Developing an effective pharmaceutical company is one of the biggest gambles in the medical fields. If the research has gone very well, the venture would be very profitable. However, if the company fails, the money used for investment cannot be recouped. As one of the pharmaceutical professionals, Marc Beer knows how hard it is to establish yourself in the industry.
Marc Beer has been working in the pharmaceutical industry for more than 25 years. Known for being the CEO of a lot of successful startups, Beer’s track record is one of the best in the industry. Before that, he worked for almost a decade in Abbott Labs. He is also involved in making Genzyme the giant that it is today, with over 11,000 employees nationwide. Beer is both the founder of ViaCell and Good Start Genetics, which he successfully built and sold years after. Right now, Beer is focused on handling Renovia, a company which aims to give cure for Pelvic Floor Disorders.
Pharmaceuticals is a very hard industry to enter because of its nature. But this doesn’t stop Marc Beer from venturing into the industry and making a career out of it. Beer’s reason in setting and exploring the pharmaceutical sector is his fascination with modern medicine. When medicine development is successful, it doesn’t only means recoupment for the initial financial investment. It means changing the very course of nature and impacts the future of humanity. Beer hopped into Renovia when Dr. Sam Puliam and Dr. Jose Bohorquez presented him the idea to cure a disease that affects millions of people in the world.
Setting up success in the pharmaceutical industry is a very slow process. According to Marc Beer, a company would start becoming successful after five years to a decade after inception. The early phase of a startup will depend a lot on funding received from investors. In addition, cutting corners is not a good idea because it will compromise development. As of now, Renovia is still in a very early stage, and Beer admits that its main source of funding is through the investments.
What makes getting into the pharmaceutical industry is the fact that after the slow process, the profit would totally be worth it. It takes a good leader to make sure that everything will be going strong, efficiently using the funding available until the development of the product is complete. With Marc Beer’s track record, Renovia is expected to be another success story. Learn more: http://inspirery.com/interview-with-marc-beer/
Marc Beer also emphasized the importance of getting the right and talented people on-board. He learned this lesson during his time in ViaCell, since then, he always makes sure that a good team is working on every project.
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