched our first lung cancer treatment in 2023, and two months ago, we launched our second product, our second BiTE. BiTE represents an internal development, a platform designed by Amgen, that brings together the immune system and different tumor targets.
Moving into hematology, we are very strong, with a comprehensive portfolio for different conditions, like autoimmune thrombocytopenia, and one BiTE for acute lymphoblastic leukemia that was our first ever BiTE launch, and these molecules are benefiting patients suffering from these diseases all around the globe. Also, real-world studies are confirming clinical trial results, increasing the amount of available evidence.
We also have General Medicine products where Amgen is strong in cardiovascular health and Bone health. We are worldwide leaders in osteoporosis, and our lipid-lowering therapy has demonstrated excellent cardiovascular risk reduction. However, since we opened the affiliate for specialty care business, we decided in 2021 to partner with a local company for general medicine products. This year, we expect to launch five products in total: one for lung cancer BiTE, already launched, two for rare diseases, and two biosimilars.
EF: How do you train healthcare professionals for rare diseases to ensure no patient is missed?
JMP: The biggest challenge in Argentina is reaching all physicians, mainly in the country's interior, given that nearly 40% of the population is concentrated in and around the capital. We started our work in rare diseases with our medical department gathering insights to help understand the patient journey in these diseases. As in many rare conditions, there is a substantial care gap driven by a lack of both disease awareness and a multidisciplinary approach, which leads to a delay in diagnosis and timely treatment. Knowing these challenges, we are working to address these pain points, as patients can be diagnosed earlier through extensive disease awareness, fostering a multidisciplinary approach, and promoting collaboration among medical societies to maximize educational reach.
EF: What kind of people are you looking for at Amgen to manage change and ensure sustainability?
JMP: I'll share a telling statistic: seven of our 12 management team members came from within the organization, including myself, with a real diversity approach in terms of background and gender. This reflects our approach of building a strong foundation and promoting it from within when opportunities arise. Of course, we need to acquire some talent from the market because you can't have the perfect pyramid, but internal development is crucial. For the profile of people we needed, I've brought in new people to the management team.
In terms of what we are seeking, the first quality is curiosity. This is essential because we are an innovative company, we are biotech, we have this portfolio, and often we face situations where we ask, 'What's the right way to approach this?' I don't always know the answer, so I do trust my team as the best advisors. I'm a finance guy coming from Market Access who took this role, and my job is to lead teams and connect the dots. The second quality is a willingness to change, which relates to innovation. I tell the team during town halls that we need to be focused but flexible. When something isn't working out, we can't have emotional attachment to projects. If it's not working, we need to move on to another project without feeling bad about it. The third and perhaps most important quality is teamwork, which is non-negotiable. We don't operate as a siloed company.
We started with an open office concept in 2018. I don't have my own office and don't need one because it's part of our culture. If you visit our other offices worldwide, the same approach applies. Working in teams is one of our values and is extremely important. I didn't mention something that's fundamental because if you don't have it, you're not a candidate for the company: we do the right thing. This isn't just about compliance; it’s our way of achieving our mission of serving. We have procedures that must be followed. If you don't want to follow procedures, this isn't the company for you. It's very pragmatic. At Amgen, we do the right thing in all aspects: people, compliance, procedures, and how we work. This is our foundation, our atlas that sustains everything.
EF: Do you have a final message for our readers?
JMP: We've had three changes of government administrations since we started in the country, and we came here for a long-term relationship with Argentina based on clinical trials and our affiliate operations. Our value proposition was very clear from the beginning, and we're delivering on that promise. We will bring innovation to physicians and patients in need, and we will provide solutions for making our national health system sustainable. We're doing exactly that, we're committed to it, and we will continue, meeting with the Minister of Health of the country and the provinces. For instance, we're launching three innovative products this year because we're a company that works on innovation every day, and we're also launching two biosimilars approved by the FDA and EMA. We'll continue this same trend, bringing innovation, as an innovative company we are, while providing solutions to make that innovation affordable for payers.
Looking ahead to what I'll celebrate at year-end, firstly, I would say maintaining the right climate and culture within our company, along with the number of patients we have served in the country. These two things are especially important for me.
We've worked hard to reach over 90% participation in our engagement surveys, with about 80% engagement levels. The last survey showed 85% engagement, our highest ever. I do read every single comment from these surveys because I believe we have a great team in place, and my job is to create an environment to keep them motivated and working effectively; we won't deliver on our ambitious targets. People are what ensure we continue as a sustainable company.
The second celebration will be the patients we served, which is tied to the delivery of our numbers, which is vital in a country like Argentina, given all the challenges we've navigated. And of course, being successful with our launches, because that renews trust in our organization and affiliates. We've been very good with launches and need to maintain that as our signature. In Argentina, you can be sure that if Amgen is planning to launch something, we'll do a good job.
Finally, despite the volatility, we have shown that we know how to navigate through storms. Amid all the macroeconomic changes and this new environment, I am very confident that our versatile and adaptable talent allows us to stay focused on our strategy, proving that we have the right team in place to fly into clearer skies and continue serving more patients across the country. What makes me most optimistic is our people — their resilience, commitment, and ability to adapt are what truly set us apart.
