Read the Conversation
Meeting highlights:
- ESTEVE’S Legacy: The company has an almost 100-year history in Spain, yet it continues to grow and evolve as a purpose-driven and highly specialized company.
- Strategic Transformation: ESTEVE has evolved from a license model to a more self-driven, focused strategy built on three key pillars: inorganic growth (companies and products), the development of innovation, and a patient-centric approach. This transformation is firmly rooted in ESTEVE’s purpose: to improve people’s lives, particularly in areas of high unmet medical needs.
- Portfolio Evolution: The company is expanding internationally, including a new U.S. presence, and entering highly specialized segments, while maintaining a solid base in oncology and endocrinology. In Spain, we also have a presence in other therapeutic areas such as the central nervous system (CNS), ophthalmology, and consumer health (OTC).
- People & Culture: ESTEVE fosters a purpose-driven, diverse, and multigenerational workforce, with a high level of employee engagement, strong gender balance in leadership, and initiatives to attract and retain top talent.
- Personal Mission & Societal Impact: Rodrigo Bonilla is deeply motivated by ESTEVE’s alignment with his personal purpose—being close to the patient journey and creating meaningful impact, from cutting-edge treatments to practical innovations with real-world benefit.
EF: What are your key priorities for 2025, and how do you see the year shaping up from your perspective?
RB: We’re entering 2025 from a position of strength, but that momentum is deeply rooted in our purpose of improving people’s lives. When Spain had only a few pharmaceutical companies, we played a leading role by introducing innovation and breakthrough therapies to the country. That mission has guided ESTEVE for nearly a century. In 2018, we began a major transformation, realizing it was time to take greater ownership of our future: while staying true to our purpose, we shifted from a license-based model to building our own portfolio and evolving our business model.
In Spain, our strategy is built on three pillars: targeted acquisitions, innovation within our existing portfolio, and a patient-centric approach. These pillars allow us to grow while respecting our legacy. To support this evolution, we’ve also made significant changes in governance, structure, and operations. It’s a complex journey, but we’re managing it well, and that is why I can honestly say it is an exciting time, and everyone here is incredibly proud of the progress we are making.
EF: Could you briefly share the direction of your portfolio and key treatments in development?
RB: One of ESTEVE’s first strategic decisions was to transition into an international company. However, we did not want to grow simply by acquiring any available business but have been selective in acquiring companies and products that align with our long-term goals. Another major focus was expanding into highly specialized areas, reinforcing our commitment to addressing unmet medical needs. In Spain, we weren’t yet strong in that space, so we saw an opportunity to grow there while continuing to develop therapeutic areas, such as oncology and endocrinology, as well as the central nervous system (CNS), ophthalmology, and consumer health.
To support this strategy, we have been making acquisitions. This year, we’ve added three more products from different companies, all focused on areas with high unmet medical needs. These acquisitions strengthen our portfolio and support our ambition to grow in scale and impact. We’ll continue to pursue opportunities that help us expand our capabilities and deliver greater value to patients. It’s all about building the momentum we need to keep moving in the direction we’ve set.
EF: As ESTEVE grows globally, how important do Spain and Catalonia remain to the company's strategy?
RB: It is absolutely essential to our strategy that we regularly discuss, not just within the Spanish executive team, but also at the company’s global leadership level. Our company has two main divisions, Pharma and CDMO (Contract Development and Manufacturing Organization). The CDMO division plays a key role globally by supporting other pharmaceutical companies in bringing their products to market. This part of the business is highly respected and makes a significant contribution to patient care. ESTEVE has also signed agreements with universities in places like Barcelona and Girona (Spain) to develop talent for our specialized facilities. That is also outside my personal scope, but I can say we are very proud of these initiatives because they reflect our overall strategy and values.
In Iberia, our pharma division is deeply rooted in Catalonia, with major facilities and a large workforce. This presence allows us to contribute not only to healthcare, helping patients through innovation and treatment, but also to making a significant contribution to the economy and society. We also maintain strong partnerships with patient associations and scientific communities, which are essential for ensuring that our work remains relevant and impactful at a local level. It is about more than just healthcare; it is also about our role in broader society and how we are building a strong reputation through all that we do.
EF: Could you elaborate on specific initiatives ESTEVE is undertaking to create value for patients, the environment, or sustainability?
RB: I have worked in many multinational companies, and what I have noticed is that countries like Spain are often viewed as secondary markets. The headquarters are usually in places like Japan, Switzerland, the UK, or the US, and as a result, Spain sometimes does not get the full attention it deserves. We cannot expect to grow abroad if we are not strong and successful here at home. Spain’s success is critical to our global growth, which is why we continue to invest heavily here.
We’re one of the founding patrons of the Sant Joan de Déu Pediatric Cancer Center in Barcelona, a leading center of its kind in Europe. It’s a great example of how we’re committed to patients in the long term. We also publish our financial results and go beyond expectations to foster transparency and accountability. We are proud of what we are doing and want everyone, including external stakeholders, to see that. We’ve also committed to sustainability and, for example, to becoming carbon neutral by 2050. But sustainability, for us, goes beyond environmental goals. We’re focused on developing talent and creating opportunities, both in Spain and across our markets. It’s about being responsible towards people and communities and ensuring that our growth is inclusive and sustainable.
EF: How does ESTEVE attract and retain top talent, and what makes its culture appealing to employees?
RB: I am really lucky to lead this team. When I joined ESTEVE two years ago, the first thing I noticed was how deeply committed everyone at ESTEVE is. ESTEVE has a powerful legacy. It played a pioneering role in the early days of pharma in Spain, even introducing one of the first penicillin products. That history has fostered a passionate and dedicated workforce. Leadership’s role has been to provide a clear roadmap so that this energy is directed toward meaningful goals. Since then, we’ve seen remarkable engagement, with nearly 98% participation in employee surveys and a significant increase in feedback and involvement from 2023 to 2024. People feel heard and are actively contributing to shaping our future.
We’re also proud of the diversity within the company. ESTEVE has been around for a long time, so we have several generations working together. For instance, 50% of managerial positions are held by women, reaching more than 60% among our top leaders in Spain. We continue working to strengthen this balance and maintain a near 50/50 gender split across the company, not through quotas but by hiring the best talent. This level of diversity has happened naturally. Experienced team members nearing retirement continue to contribute, mentoring younger colleagues and sharing decades of knowledge. We have also developed programs that connect with universities to raise awareness of our impact on healthcare and society.
And it is working: more people want to work with us, and our turnover remains low. When someone joins us, they find a strong brand, a clear purpose, a strategic direction, and a culture of support. That is what helps us attract and retain great talent.
EF: What are you currently most excited about at ESTEVE?
RB: I’m deeply passionate about my work, and I’ve always felt that my personal purpose aligns closely with ESTEVE’s mission. I’ve worked in nine countries across Latin America, the U.S., and Europe, and in each place, I’ve seen how healthcare can transform lives. One experience that left a lasting impression on me was helping launch an HIV treatment in a country with very limited options. Seeing the direct impact on life expectancy was incredibly powerful. That experience made me realize the impact this work can have, and it sparked a drive in me to continue seeking ways to help more people on a larger scale. That’s the kind of meaningful change I’ve always sought, and it’s what brought me to ESTEVE.
What excites me most is how quickly we can turn purpose into action. I have worked for large multinational companies before, and often, change is slow and heavily layered. Even simple improvements can take a long time to implement. ESTEVE moves fast, and being attuned to patients' needs and acting promptly can make a significant difference.
These are just a few examples of how being close to patients and acting decisively can make a real difference. When your purpose aligns with your company’s mission, it doesn’t feel like work; it feels inspiring. And that energy is shared across the team. People come in on Monday mornings with drive and belief in what we’re doing. ESTEVE is a place where you can truly make an impact.
EF: As ESTEVE approaches its 100-year milestone, what do you hope to celebrate, and what message would you like to share with your team?
RB: My perspective may evolve over time, but right now, when I think about the coming years, I think about how far we’ve come and where we’re headed. I’ve spent the last 17 years of my career in highly specialized areas like oncology and rare diseases, where the impact was readily apparent. When I joined ESTEVE, I found myself shifting between very different topics, from rare conditions to mosquito repellents. And at first, that contrast felt stark. But I soon realized that the true value of our work lies in the difference it makes in people’s lives. Whether we’re addressing a niche disease or a broader public health need, we can still innovate, excel, and create a meaningful impact.
What inspires me most is seeing people at ESTEVE grow, reinvent themselves, and bring out their best. That spirit has been part of the company since its founding in 1929. If we can continue evolving, contributing to key conversations with institutions and stakeholders, and doing so while staying true to our values, that will be a milestone worth celebrating by 2029.
To me, the real opportunity lies in redefining how the pharmaceutical industry engages with society. Too often, our sector is seen as transactional. But we want to be more than that. We want to bring real value to society and play a meaningful role in it. Whether we’re speaking with a doctor, a pharmacist, or a patient, we must ask ourselves: what value are we bringing to them? We aim to be recognized for making a genuine difference. To do that, everyone needs to acknowledge their role and take responsibility for contributing to that vision. And if we manage that, and I truly believe we will by 2029, we will have a lot to celebrate together.
