‘Our company culture is a compass that guides us in our daily business decisions’

Why do you consider 2007 a “turning point” for Actelion?

We are at a critical stage in the growth and evolution of our company. If we look back at our past successes and become complacent, we will remain a mid-size European biopharmaceutical company. If we grasp the new opportunities ahead of us and make the most of them, we have the potential to become the next Amgen or Genentech. Actelion has the necessary assets to make that leap: financial independence powered by an innovative product soon to exceed one billion Swiss francs in sales, a professional Marketing and Sales force with global reach, a pipeline that is one of the best in the industry, and newly built state-of-the-art R&D facilities at our headquarters. The most important asset, however, is the energy, commitment and creativity of our people.
Is that why you recently visited the Actelion affiliates around the world?

I wanted to make sure that our employees have a strategic view of where our company stands today, where we can go tomorrow, and why the contribution of each individual is critical to getting us there. I also wanted to reinforce the role of our company culture as the “glue” that holds all of us together – whether it’s in Allschwil, San Francisco, Sydney or Tokyo.

Why do you put such emphasis on face-to-face communication?

I believe that for an employee, there is nothing more credible than having someone from senior management speaking to you face to face and answering your questions. That kind of personal and open communication is a trademark of Actelion. During my visit to our affiliate in Greece, a new employee remarked that after 20 years in the pharmaceutical industry, this was the first time that he had seen a CEO in person. That speaks volumes about what sets us apart from other companies.

What were the most frequently asked questions from employees?

Many employees wanted to know how we can grow so quickly and still keep our culture intact. Another frequent question addressed whether Actelion will remain an independent company. On the first question, I emphasized our determination to remain true to our culture despite rapid growth. On the second, I underlined my commitment to shareholders and employees to preserve Actelion’s independence. The best protection against possible takeovers, I pointed out, is to increase the value of the company through our daily work. In 2006, our efforts were rewarded by a 147% increase in the value of Actelion’s shares over the previous year.

What makes company culture so important at this point in time?

Culture is something that can’t be bought or created overnight – it is the unique, intangible quality that distinguishes one company from another. Actelion’s culture is built on the pillars of innovation, open communication, trust and teamwork, and achieving results. During this period of rapid growth, our culture helps new employees – many from larger pharmaceutical companies – assimilate and contribute more effectively. Our company culture is also a compass that guides us in our daily business decisions. Is a potential product truly innovative? Does it address a real medical need? Which research approach would I choose if someone from my family had this particular disease? These are the kind of questions we ask ourselves. My experience as a doctor also influences my decisions and those of my colleagues – patients aren’t just numbers to me; they are names and faces.

Is the acquisition of the American biopharmaceutical company CoTherix in 2006 an example of that cultural compass?

Absolutely. The CoTherix licensed product Ventavis® is the only inhalable therapy on the US market for pulmonary arterial hypertension (PAH), a disease with a medical prognosis worse than many forms of cancer. This therapy complements the mode of action of our flagship product Tracleer® and our pipeline compound Actelion-1 as well as strengthening our overall leadership position in PAH. It is a perfect fit.

How is Actelion’s culture of innovation linked with value?

Innovation without value is not sustainable. If researchers discover novel compounds and the company has no other option than to license them out, scientific innovation is not generating maximum value. That is why at Actelion we decided from the beginning to develop our own Marketing and Sales force. Today, we are one of the few biopharmaceutical companies with a truly global reach in getting our products to the marketplace. Our strategic co-development and co-marketing agreement with Roche in 2006 for our S1P1 agonist reflects these commercial capabilities. Innovation is also linked with risk, with journeying into the unknown. It’s tempting to take shortcuts and go down the conventional path of “me-too” products, but that is not who we are as a company.

Actelion’s culture of innovation is not limited to the laboratories. Finding a more efficient way to conduct meetings, a fresh approach to organizing a medical congress or a higher quality way of running a clinical trial at comparable cost to others can also be innovative and create value. I constantly encourage people from all parts of the company to open their minds and try new ways of solving problems.