Simcox 2005

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Simcox 2005

  1. 1. FMC BioPolymer Building New Growth Platforms from Existing Franchises Dr. P. David Simcox General Manager, Pharmaceutical and Personal Care FMC BioPolymer September 29, 2005CDMA September 29, 2005 Not Just Products. Partners.
  2. 2. FMC BioPolymer FMC BioPolymer Serves Specialty Markets • Pharmaceutical Excipients • Food Ingredients • Personal Care • Industrial Uses Biopolymers • Microcrystalline Cellulose (MCC) • Carrageenan • AlginatesCDMA September 29, 2005 Not Just Products. Partners.
  3. 3. FMC BioPolymer FMC BioPolymer - A Market Leader • MCC – Tablet binders and colloidal suspension aids • Carrageenan – Toothpaste and food texture aids • Alginates – Dental impressions and anti-reflux Targeted to Drive Growth in FMC • Excellent franchises • Maturing technologiesCDMA September 29, 2005 Not Just Products. Partners.
  4. 4. FMC BioPolymer Creating Significant Growth in the FMC • Long standing, premium player in excipients • Staffed to serve the global industry through sales and technical service • Limited opportunities for breakthrough products • Engine to provide funding How to Drive Innovation and Change? • New organization(s) • Different missionCDMA September 29, 2005 Not Just Products. Partners.
  5. 5. FMC BioPolymer How to Build on the Pharmaceutical Franchise? • Engaged the management team • Developed case histories of market leaders in specialty chemicals – Examples of how others addressed their situations – Were they successful or not – Expanded thinking • Applied these cases to FMC’s situation – Examined FMC core competencies – Is there a similar customer or market demand in pharmaceuticals? – How would it look if we did something similar?CDMA September 29, 2005 Not Just Products. Partners.
  6. 6. FMC BioPolymer Examples and Options Examined • Horizontal expansion – Acquire or develop product lines – Market or distribute products of other suppliers • Vertical expansion – Contract R&D – Contract manufacturing – Manage customer formulation production – Produce dose formsCDMA September 29, 2005 Not Just Products. Partners.
  7. 7. FMC BioPolymer Subsequent Steps • Created Venture Manager position • Identified several opportunities – Leverage existing know-how • Ranked these opportunities vs existing development programs • Used expert forums to test validity of the product and business conceptsCDMA September 29, 2005 Not Just Products. Partners.
  8. 8. FMC BioPolymer Licensing • Leverage FMC knowledge of solid oral dosage forms • Films as a growing area of interest • Looked for films and oral dose forms • BioProgress – UK technology firm with novel technology • Licensed NRobe™ dose form systems • Formed Magenta, a unit for oral dose forms NRobe • Single step to wrap drug excipient powder in films • Low compression • Streamline formulation development • Continuous manufacturing process • Branding and anti-counterfeitingCDMA September 29, 2005 Not Just Products. Partners.
  9. 9. FMC BioPolymer NRobe™ NRobe Tablets Pilot EquipmentCDMA September 29, 2005 Not Just Products. Partners.
  10. 10. FMC BioPolymer Internal Discovery • Soft Capsules dose forms • Old technology in use • Market issues with gelatin • Discovered and developed two proprietary polymer systems Soft Capsules • Hydrocolloid / carrageenan drop-in replacement for gelatin • Alginate forms an enteric shell – New process – High throughputCDMA September 29, 2005 Not Just Products. Partners.
  11. 11. FMC BioPolymer Capsules Hydrocolloids AlginatesCDMA September 29, 2005 Not Just Products. Partners.
  12. 12. FMC BioPolymer Acquisitions • Identified growing demand for biomaterials for pharmaceutical and medical devices • FMC expertise in biopolymers • Acquired Norsk Hydro Pronova Biomedical unit • Licensed in additional technology NovaMatrix • Biocompatible natural polymers • Broad functionality • Manufacturing and R&D in Norway • European and NA commercial development • Serving biotechnology, medical device, pharmaceuticals, academic institutionsCDMA September 29, 2005 Not Just Products. Partners.
  13. 13. FMC BioPolymer NovaMatrixCDMA September 29, 2005 Not Just Products. Partners.
  14. 14. FMC BioPolymer Future Opportunities • Recognize that this is a game of “odds” • Generate the next opportunities • Initial examples showed it is possible • Changing the organizational culture – Ideas, energy coming from the entire organization – Leveraging new technology platforms – Project management using Stagegate process – Taking more risks – Creating opportunities to investCDMA September 29, 2005 Not Just Products. Partners.
  15. 15. FMC BioPolymer Providing a Pipeline of Opportunities Long-Term Stage Mid-Term Near-Term Current 1-3 3-5 >5 YearsCDMA September 29, 2005 Not Just Products. Partners.
  16. 16. FMC BioPolymer Organizational Issues • Dedicated teams • Clear milestones • Differentially manage • Role of the base business • Resources from broader organization • Cross fertilizationCDMA September 29, 2005 Not Just Products. Partners.
  17. 17. FMC BioPolymer Lessons Learned • Franchise provides access • Can branch out and move downstream • No one model fits all • Face tough choices on resource allocation • Need an agreement on financing • Managing milestones • Dedicated and driven people • Multiple plays, but not too many • Focus, focus, focus • Keep feeding the TigerCDMA September 29, 2005 Not Just Products. Partners.
  18. 18. FMC BioPolymer A Manager’s Questions • Do you have the skill base to accomplish your goals? • Is the opportunity bigger than a breadbasket? • How disruptive is it? • What is your elevator speech? • Do your people think about it in the shower? • How do you plan on retaining your folks over the long term?CDMA September 29, 2005 Not Just Products. Partners.
  19. 19. FMC BioPolymer Building New Growth Platforms from Existing Franchises Dr. P. David SimcoxCDMA September 29, 2005 Not Just Products. Partners.

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