Biotechnology in the focus of Bristol in Brazil
Gazeta Mercantil - 06/25/2008
He is a North-American-naturalized Colombian. However, if he told he was from the State of Minas Gerais, it wouldn't surprise anyone. Seven months ago, Francisco Hidalgo took over, without bragging, the presidency of Bristol-Myers Squibb, in Brazil, bringing in his luggage the mission of implementing, also here, the repositioning adopted by the North American company which will take place by means of biotechnology. "Since I got here I have been facing the challenge of a new stage that will make Bristol into a biopharma", declares the officer. The idea, according to him, is not to abandon the traditional synthetic drugs, such as Naldecon Dermodex and many other brands that brought it fame and placed the company among the largest world manufacturers. The bet, however, is to include biotechnology in its portfolio, the way its rivals are doing in order to survive. To do so, Bristol should spend US$ 2.5 billion in research only this year, 19% more than last year. The value is equivalent to 11.4% of the international income of the company, US$ 22 billion. All that aims at keeping the strong rhythm of launching of products: from two to three new drugs a year. This reformulation includes the change in the team of representatives, which needs to take more than just leaflets and free samples in their briefcases during their visits to doctors. The new profile of the representative had to be less of a salesman and more of a technician. As one good turn deserves another, the marketing team was also changed and started including in its projects the relationship with government, strategic area that currently represents 20% of the company businesses in Brazil. In order to include the Country in the researches, Bristol will invest US$ 22 million in the subsidiary this year, 22.2% above the invested in 2007, and for 2009, it is expected to reach the US$ 30 million. In total, the company intends to sell US$ 320 million in Brazil this year, nearly 10% more than in 2007. The growth is already based on the new biotechnological products, especially those prescribed for rheumatoid arthritis, a great bet of Bristol that has just gained an exclusive plant in the USA in the value of US$ 1.2 billion.