Interview – Frank E. Thode, Galderma - Pharmaceutical & Biotech Finance Leaders Forum 2014
Leading up to NextLevel Pharma’s Pharmaceutical & Biotech Finance Leaders Forum, we are conducting email interviews with selected members of our prestigious speaker panel to learn more about their thoughts on this vital issue.
*Opinions below are those only of the individual and do not reflect upon corporate strategy or positioning.
FRANK E. THODE, Interim CFO, Head of Finance & Logistics Swiss Market, Galderma
NLP: What do you think makes the current financial environment in Europe so challenging for pharmaceutical & biotech companies?
Frank E. Thode: Governmental interventions and healthcare reforms have increased the pressure on the pharma & biotech sector by decreasing the margins and funds available for research.
NLP: Which trends have you seen on the ways in which the pharma & biotech sector approach financial matters over the past 5 years?
FT: The Generica companies have increased their market shares and the market for prescription drugs is getting more competitive. The legal requirements for successful registration of new drugs have further increased (e.g. number of patients required for studies), leading to higher R&D spend and lower success rates.
NLP: How much do you think the financial roles in the pharma & biotech sector are increasing their influence over strategic & country-level decision-making?
FT: The importance of global strategies for the brands is increasing and supplementary to the country specific knowledge. Management cockpits providing timely, accurate sales data and analyses for the different sales channels on country level are mandatory.
NLP: What’s the best thing for you about working in financial roles in the pharma & biotech sector?
FT: In spite of the increasing cost pressure, the market potentials are still promising and co-sourcing and outsourcing potentials can still further explored and developed.
NLP: Why is this Pharma & Biotech Financial Leaders Forum event a good idea for people to attend in your eyes?
FT: The active exchange of experience and knowledge is essential to learn from the best and to understand how other companies have mastered their challenges in the global, dynamic environment. The Pharma & Biotech Financial Leaders Forum is an excellent platform for networking and knowledge sharing.