Carlos Gallardo (Almirall): “A review of EU policies is necessary to bolster Europe’s appeal as an innovation hub”
“A review of EU policies is necessary in order to bolster Europe’s appeal as an innovation hub in the pharmaceutical industry”. This was the essence of the entire speech by Carlos Gallardo, Almirall President and CEO, at this Esade Matins session organized by Esade Alumni. The CEO examined the importance of innovation and leadership, and also the main challenges facing the pharmaceutical industry from a business and European perspective, against a backdrop of increasing competition and regulatory pressure.
Gallardo began by explaining Almirall’s on-going commitment to R&D, as demonstrated by the considerable resources earmarked by the firm for this area. In a highly regulated industry, “the R&D of a medicine is a complex, drawn-out process that may span more than a decade and, as usual in the realm of scientific research, the success rate is small,” he emphasised.
One of the key moments in the company’s evolution, recalled the CEO, was the decision taken in 2014 to sell its respiratory business with a view to focusing entirely on medical dermatology. “This strategic decision,” he explained, “enabled us to concentrate our efforts on a niche with a high unmet medical need” that has a considerable impact on patients’ quality of life.
Psoriasis and atopic dermatitis: two essential areas
At present, Almirall is strategically addressing pathologies such as psoriasis and atopic dermatitis, and other skin diseases. Gallardo pointed out that these treatments have made a significant contribution to his company’s growth and enabled it to pursue new research projects designed to make a positive impact on the lives of people with skin diseases. In this landscape, he underlined that Almirall is a benchmark in today’s medical dermatology and is renowned for its track record in commercial performance and its portfolio of products at different stages of research.
The president and CEO of Almirall placed particular emphasis on the strictly medical nature of the dermatology addressed by the company. “Our aim is to develop the medication prescribed by dermatologists – we don’t cover aesthetics or cosmetics. People usually hear about our treatments because they have a serious illness,” he said. Skin diseases are amongst the ten main causes of disability around the globe, according to the WHO, and they have a significant physical and psychological impact on patients’ mental health, rest and employment.
Gallardo also mentioned that Almirall aims to become the leader of medical dermatology on a global scale, a goal measured by a variety of indicators related to patient impact, the perception of specialists in dermatology, and sustained, innovative progress. “Medical dermatology is a large growth market, and this enables us to advance with our mission of developing new treatments for unmet dermatological needs,” he noted.
Europe lags behind in pharmaceutical innovation
Gallardo expressed concern about Europe’s falling competitiveness in the pharmaceutical industry. “In recent decades, Europe has experienced a decline in its comparative clout in innovation,” he said, pointing to complex regulations, long lead times for medicines, leaks of clinical research and growing geopolitical pressure as aggravating factors in this landscape. Against this backdrop, he called for a review of European policies in order to bolster Europe’s appeal as a hub of innovation. “As long as we are regarded as a cost centre rather than a strategic industry, it’ll be difficult to reverse this trend,” he concluded.
Finally, the Almirall president and CEO referred to the impact of A.I. on the pharmaceutical industry, in which respect his company is already developing initiatives designed to improve research capabilities, automate processes and ensure more robust decision making.
Esade Matins, organized by Esade Alumni with the sponsorship of CriteriaCaixa, are a leading meeting point where business leaders share their experiences, strategic challenges, and visions for the future. In this session, Carlos Gallardo was joined by Patricia Valentí, Director of Esade Alumni, and Manel Peiró, Director of the Institute for Healthcare Management at Esade Business School.
