12:00 AM
Nov 12, 2007
 |  BioCentury  |  Strategy

Biovitrum's new broom

Martin Nicklasson, who became president and CEO of Biovitrum AB in May, has unveiled plans to refocus the company's research and business activities away from primary care to exclusively focus on specialty care, an area where it's far easier for small companies to play.

The board of Biovitrum (SSE:BVT, Stockholm, Sweden) had asked Nicklasson to assess the company's diverse pipeline and portfolio, most of it inherited when it was spun out of Pharmacia AB in 2001. His first conclusions are that the company's portfolio is too diverse and that it would not have the critical mass to develop a sustainable business through products for the primary care market.

"The feedback I have received in the first five months from investors was that they couldn't really see where Biovitrum was heading," Nicklasson told BioCentury. "It was not clear to them what were our core capabilities and businesses going forward. If you look at the pipeline it covers a wide spread of disease areas in diabetes, obesity, inflammation, pain, hematology, fat malabsorption and glaucoma. With a company of our size no one can believe that this is a sustainable strategy."

Nicklasson, who joined the company from AstraZeneca plc (LSE:AZN; AZN, London, U.K.) where he was EVP and head of global marketing and CEO of AstraZeneca...

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