To understand Galen’s interest in PharmaVenue’s Pharma Partnering it is necessary to understand the company’s background. Galen, a privately-owned specialty Pharma company based in Northern Ireland, has recently expanded its commercial operations in the Nordic region following the acquisition of POA Pharma AB. At this moment, the company’s focus is on expanding its portfolio of niche prescription medicines for hospital use in order to become a global pharmaceutical company, with specialty products in key European markets and the US. Galen works in partnership with healthcare professionals, patients, and payors by combining innovation in product benefits with competitive pricing. As a result, the company’s philosophy has been a major factor in its success to date, such as its TrustSaver offering in the UK.
Why is Galen attending PharmaVenue?
Galen’s interest in PharmaVenue Meeting in Madrid stems from its desire to expand its product portfolio and development pipeline through in-licensing of close to market, or late stage development products, in key specialty therapy areas. Of particular interest are new product opportunities available for in-licensing in emergency medicine, acute therapies primarily for hospital use, metabolic diseases (including inborn errors of metabolism), pain management, and ENT. Additionally, Galen is interested in in-licensing/co-development of drug delivery technology, which offers market exclusivity through regulatory or patent protection, to off patent molecules for niche indications in the key specialty areas highlighted above. Finally, the company is actively seeking acquisition opportunities, including companies, products, or product portfolios.
How will Galen achieve its Goals?
In order to achieve its goals, Galen works closely with its sister company, the Almac Group, to identify suitable collaborations for mutual benefit. The Almac Group is a global provider of a broad range of pharmaceutical development services to major Pharma, biotech, and virtual companies. Also headquartered in Craigavon, the Almac Group employs over 5000 people at its facilities within Europe, the US, and Asia, and generates annual sales in excess of £500m. Importantly, Galen is looking to leverage the Almac Group’s expertise and resources to help identify and execute suitable opportunities for growth and expansion.
Why In-Licensing?
Galen’s interest in expanding its product portfolio and development pipeline through in-licensing is not unique to the company. As a fact, many pharmaceutical companies look to in-licensing as a way to quickly and cost-effectively expand their product offerings. In-licensing can offer several advantages over in-house development, including reduced development costs, shorter development timelines, and access to a broader range of products. Additionally, in-licensing can help companies fill gaps in their portfolios and achieve strategic objectives more quickly than they would be able to through in-house development.
Galen’s interest in Drug Delivery Technologies
Galen’s interest in drug delivery technology is also not unique to the company. Actually, many pharmaceutical companies are looking to drug delivery technology as a way to extend the life of off-patent molecules and gain market exclusivity. In fact, drug delivery technology can help companies differentiate their products from competitors, extend product lifecycles, and improve patient outcomes. Additionally, drug delivery technology can offer regulatory and patent protection, providing additional market exclusivity for companies.
Galen’s Interest in PharmaVenue Meeting
Concluding, attending PharmaVenue in Madrid presents Galen with an opportunity to meet and interact with potential partners from across the pharmaceutical industry. The event provides a platform for companies to showcase their products and services and network with key decision-makers from leading pharmaceutical companies. For Galen, attending PharmaVenue represents a chance to meet with companies that have innovative products or drug delivery technologies in their areas of interest, and to explore opportunities for partnerships or collaborations. Additionally, the event allows Galen to gain a deeper understanding of the latest trends, challenges, and opportunities in the industry, which can help inform their product development and business strategy. Overall, PharmaVenue provides a valuable opportunity for Galen to expand their network, gain new insights, and explore potential partnerships that can help them achieve their goals.