Now that Apotex bought Blexten-maker Searchlight, could other derm acquisitions follow?
The Canadian generic mainstay positions itself for international growth in branded Rxs. Which takeover target will be next? Plus: red-hot laser market, CMO merger, tired Pso patients, and much more
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Apotex, the Canadian generic drugmaker, is planning for global expansion following its acquisition by New York-based private investment firm S.K. Capital a year ago.
At the 2024 Bloom Burton Healthcare Investor Conference, Allan Oberman, President and CEO of Apotex, said a key component of its growth strategy is its emphasis on partnerships. Apotex offers services for companies seeking entry into the Americas market in R&D, manufacturing, distribution, regulatory compliance, and market access.
Oberman [pictured below] said Apotex is venturing into specialty pharma beyond its traditional focus on generics. He highlighted Apotex’s recent acquisition of Searchlight Pharma, a Montreal-based company with a product portfolio that includes dermatologicals. The company also serves the allergy, neurology, pain management and hospital specialty markets.
The Globe and Mail reported the sale as valued at more than Cdn$500 million, which if accurate would be an exceptionally high figure for an all-Canadian life sciences deal. Searchlight’s dermatology portfolio includes antihistimine bilastine (Blexen), indicated for hives.
According to Oberman, buying Searchlight enables Apotex to expand its reach beyond Canada and tap into markets across the Americas, including the USA and Latin America.
Oberman said that Apotex will continue its Canadian operations while pursuing other global growth opportunities. He plans to maintain the company’s headquarters and continue a significant manufacturing presence in Canada. He noted that two-thirds of Apotex’s manufacturing facilities are located in Canada, and all of these facilities are U.S. FDA and Health Canada-approved. Oberman also emphasized that Apotex is “Canadian-based, Canadian-led, Canadian-managed, and proudly Canadian.”
Oberman disclosed that Apotex has revamped its leadership structure to incorporate managers with global experience to propel the company's international growth. Additionally, the company has blended new executives with familiar names, including veterans Barry Fishman as Chief Corporate Development Officer and Alok Kanti, ex-Innovative Medicines Canada chair, as International President.
Guessing game: If Apotex is determined to fill its shopping cart with a second Canadian derm acquisition (and a third), who might be next in the sightlines? Could it be that Montreal-based publicly traded company with a current market cap of less than Cdn$10 million? Or will they target one of the several privately held groups with strong track records and scalable product lines? Use the comments section below to post your thoughts.
Derm laser market set for explosive growth
According to a new report, the dermatology laser market is poised for significant expansion.
Key takeaways
Projected to reach US$3.49 billion by 2033, up from US$1.77 billion in 2023
7.0% compound annual growth rate expected over the next decade
Growth driven by technological advancements and increased aesthetic consciousness
Market drivers
Rising prevalence of skin disorders
Growing elderly population
Increased healthcare infrastructure spending in developing economies
Challenges
High treatment costs
Potential side effects (skin discoloration, infection risk)
Industry developments
FDA approvals for new laser technologies (e.g., Vbeam Prima)
Advancements in psoriasis and atopic dermatitis treatments
Why it matters: The booming dermatology lasers market reflects the growing demand for advanced skincare solutions, presenting significant opportunities for industry players and investors.
Canadian Dermatology Association honours excellence in 2024
The Canadian Dermatology Association (CDA) announced its 2024 award recipients, recognizing outstanding contributions in dermatology:
Key takeaways
Dr. Kirk Barber receives the Lifetime Achievement Award for 40+ years of exceptional service and research.
Dr. Jennifer Beecker earns the Award of Merit for groundbreaking research and CDA contributions.
Dr. Steven Glassman was named Practitioner of the Year for community service and mentorship.
Early Career Volunteer Awards go to Drs. Jérôme Coulombe and Jori Hardin for their dedication to education and underserved populations.
Why it matters: These awards highlight advancements in dermatological care, research, and education across Canada.
MedPharm and Tergus Pharma merge to create CMO dynamo
U.K.-based MedPharm and North Carolina-based Tergus Pharma announced their merger, which they say will create a leading topical and transepithelial Contract Development and Manufacturing Organization (CDMO)
The combined entity will operate under the MedPharm name
Michael Kane was appointed CEO, and Patrick Walsh continues as Executive Chairman
Why it matters
Establishes end-to-end CDMO with robust scientific, clinical, and commercial capabilities
Addresses pharma industry demand for integrated ophthalmic, topical, and transdermal services
Expanded capabilities
Commercial production and serialization
Development and manufacture of hormone-based and highly potent drugs
Facilities in the U.K. and U.S., including a new 97,000 sq. ft. facility in Durham, N.C.
The bottom line: The merger strengthens the outfit’s presence in topical and transepithelial pharma development and manufacturing, offering comprehensive services to innovators of all sizes.
Fatigue in psoriasis patients: It’s more than skin-deep
A groundbreaking study of 2,741 psoriasis patients just published in the Journal of the American Academy of Dermatology reveals:
All fatigue components are elevated in psoriasis patients compared to the general population.
Psoriatic arthritis (PsA) significantly worsens general fatigue, physical fatigue, and reduced activity.
Joint pain and itch drive fatigue more than psoriasis severity.
Key insights
Mental fatigue and reduced motivation are equally affected in psoriasis and PsA.
Systemic low-grade inflammation may contribute to fatigue in psoriatic disease.
IL-23 and IL-17 inhibitors significantly reduce fatigue, pain, and itch.
Bottom line: The study underscores the need for a symptom-based approach in psoriasis treatment rather than focusing solely on objective severity measures.
Why it matters: This research opens new avenues for targeted therapies addressing fatigue in psoriatic disease, potentially improving patient outcomes and quality of life.
Skin Spectrum Summit is pleased to announce the Third Colloquium on the Black Patient in Dermatology, chaired by Dr. Andrew F. Alexis, on Saturday, August 17th at 10:00 a.m. EDT. For sponsorship information, please get in touch with Shannon Abbott, Joyce Pitters-Hinds, Darren Stallman or Mitch Shannon. Find the program information at https://skinspectrum.ca
MARKET SNAPSHOT: So, how’s the last 50 years been for you, Eli Lilly?
MARKET SNAPSHOT: So, how’s your year going, Novartis?
Who’s hiring
Medexus Pharma of Montreal seeks an Allergy/Dermatology Director to oversee their product portfolio in these therapeutic areas. This senior-level position comes with significant responsibilities and requirements:
Experience
Minimum five years in pharmaceutical marketing
At least three years managing a sales team
Knowledge
In-depth understanding of dermatology and allergy markets
Bilingual proficiency in French and English
Job Responsibilities
Managing the allergy and dermatology product portfolio
Developing marketing strategies, overseeing product launches, and managing the lifecycle of existing products
Leading and developing a sales team
Travel
The position requires travel 30% of the time
Jean-Claude Beaudoin is interested in hearing from interested candidates.
Sanofi Specialty Care is looking for a Dupixent Dermatology Customer Marketing Lead
Location: Toronto (Remote option available)
Key Responsibilities
Implement marketing strategies for Dupixent Dermatology
Build customer engagement strategies for key opinion leaders
Lead regional marketing programs and customer audits
Identify clinical management gaps and provide solutions
Requirements
Bachelor's degree (Marketing, Business, or Science preferred)
6-9 years of pharma experience in customer-facing/commercial roles
Strategic thinking and adaptability
60-80% travel capability
Benefits
Career growth opportunities
Comprehensive rewards package
Health and wellbeing benefits
Sanofi is an equal-opportunity employer committed to diversity and inclusion. Accommodations are available for applicants with disabilities.
Allergan Aesthetics (part of AbbVie) is looking for a Practice Excellence Manager
Key Responsibilities
Create and manage practice development initiatives in Canada
Develop content strategy aligned with customer needs and organizational goals
Lead end-to-end process for practice development solutions
Collaborate with cross-functional teams and industry experts
Manage practice development solutions website (Catalyst)
Requirements
Understanding of medical aesthetics and practice management
Experience in sales, marketing, or customer-facing roles
4+ years in CPG or pharmaceutical industry
Strong project management and analytical skills
Bilingualism (French/English) is an asset
20% travel capability
Key Competencies
Adaptability, collaboration, innovation
Strategic thinking and customer-centricity
Strong communication skills
Allergan Aesthetics offers an inclusive, supportive environment focused on advancing aesthetic medicine and improving people's lives. AbbVie is an equal-opportunity employer committed to diversity and inclusion.
Victoria Park Medispa is seeking a Vice President of Operations
Key Responsibilities
Optimize national operations across 23 locations
Achieve world-class Key Performance Indicators (KPIs)
Oversee integration of new clinics
Drive performance, profitability, and efficiency
Develop and manage teams
Collaborate on strategic planning
Requirements
10+ years of progressive operations experience
Experience in multi-location management
Strong leadership and analytical skills
Proficiency in French
Willingness to travel across Ontario, Quebec, Manitoba
Bachelor's degree (Master's preferred) in Business or related field
Key Competencies
Relationship management
Communication and problem-solving
Data-driven decision-making
Adaptability in a fast-paced environment
Kenvue (formerly J&J Consumer Products) needs a Senior Manager Regulatory Affairs (Regional Skin Health) for its operation in High Wycombe, England
Key Responsibilities
Lead a team responsible for the development of regulatory strategies across the EMEA region providing regulatory input and technical guidance on regional regulatory requirements to product development teams within the regional Skin Health segment
Leads a Regulatory Affairs team ensuring the success of new product development, line extensions and new claims in alignment with the business plan
Create an environment of operational excellence through regulatory expertise by managing and developing direct reports and collaborating with cross-functional teams to successfully achieve regulatory objectives
Manages the regional regulatory deliverables for cosmetics, commodities & medical devices as relevant, within their brand area & geographic responsibility