Despite the challenges of global circumstances in 2023, Galenika successfully ensured the production and distribution of its products to all markets where it operates. It’s priorities for 2024 remain the same: commitment to quality, innovation, portfolio expansion, investments and the further globalisation of its business
Here we discuss the successes and challenges Galenika faced during 2023 and the company’s strategic commitment for the period ahead, as well as global trends in the pharmaceutical industry, with Galenika GM Ricardo Vian Marques.
What would you highlight as the key elements of Galenika’s operations in 2023? What are you satisfied with and what were the challenges?
— The key challenge of the previous year was presented by global circumstances that affected the pharmaceutical industry, among others. We exerted significant efforts and successfully ensured the production and distribution of our high-quality products in Serbia and to the export markets where we operate.
We placed a strategic focus on increasing the portfolio. During 2023, we launched as many as 77 products in Serbia and on the markets of the regions where we operate. In parallel, with the acquisition of Serbian-Slovenian company Lifemedic, we took over the exclusive distribution of the product programme of renowned Italian pharmaceutical company Pharmalife Research for the markets of Serbia, Bosnia and Herzegovina, North Macedonia and Montenegro, and thus launched a partnership with a global company that shares our values. In addition, with our strategic partnership with Brazilian pharmaceutical leader EMS (www.ems.com.br), during 2023 Galenika successfully realised the transfer of technology for six products from the newer generation of generic drugs.
How do you see the global trends in the pharmaceutical industry and where does Galenika stand?
— Artificial intelligence (AI) and sustainable business (ESG) are gaining ever more representation in the pharmaceutical industry. AI is becoming particularly useful in the drug development process, as it allows pharmaceutical companies to design new molecules, predict their characteristics and optimise new drug candidates faster and more efficiently than traditional methods. I emphasise that it is extremely important that the information is based on relevant data and their relationships, and that it is used in the right way. In addition, in the domain of sustainable business, health equity has emerged as an important trend in the pharmaceutical industry. The focus is on the development of medicines that aren’t only effective, but also available to the wider population. I expect this to be crucial in helping make medicines more accessible to everyone.
We strive to expand our product range with high-quality, latest-generation drugs, which is a prerequisite for us maintaining and achieving even more success.
Quality is the essential prerequisite of Galenika’s business philosophy and one of the pillars of our sustainable business culture. We have GMP and ISO certificates for quality assurance, while environmental protection and energy efficiency are high on the priority list. We carefully select suppliers in order to ensure the quality of our products. We additionally implement prevention awareness projects, demonstrating corporate responsibility. At the same time, Galenika has invested considerable energy and funds in the digitisation of its operations. State-of-the-art software for detailed production planning, business intelligence and predictive analytics are just some of the innovations that Galenika has introduced over the past six years. In other words, we are focused on drivers of growth and innovation.
What do you expect going forward; what are the company’s priorities?
— Expanding the portfolio remains a key focus as we strive to expand our product range with high-quality, latest-generation drugs, which is a prerequisite for us maintaining and achieving even more success. We are strategically committed to the internationalisation of our business and in 2024 plan to additionally expand our business on the EU and MENA markets. In short, Galenika remains dedicated to and focused on growth through high-quality products, investments, digital transformation, the further globalisation of its business and strategic mergers and acquisitions.