Dermatology Rxs market primed for substantial growth: report
Derm will keep growing at 10%+ annually through 2031. Plus: Microsoft nerds add magic sauce to Almirall's ambitions; LEO touts agility; Rodan + Fields walks back its multi-level marketing approach
Welcome to the back-to-school edition of Dermatology.Business, where some might pose the question, “Hey, check out that forehead. Did he get some work done over the summer?” That is none of our concern. We’re here every other Wednesday to inform you about what’s happening in the Dermasphere and maybe lob out some sarcasm here and there just because we can. Tell your teams and colleagues about us because they’re just as entitled to get schooled as you are.
By the numbers
2022 market size: Cdn$25.2 billion
Projected 2031 market size: Cdn$55.1 billion
Forecast CAGR (2024-2031): 10.5%
Why it matters: Rising skin disorder prevalence and treatment innovations are driving rapid expansion in the dermatology drugs market.
Almirall, pledging derm reinvention, finds a mate in Microsoft
Driving the news: Almirall, the Spanish medical dermatology outfit, has announced a strategic partnership with Microsoft to accelerate digital transformation and innovation in dermatological treatment development. Over the next three years, the collaboration will focus on leveraging generative AI and advanced analytics to enhance drug discovery and development.
Why it matters: This partnership aims to transform Almirall's approach to drug discovery by integrating Microsoft's cutting-edge digital technologies with Almirall's extensive R&D expertise. The collaboration will create a joint Digital Office to drive digital innovation and optimize operations through a unified data platform.
All the deets
Almirall will use generative AI for rapid analysis of large datasets, aiming to discover new therapeutic targets and synthesizable molecules for its dermatology pipeline.
The partnership will also focus on building an intelligence-driven technology platform to prioritize drug discovery based on novelty and commercialization potential.
A new approach to data management will be established, enhancing data governance and security while fostering collaboration.
What they’re saying
“Almirall emphasizes the importance of collaboration in leading innovation, stating that the partnership with Microsoft is a significant step in their digital transformation journey to deliver novel treatments.” — Alberto Granados, Microsoft Spain’s GM (pictured below, right, with Carlos Gallardo, Almirall CEO)
What’s wrong with this picture?(Clue: These pharma and tech executives appear to be signing paper documents with old-timey pens filled with old-fashioned ink. Their Microsoft Surface tablet devices must have run out of power or something…)
The bottom line: This collaboration advances Almirall’s quest to become a larger global force in dermatology, utilizing Microsoft’s tech-savvy to push the boundaries of Rx discovery and development.
LEO Pharma’s theory: ‘Agile’ can beat ‘big’ in the US dermatology market
Why it matters: As a smaller player competing with pharma giants in the US dermatology space, LEO Pharma is leveraging agility and specialization to carve out its niche.
Key points
LEO is competing with “behemoths” such as Regeneron, Eli Lilly, AbbVie, and Pfizer in atopic dermatitis treatment.
The company aims to be the leading “med derm” company, prioritizing hard-to-treat patients and understanding dermatologists' needs.
LEO’s strategy emphasizes quick responses to healthcare professionals’ ideas and unique partnership initiatives.
What they’re saying: “We can’t just be Big Pharma light,” says Brian Hillberdink, EVP at LEO Pharma and President of its USA affiliate. “Instead of having size and scale, what we can have is agility.”
The big picture: LEO Pharma is positioning itself as a dedicated medical dermatology company, differentiating from larger pharma companies that operate across multiple therapeutic areas.
Rodan + Fields shakes up business model, cuts 100 jobs
What’s up: Rodan + Fields, the skincare outfit founded by dermatologists Drs. Katie Rodan and Kathy Fields [pictured below] moved from a multi-level marketing model to an affiliate program on Sept. 1, reports Cosmetics Business.
Why do it? The shift aims to help the skincare brand compete with online platforms such as TikTok Shop and Amazon.
Around 100 roles were eliminated due to the reorganization.
Existing affiliates will receive increased commissions on sales and product discounts under the new model.
The company has secured up to US$75 million in funding from current minority investors to support the transition.
A Special Report for dermatology marketers from our partners at3H Communications
Pharma’s digital dilemma: Connecting with millennial doctors
The big picture: As millennial healthcare professionals (HCPs) reshape the medical landscape, pharma companies face a critical challenge in adapting their communication strategies.
By the numbers
60% of content targeted at HCPs is dismissed as clutter
Millennial HCPs show 20% less trust in pharma channels compared to Gen X
70% of HCPs use social networks for educational purposes
42% source information from search engines
Why it matters: Millennial doctors, now aged 43 to 49, prioritize work-life balance and digital engagement, marking a significant shift from the workaholic baby boomer era.
Zoom in
Digital natives: Millennial HCPs expect streamlined, efficient information delivery
Social media savvy: Over half of HCPs create medical content for social platforms
Nurse practitioners lead: This fastest-growing HCP segment is predominantly millennial, with significant prescribing power
Between the lines: Pharma companies must pivot to digital-first strategies to effectively reach and engage this new generation of HCPs.
The takeaway: Failure to adapt could leave pharma brands behind in an increasingly digital healthcare landscape.
eClinicalWorks launches AI scribe for dermatology clinics
Why it matters: The new AI-powered tool, Sunoh.ai, aims to streamline clinical documentation for dermatologists, potentially improving efficiency and patient care.
Key features
EHR-agnostic integration
Ambient listening technology
Seamless integration with eClinicalWorks Dermatology module
Compatible with iOS, Android, Windows, and macOS devices
What they’re saying
Girish Navani, CEO of eClinicalWorks: “Our customers can now leverage the benefits of cutting-edge AI-powered technology specifically designed to enhance dermatology care.”
Saurabh Singh, VP of Sunoh.ai: “We can provide dermatology professionals with a seamless tool that saves valuable time, reduces costs, and increases accuracy.”
How it works: Dermatologists can dictate observations about skin conditions, including location, size, and colour. Sunoh.ai then translates these conversations into comprehensive clinical documentation.
The big picture: This launch represents a growing trend of AI integration in healthcare, particularly in specialties like dermatology that rely heavily on visual observations and detailed documentation.
Biofrontera's Q2 marks turnaround with 34% sales boost, debt cleared
German PDT-developer Biofrontera is making waves in the dermasphere, posting a 34% sales increase in Q2 2024 and clearing its debt.
Why it matters: The company’s financial turnaround and strategic product placements signal potential growth in the competitive derm market.
By the numbers
Q2 revenue: US$7.8 million
Cash on hand: US$4.4 million (as of June 30, 2024)
BF-RhodoLED lamps placed: 57
Key developments
FDA-approved RhodoLED XL lamp launched
New Ameluz formulation approved, enhancing tolerability
Expecting FDA approval for increased Ameluz use in Q4 2024
What’s next: Clinical trial data for acne, actinic keratosis, and basal cell carcinoma are expected in 2025 and late 2024.
The bottom line: Despite operating at a loss, Biofrontera’s debt clearance and sales growth position it for potential market expansion, pending upcoming FDA approvals and clinical trial results.
Precision dermatology company DermTech (traded as DMTK on the Nasdaq exchange) has filed for bankruptcy protection in Delaware.
Why it matters: This move highlights the challenges innovative biotech companies face in maintaining financial stability while developing cutting-edge technologies.
The big picture: DermTech, known for its non-invasive skin genomics technology, is seeking to continue operations and sell its assets while navigating the bankruptcy process.
Details
The company plans to continue processing orders for its DermTech Melanoma Test (DMT) during the bankruptcy proceedings.
A reduction in force (RIF) has been implemented, cutting about 20% of the workforce (15 employees).
Further workforce reductions may occur in the future.
What’s next: DermTech will work with advisors to maximize asset value and protect stakeholder interests through the bankruptcy process.
Write this down: The company is unaffiliated with Montreal-based Dermtek Pharma, creator of the successful Reversa anti-aging line.
Dr. Alastair Carruthers (1945-2024)
Few dermatologists created as great a legacy as the late Dr. Alastair Carruthers, who died on August 19 in Vancouver. Dr. Carruthers, with his wife, ophthalmologist Dr. Jean Carruthers, discovered cosmetic applications for botulinum toxin A (Botox). Following its FDA approval in 2002, Botox’s availability has led to a revolution in aesthetic dermatology and created a path to contemporary dermatologic practice. Dr. Carruthers was a member of the dermatology division at the University of British Columbia since 1977. We extend our sympathy to the Carruthers family and their colleagues at UBC.
Takeda is looking for a Global Medical Lead in Dermatology, based in Boston
Establish the Global Medical Lead as the Takeda trusted Global Medical partner, establishing, developing, and growing science-driven strategic partnerships with external experts, academic centers, and centers of excellence
What’s it about?
Work with the Global Medical Unit Head (GMUH), medical functional leads, immunology leadership, and global launch excellence teams to conceive and craft the multi-year vision for zasocitinib (TAK-279) in dermatology
Provide scientific support aligned with the Global Program Team (GPT) and global brand strategy, incorporating cross-functional strategies (e.g. Commercial, Regulatory, and Region/country medical partners, and others, as appropriate)
Lead development and execution of the global medical affairs (GMA) strategic and tactical plans, in collaboration with GMUH
Lead the development, execution, and regular (annual) updating of the global KOL engagement, CME, and advisory board/consulting plans
Serve as global medical expert and steward and custodian of scientific knowledge in collaboration with scientific communication partners
Be recognized as global medical subject matter expert (SME) with both internal and external audiences
What they’re looking for
Advanced scientific degree (MD, PhD or PharmD)
5+ years of experience in biopharmaceutical medicine, preferably within a matrix or franchise structure
Experience in medical affairs is required, preferably in a highly active and competitive medical therapeutic area
Experience working in cross-functional teams at the brand or disease area levels in country, regional, or global organizations is preferred
Experience in the disease area of interest through clinical (patient care and/or clinical trial) experience, biopharmaceutical experience or education is preferred
Availability to travel approximately 25% of the time (domestic & international)
Smith and Nephew needs a Senior Manager of Market Access & Business Development (Toronto, Vancouver or Calgary)
The Senior Sales role works closely with a cross-functional team, including marketing, operations, medical education, and clinical departments, to strategize and implement projects that support clinical pathways for both patients and healthcare providers.
You will meet the national sales quota while driving growth and advancing the positioning of S+N’s key products.
Degree in Science or Healthcare, Masters preferred
Licenses/ Certifications: CMAP is an asset
Experience in negotiating with public and private insurers, with a solid understanding of the Canadian reimbursement landscape (CADTH, pCPA, PMPRB, RAMQ) and a proven ability to conduct market research to understand payer needs and trends
Familiarity with healthcare patient support programs, pharmaceuticals, or medical devices is beneficial for market access. Strong in project management and analytics
The ability to travel up to 50% nationally, including overnight, is required, including visiting clinical settings and industry-specific conferences
Innovaderm Research Inc. needs a Business Development Director, Large Pharma accounts based in Montreal
The position
Reporting to the Executive Director of Business Development, the individual collaborates with the senior management team to define and develop future revenue growth strategies and execute the agreed-upon annual sales plan. Initially, this individual was responsible for sales activities in North America and Europe for the assigned pharmaceutical account portfolio.
The requirements
Bachelor’s degree in a relevant discipline (business administration, sciences);
Master’s degree and experience selling into the dermatology and rheumatology therapeutic areas an asset
At least eight years of experience in the biotechnology, pharmaceutical/or contract research organization (CRO) industry in a business management and marketing position
Good knowledge of good clinical practices and applicable European Medicines Agency (EMA), Health Canada and Food and Drug Administration (FDA) regulations/guidelines.
The ability to travel internationally to meet clients and attend conferences is required, as is the ability to participate in meetings as needed at the corporate HQ in Montreal.
Psst. We’ve got some real estate we think you might be interested in. If you’ve got a message, a campaign, or a service proposition you’d like to communicate to an audience of 1,370 managers, executives and decision-makers in the dermatology space, Dermatology.Business wants to partner with you. We can work with you to create and deploy sponsored content (images, text, video), advertising positions, along with some other stuff you probably haven’t heard of. Get in touch at health@chronicle.org or call 416-916-2476
We hope you enjoyed this issue of Dermatology.Business.We’ll be back to report to you again in two weeks. Meanwhile, stay in touch by letting us know what’s going on in your world: spread the word about your wins, and keep the community posted about job openings, career moves, new pipeline prospects and other items of interest. Please pass the newsletter on to your teams, colleagues, and friends by clicking the link below.
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Dermatology.Business is published by Chronicle Companies, 701 Ellicott Street, Buffalo, NY 14203. Canadian Offices: 1460 The Queensway, Suite 212, Etobicoke, Ont. M8Z 1S4
Mitchell Shannon, Publisher; R. Allan Ryan, Editorial Director; John Evans, Joyce Pitters-Hands, Jeremy Visser, Shannon Abbott, Contributors; Cristela Tello Ruiz, New Business Development; Darren Stallman, Consultant; Amy Elder, Intern
