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| Interview with Jean-Paul Clozel, Actelion’s CEO and co-founder |
| Actelion is now 10 years old. What does this landmark mean for you? |
|  |  | The past 10 years have been the realization of a dream. It’s not often that life gives us that kind of opportunity. Working together – with our employees, our Board, our shareholders, our partners – we have created value, we have changed lives. I feel incredibly proud to have been a part of this.
Our 10 year anniversary is testimony to what we have achieved. It has also prompted me to reflect on some of the challenges we have overcome along the way. We have to recognize these setbacks in order to strengthen our resolve to find a better way forward. It also helps us to appreciate the unique nature of our achievements – the groundbreaking discoveries, the introduction of marketed products, the development of a global infrastructure, and the rapid expansion of our pipeline. |
Jean-Paul Clozel, Actelion’s CEO and co-founder |
Our 10th anniversary also marks a new beginning – a base on which we can build an even stronger organization, one that will produce many more successful, innovative treatments such as Tracleer®.
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| Virtually every company describes itself as “innovative”. What’s so different about Actelion? |
| | Our culture! From the outset, the founders wanted to create a company with a bold, pioneering spirit, one that understands the true nature of innovation. Innovation cannot be taught, but it is possible to foster an environment with intrinsic freedom to create. By removing the barriers to innovation, such as bureaucracy and hierarchy, we empower our people to take responsibility and grasp opportunities.
Our stakeholders recognize these attributes and have been rewarded through the value created by what we have achieved. They see our desire and our continued potential to innovate.
It is my belief, that only when all our desire and drive is focused on being number one, in everything we do, can we really turn innovation into value. |
| How does an innovative discovery convert into a medicine? |
| | There are many barriers to overcome when guiding a compound that addresses an unmet medical need from the bench to the market. We must know which projects are most promising, which compounds should be promoted, and where to focus our efforts to maximize the chances of success. The only way to make the correct choice is to base our decision on facts. This means we must communicate effectively and openly within teams and across functions in an integrated approach.
In this way, innovation can be translated into evidence-based medicine. Only then can we find out how best to move forward, with the benefits outweighing any risks. If we understand what the risks could be, we can find out more about them during clinical development.
When designing clinical trials, it’s important that we don’t underestimate the value of interactive dialogue between our clinical development teams and the regulatory authorities. This dialogue allows us to provide the necessary transparent information to physicians that will enable them to prescribe the drug in the most appropriate manner. |
| Why is continued independence so important for Actelion? |
| | Having worked so hard to build a company and a pipeline, we want to profit from our efforts with our stakeholders. We have fostered a culture that allows our people freedom to create. Trust in our teams is a key ingredient in everything we have accomplished. To change this would be to jeopardize the very basis of our success. Innovation needs time to be recognized in terms of share price, so a loss of independence would mean our shareholders would miss out on the potential for greater return.
I truly believe the best solution for Actelion is to keep our pioneering culture. To do so, we must continue to be independent, so that we remain the final decision makers. |
| How do you see your role at Actelion as the company continues on its path to becoming a major global player? |
| | Actelion has all the makings of success; we have a strong product pipeline which I consider to be the critical success factor for any pharmaceutical company in this day and age.
We have some major drugs that need large marketing organizations, but growing in size is not our overriding goal. Bigger is not always better. Our goal is to keep creating the value within the company and we can only do this through maintaining our culture of scientific innovation.
Therefore, my role as CEO boils down to one thing: keeping our culture intact. You cannot put a price on such a commodity; it takes time to create, but you can destroy it very easily. |
| Does the Board share this assessment? |
| | There’s a strong cultural fit between the Board and the management – without this, I wouldn’t be able to do my job properly. Our common vision is based on an understanding that innovation is not a license for recklessness. At the same time, we agree that being at the cutting edge of drug discovery involves some risk. And, of course, when you take risks, not everything works out.
Where the Board really comes into its own is in seeing the “big picture”. Their strategic knowledge and management experience is invaluable for ensuring that our day-to-day activities and long-term plans are focused on maximizing the value of our innovation and minimizing any risks to the business. In this way, despite the fact that there will always be some volatility in our share price and the short-term valuation of the company, we will continue to consistently reap the benefits in the long term. When innovation turns into a product that can alter patients’ lives in a positive way, we will always be able to generate above average value. |
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