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EF: Entering the large Brazilian market, what are your primary objectives and priorities on the agenda?
JA: At SteinCares, we aim to enhance healthcare experiences for patients and families by broadening access to affordable medications and improving the quality of life for more Latin Americans. With strong ties in specialty care, more than four decades of experience, and a portfolio including innovative pharmaceuticals, biosimilars, complex generics, and orphan drugs, we distinguish ourselves from global licensing organizations.
Our top priority is expanding our presence in Latin America. We began in Central America and the Caribbean, and now we operate in more than 30 countries in the region. Unlike other licensing companies, we started in smaller markets and have expanded to larger areas. Our strong footprint positions us as the bridge between the high-tech pharmaceutical businesses around the globe and the healthcare needs of patients and healthcare providers in Latin America.
We are currently going through the formalities of obtaining licenses and approvals to operate in Brazil. By 2024, we should be able to start business and commercial operations.
Our second priority is product registration, expanding our license portfolio, primarily in biosimilars and orphan medications. The next step is establishing a strong commercial market access and medical team.
EF: What are the main challenges and opportunities for a new company in the Brazilian market?
JA: With almost 46% of all Latin American budgets, Brazil is the largest market in the region. Brazil's pharmaceutical industry is worth just $40 billion and is expanding at 10% annually.
According to IQVIA, there are six significant trends that we need to consider for our approach. Ongoing investments in B2B engagement, the importance of real-world evidence, the shift to digital engagement, the loss of exclusivity opportunities, specialized market-focused R&D, and portfolio transformation will define the future of the Brazilian market and are the foundations of our strategy.
Through our well-established partnerships, we contribute to making specialty care treatments, including biosimilars, available at affordable prices, thus generating savings for payers and increasing access to innovative therapies in the region.
Moreover, Brazil can expand healthcare availability and maintain quality by fostering cooperation between the public and commercial healthcare sectors. Brazil already has many public-private collaborations, particularly in professional education and diagnostic testing. These partnerships will offer the Ministry of Health cost-saving opportunities in the next decade.
Regarding orphan drugs, I would like to refer to the importance of bringing together the efforts of all healthcare stakeholders and providing tests to speed up the journey of patients with rare diseases.
EF: What makes SteinCares the strategic partner of choice for the Brazilian market?
JA: As a multi-Latin company, we understand the region's needs and offer a unique portfolio that balances innovation and cost-effectiveness. We cover a broad range of treatments, from niche therapies for specific conditions to biosimilars for more widespread use, benefiting both patients and the government. With a team with a strong market access focus, and through our in-depth knowledge of local regulatory and operational processes, we are the ideal partner for companies seeking to enter the dynamic Latin American market.
EF: What is SteinCares' approach to recruiting new employees?
JA: People are the most crucial aspect of the company. At SteinCares, we believe that each team member plays a key role in achieving SteinCares' mission to create healthcare opportunities in the region; therefore, we value talent, passion, and the shared dream of working with purpose and making a difference.
Our approach to recruiting talent is driven by our culture, which we call our Stein Champions Journey. This means we look for people who are passionate, take ownership, and are continuously focused on getting things done. This ensures that our team always puts patients first and creatively overcomes challenges to improve access to healthcare. It's about mindset and front-line obsession.
EF: What is your team's five-year accomplishment target?
JA: We are one of the fastest-growing companies in Latin America. Our opening in Brazil is a key milestone in our expansion strategy in the region and is fully aligned with our long-term vision of providing greater access to innovative and cost-effective pharmaceuticals for Latin Americans.
Our strongest motivation, to celebrate in the short term, would be market authorizations by ANVISA, followed by price approvals and CONITEC reimbursement for our product portfolio.
Together, the team will celebrate outstanding work, reaching objectives, and starting new ventures with newly obtained licenses.
EF: Do you have any final message for the audience?
JA: We are here to make things happen. Our mission is to bridge the gap between Latin American healthcare providers and global pharmaceutical companies, becoming the preferred partner known for balancing cost savings and innovation.