Carnot Laboratorios: Valeria Uribe Committed to discovering innovative pharmaceutical products that improve quality of life




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Video title: Carnot Laboratorios: Valeria Uribe Committed to discovering innovative pharmaceutical products that improve quality of life
Released on: November 15, 2012. © PharmaTelevision Ltd
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In this episode of PharmaTelevision News Review, filmed at BioPartnering Future Europe in Brussels, Fintan Walton talks to Valeria Uribe of Carnot Laboratorios
Specialization areas and products
Fintan Walton:
Hello and welcome to PharmaTelevision News Review here at BioPartnering Future Europe, in Brussels. On this show I have Valeria Uribe, who is the Business Development Representative, you are a Consultant Advisor to the company Carnot Laboratorios, welcome.
Valeria Uribe:
Thank you for having me here.
Fintan Walton:
It's a pleasure to have you here. Valeria you are here to really describe Carnot Laboratorios to us, because obviously it's a Mexican Pharmaceutical company, it's now just over 70-years in business, tell us about Carnot?
Valeria Uribe:
Yes, well Carnot is a full pharma Latin American company, that originally started in Mexico and we have presence in all of Latin America. We do our own research and development and we have the capacity to develop our own products and go all the way through commercialization. We have a turnover of a 150 million US dollars mainly coming from Mexico which is our main market and where the headquarters are located. We specialize in gastroenterology, feminine health, respiratory care and we are also involved in other therapeutic alliance such as oncology, CNS, ophthalmology, dermatology but it also depends on the market, right, in Argentina for example we are more specialized in oncology, in Columbia in dermatology, so it depends, but in Mexico it's mainly gastroenterology, feminine health, and respiratory care.
Fintan Walton:
Okay, so I mean obviously some people might be more familiar with Mexico than others or Latin America, so for a company like Carnot within Mexico it's one of the top pharmaceutical companies, operating there?
Valeria Uribe:
It is one of the top Mexican pharmaceutical companies and it's one of the one's that's growing faster.
Fintan Walton:
Right.
Valeria Uribe:
Yes, it has a couple of products that are leaders in the market in gastroenterology and feminine health.
Fintan Walton:
Right, so the range of products some of them would be described as probably generics, but you've also got some specific branded products as well?
Valeria Uribe:
Yes exactly, we've got branded products, and generics are not our focus, we are, our aim is to be innovative, like innovation and quality would be our priorities, so as I mentioned we do our research and development in-house. Carnot has a 1000 employees, 500 of them belong to the sales force, and a 120 are dedicated to research and development, and we also have licenses from our partners in Europe and worldwide and some generics but, yes the in-house developed products and the branded products would be the main business.
Valeria Uribe's perspective: Present biotech industry in Mexico
Fintan Walton:
Right, okay. So we will talk about innovation in a moment, but just let's just look at the market for an example, commercial market for Mexico and then also the implications of that in Latin America, so how would you describe the market in Mexico at the moment?
Valeria Uribe:
So in terms of biotechnology there has been a really drastic change in the landscape since 2009, because in 2009 register, registering a biosimilar, the regulations were not very strict, I like to put it that way, and this in a sense provided a good opportunity for the companies that wanted to get involved in biotechnology, which were just a few, because that allowed them to acquire experience in biotechnology. However since 2010 this started changing and now the guidelines to register biosimilars or innovative biological products are being determined. So this is again a really good opportunity for the companies in Mexico to get involved with the government to set these guidelines and to strength, to develop and strengthen the biotechnology industry in Mexico and at the same time it provides a really good opportunity for international companies because the Mexican companies are going to need strategic alliances with companies that already have enough experience in biotechnology. In terms of the pharma industry it's there have also been changes, right now what's growing the most is the industry of generics more than a branded like innovative products. However there will also be changes in the healthcare system and a big majority, the majority of the population it's going to be entitled to social security, so we are talking about 60 million people that are going to have healthcare and the pharmaceutical industry it's going to need to be prepared to fulfill these this need.
Fintan Walton:
Right, just going back to biosimilars and the proposed changes to that in Mexico, what's the feeling there, is that going to be, is that going to make it more difficult for biosimilars or is it going to be, just may be just more clear to who those who want to regulate there or whatever?
Valeria Uribe:
I think both, I think both. I think it's not going to be as simple as it used to be, which is a positive thing, and defining the guidelines better it's also going to make the path more clear.
Fintan Walton:
Right, okay. So it will be in that sense it will be a lot simpler because you can understand how you're going to get there?
Valeria Uribe:
There will be most likely more requirements in terms of the studies that are going to be required, or studies in the Mexican population, right, but it would be more defined.
Carnot Laboratorios's strategy for the rest of Latin America
Fintan Walton:
Right, okay. Now obviously Mexico sits above, in the geographical terms, North of the other major area of Latin America which is dominated by countries like Brazil which are rapidly expanding and so forth, so what's Carnot 's strategy then for the rest of Latin America?
Valeria Uribe:
So Carnot started with an aggressive expansion strategies since 1994 expanding to South America, and right now we have direct presence in markets like Argentina, Columbia, and Peru, and we also have presence everywhere else through our partners, joint ventures and distributors and we also have an aggressive expansion plan for Brazil which is the main market in Latin America followed by Mexico.
Strategy in terms of outside Latin America
Fintan Walton:
Right, and then outside the Latin America area, obviously Carnot has had relations with other companies, other pharmaceutical companies where there is distribution rights, licensing arrangements with European based pharmaceutical companies and other pharmaceutical companies in other parts of the world, so what is the strategy then for Carnot in terms of outside Latin America?
Valeria Uribe:
So outside of Latin America there are two things, one it's in-licensing and out-licensing of branded innovative products from European, American and companies from all over the world, in-licensing and also we have our own research and development, and so for example right now we are seeking for a global partner for our Phase III trial for our hormone replacement therapy product which is a combination of estradiol and progesterone, and Carnot developed a few years ago a technology that allows slow release administration of low doses of estradiol, so this is a very promising product given the concerns about safety with hormone replacement therapy, and given the safety and efficacy profile of the product that has been developed, we think it can reach sales of up to $1 billion.
Fintan Walton:
Alright.
Valeria Uribe:
So we are seeking further for the right partner to finish the development the Phase III clinical trials.
Fintan Walton:
Okay, and this is one of the reasons why you are here at BioPartnering Future Europe?
Valeria Uribe:
Yes, that's the main reason why, why I am here trying to find the right partner for that.
Future plans
Fintan Walton:
Right, so obviously you know you are a Mexican, and looking at Mexico and its future relationship with the rest of the world and how you see a company like Carnot developing over in the next few years, what can we expect from a company like Carnot in the future and what can we expect from Mexico?
Valeria Uribe:
Yes, well in terms of Mexico in the future talking about biotechnology, as I mentioned earlier we are just starting to set the guidelines for the regulations of biologics and it's a market with a lot of potential. So I think we are going to see a lot of growth in the biotechnology industry because it's a great opportunity for Mexican and international companies, and the pharmaceutical industry is obviously going to keep growing as well as it has done so far, we are talking about like one of the biggest markets, and if we look at the trends in the markets worldwide it's the Latin American and emerging markets that are going to be growing over the next few years. And in terms of Carnot, right now as I mentioned it has very ambitious expansion plans, and right now the strategy is to keep expanding in Latin America, Brazil, have a stronger presence in Brazil, but over a time, not in the short-term, there is going to be an even more comprehensive expansion strategy.
Fintan Walton:
Amazing. Okay well thank you very much Valeria. Thank you very much indeed for coming on the show.
Valeria Uribe:
Thank you.
Fintan Walton
Dr Fintan Walton is the Founder and CEO of PharmaVentures . After completing his doctoral research on the genetics of cell proliferation at the University of Michigan(US)and Trinity College (Dublin, Ireland), Dr Walton gained broad commercial experience in biotechnology in management positions at Bass and Celltech plc (1982-1992).
Valeria Uribe
Business Development Representative
At the time of recording this PTV interview Valeria Uribe serves as serves as Business Development Representative at Carnot Laboratorios. Valeria Uribe obtained her graduate degree from the University of British Columbia, while conducting research in Dr. Michael Hayden's laboratory, where she worked on target validation in Huntington Disease. Currently she works as a business development representative for Carnot Laboratorios and other international companies. With a diverse background in scientific research, business development, marketing and strategy, she brings knowledge in commercializing products and technologies in Latin America and worldwide.
PharmaVentures
PharmaVentures is a corporate finance and transactions advisory firm that has served hundreds of clients worldwide in relation to their strategic deal making in the pharmaceutical, life science and healthcare sectors. Our key offerings include: Transactions / deal negotiations; Product / technology valuations; Deal term advice; Due diligence & expert reports; Strategy formulation; Alliance management; and Expert opinion for litigation/arbitration cases. PharmaVentures provides the global expertise to ensure our clients generate the highest possible return on investment from all their deal making activities. We have experience of all therapeutic areas and can offer advice on both product and technology commercialisation.
Carnot Laboratorios
Carnot Laboratorios is a privately owned Latin American Pharmaceutical Group that specializes in feminine health, gastroenterology, respiratory and pediatrics. Carnot has developed a low dose estradiol / progesterone combination for the treatment of menopausal symptoms. Based on a patented, injectable slow-release technology, it allows administering doses of estradiol up to 60 times lower than those delivered by the leading competitors. Given its superior safety profile and improved efficacy, the product has the potential to reach global sales of above USD 1bn. To obtain marketing authorization in the US, Europe and Japan, Phase III clinical studies need to be conducted. Carnot is interested in forming partnerships to complete clinical trials and market the product globally.