What's next for Apotex? The company plans for global expansion
After its acquisition by a U.S. investment fund, the Canadian generic drugmaker positions itself for international growth (1,080 words, 5.5 minutes)
Apotex, the Canadian generic drugmaker, is planning for expansion following its acquisition by New York-based private investment firm SK Capital a year ago.
At the 2024 Bloom Burton Healthcare Investor Conference, Allan Oberman, President & CEO of Apotex, said the company wants to drive growth in core and specialty generics. He said a key component of Apotex’s growth strategy is its emphasis on partnerships, offering services for companies seeking entry into the Americas market across R&D, manufacturing, distribution, regulatory compliance, and market access.
Oberman [pictured below] said Apotex is venturing into specialty pharma beyond its traditional focus on generics. He highlighted Apotex’s recent acquisition of Searchlight Pharma, a Montreal-based company with a product portfolio focused on women’s health, dermatology, allergy, neurology, pain management and hospital specialty markets. According to Oberman, buying Searchlight will enable Apotex to expand its reach beyond Canada and tap into markets across the Americas, including the USA and Latin America.
Oberman said that Apotex will continue its Canadian operations while pursuing other global growth opportunities. He plans to maintain the company’s headquarters and continue a significant manufacturing presence in Canada. He noted that two-thirds of Apotex’s manufacturing facilities are located in Canada, and all of these facilities are U.S. FDA and Health Canada-approved. Oberman also emphasized that Apotex is “Canadian-based, Canadian-led, Canadian-managed, and proudly Canadian.”
Oberman revealed that Apotex has revamped its leadership structure to incorporate managers with global experience to propel the company's international growth. Additionally, the company has blended new executives with seasoned industry professionals, including Barry Fishman as Chief Corporate Development Officer. According to Oberman, this refreshed leadership team contributes diverse perspectives gained from their experiences in fast-expanding global markets.
THIS WEEK 05/07/24
Health Canada approved Novo Nordisk’s semaglutide injection (Wegovy) to manage obesity in adult patients.
Pfizer announced the U.S. FDA has approved fidanacogene elaparvovec-dzkt (Beqvez) for the treatment of adults with moderate to severe hemophilia B who currently use factor IX prophylaxis therapy, have current or historical life-threatening hemorrhage, or have repeated, spontaneous severe bleeding episodes, and do not have neutralizing antibodies to adeno-associated virus serotype Rh74var capsid.
The U.S. FDA approved X4 Pharmaceuticals’ mavorixafor capsules (Xolremdi) for the treatment of WHIM (warts, hypogammaglobulinemia, infections and myelokathexis) syndrome in patients 12 years of age and older.
The U.S. FDA approved Aquestive Therapeutics’ diazepam (Libervant Buccal Film) for acute treatment of intermittent, stereotypic episodes of frequent seizure activity in patients with epilepsy between two and five years of age.
LISTEN UP
In season 12 of the NPC Podcast, Stephanie Veyrun-Manetti, General Manager of Specialty Care and Country Lead for Canada at Sanofi, gives insights into Sanofi’s Biogenius grants, the importance of DEI in Canada, and career development across all generations of employees. Hear her in conversation with podcast hosts Mitch Shannon, Jim Shea and Mark McElwain.
HEALTHBIZ REWIND
This feature of NPC Healthbiz Weekly looks back at some of the most insightful moments from previous NPC Podcast episodes. In Healthbiz Rewind, you’ll read bold life sci predictions made during the renowned “Prognostication Korner” segment of the NPC Podcast.
Andrea Schwarz
Commercial Lead Canada
BeiGene
Toronto
Season 11, episode 08
Listen to this episode here
What bold predictions will you make about the life sciences industry during the coming 12 to 24 months?
I would say not so much a bold prediction, but I will say my bold wish. My hope is that pharma will continue to evolve to be seen as an integral part of the healthcare system. We need to better partner with government regulatory bodies, CPAs, allied health, and even patients. I would love to see our industry continue to support policy changes that we need to push and bring medications to Canadians faster. Our healthcare system is evolving quickly, and we need to be at the forefront of this change to be seen as a valued partner in improving the system for all Canadians. This is my bold wish and something that drives me every day in my job.
Register now for the NPC Spring Webinar on Pharmacare
🔔 Upcoming Webinar: National Pharmaceutical Congress Spring Webinar on Pharmacare – May 29 🔔
Topic: Unpacking Bill C-64: Myths, Realities, and the Future of Canadian Pharmacare
As Canada buzzes with discussions on the proposed national #Pharmacare program, join us for a crucial session to demystify the complexities surrounding Bill C-64. This is your chance to dive deep into the critical issues at the heart of this national debate.
What to Expect:
Expert Panel Discussion: Hear from leading experts who will explore the pressing concerns related to drug shortages, their impact on workplace benefits, and the pharmaceutical industry: Dr. Mihai (Mike) Csaki of the Council for Continuing Pharmaceutical Education, patient advocate Zal Press, and consultant and board member Pamela Fralick, former president of Innovative Medicines Canada—Médicaments novateurs Canada.
- Fact vs. Fiction: Gain clarity on the myths and realities of how a national pharmacare program could reshape healthcare in Canada.
- Comparative Insights: Learn from existing universal drug plans to understand the potential outcomes of the proposed policy.
Interactive Q&A Session: Our panellists will answer your questions in real-time. This is your chance to voice your concerns and get direct feedback from healthcare leaders. The moderators are Mitchell Shannon of Chronicle Companies and Ben Parry of The Pangaea Group. The NPC Institute organizes the event and background research.
📅 Date: May 29, 2024
🕒 Time: 11:00 a.m. EDT
📍 Location: Online – Join from anywhere!
This free webinar is a must-attend for healthcare life sciences managers and executives, policymakers, industry experts, and anyone interested in the future of healthcare in Canada. Whether you support the bill, oppose it, or seek more information, this event will provide valuable insights into one of the most significant healthcare reforms under consideration.
✅ Register now to secure your spot.
👥 Please share this event with colleagues and anyone who might benefit from this critical discussion.
Life Sciences Ontario: 2024 Annual Awards
Join LSO for a night of celebration of the #lifesciences sector and individuals and companies that have made outstanding contributions — Bill Mantel of Centre for the Commercialization of Regenerative Medicine (CCRM); Dr. Benjamin Rovinski of Lumira Ventures; Dr. Christine Allen of Leslie Dan Faculty of Pharmacy, University of Toronto; Dr. Durhane Wong-Rieger of Canadian Organization for Rare Disorders; and Satellos Biosciences Inc.
Date: Wednesday, May 15th, 2024
Venue: Liberty Grand, Exhibition Place - 25 British Columbia RoadMay 15o
May 15ception - 5:30 p.m. / Dinner: 6:30 p.m.
Grab your tickets now here.
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