This blog post is based on an article published by Biostock in Swedish on January 27th, 2023.
Medtech company Pharmacolog begins 2023 with the company’s largest order to date and a change of CEO. Per Persson, the new CEO, has extensive experience from the international market and the medical device industry. BioStock interviewedPer Persson about his background, hisnew role as CEO of Pharmacolog and the outlook for 2023.
Uppsala-based Pharmacolog has developed a series of products for quick and easy quality control during preparation of pharmaceuticals:
The WasteLog system prevents medicines from falling into the wrong hands, which is a growing problem in healthcare. DrugLog and PrepLog help staff in pharmacies and hospital wards avoid medication errors and ensure that the patient receives the right medicine and the right dose. Pharmacolog Dashboard is a web-based tool for monitoring and analyzing completed controls of drug preparations.
2023 starts with largest order to date
Pharmacolog is now in a growth phase and focused on reaching increased volumes and profitability. Demand is steadily growing, as recently proven by the company’s largest order to date: thirteen WasteLog units will soon be installed in US hospitals. The order comes from Pharmacolog’s partner Codonics and will provide Pharmacolog with approximately SEK 5 million, of which SEK 2 million relates to previously delivered systems.
Per Persson becomes new CEO at Pharmacolog
In mid-January, Pharmacolog announced that Per Persson will take over as the new CEO. The company’s chairman Erik Hedlund commented on the change of CEO in a press release:
Per Persson's long experience from medical technology and international business will be of the utmost importance for the continued development of new markets in Europe, the US and Japan. New partnerships will be established. We expect his skills and energy to be instrumental in the continued development of the company.
Per Persson’s priorities and plans
Pharmacolog’s new CEO comes to Pharmacolog from a CEO role at Acarix. He has also held leading positions at companies that include Atos Medical, Boston Scientific and St. Jude Medical.
Per Persson, CEO, Pharmacolog
BioStock contacted Per Persson to learn more about his background and new role as CEO at Pharmacolog.
Per, can you tell us briefly about your professional background?
– I started as a salesman of infusion pumps for drug administration in the late 80s. This led me to new challenges in the form of European product and marketing manager roles based in England and Belgium. Having had the opportunity to work in an industry that helps both patients and healthcare professionals, and at the same time is dynamic and developing, I have never considered leaving. I have had the opportunity to work in a global market with both marketing and sales and then also lead organizations in both listed and unlisted environments through companies such as Boston Scientific, St Jude Medical and Atos Medical.
What were the main reasons Pharmacolog attracted you?
– Quality control and patient safety are very important in order to be able to run effective healthcare. Pharmacolog has a strong focus on the US market in particular, where there is a gigantic problem with so-called drug diversion, i.e. narcotic drugs ending up in the wrong hands. Our product, WasteLog, is integrated into hospitals’ drug diversion prevention programs. It helps manage the preparations from drug preparation at the pharmacy back to destruction of drug waste. The problems with drug diversion are enormous, and most of us outside the US market have difficulty understanding its impact. There are strong regulatory requirements that hospitals must meet, and Pharmacolog offers just the right product to ensure that the hospitals can meet those requirements.
With your experiences and personalstrengths what do you hope to contribute to the company’s development?
– With my background, sales and marketing will be my primary focus. We have a strong product portfolio and a market that is growing incredibly fast. We have only begun our journey and can contribute much more. We are doing this the right way with the right priorities, and in a way that will illustrate to our shareholders that their belief in Pharmacolog was a good decision. Going forward, there are great opportunities for Pharmacolog to become a natural part of integrated processes where our products become part of the entire hospital’s handling of potent drugs. I will drive both our own organization and opportunities for strong partnerships in both Europe and the US to establish Pharmacolog as an innate part of the hospital environment.
Once you have settled into the company, what is at the top of the priority list?
– The US market will, of course, be at the top of the priority list, considering the situation with so-called drug diversion. We can really make a difference with WasteLog in the US market, which has enormous growth. Our channels to the market include both direct sales and partnerships, and we must put our resources into continuing to establish ourselves as the obvious alternative. I also see opportunities to develop our base of collaborations with other players who are part of the integration that we can do with WasteLog and other products. In Europe, there is continued development with our existing partners, mainly with DrugLog, which is used in quality control of potent drugs. We have systems installed in France, Spain, Belgium and Germany, among others, and we will focus on continuing to build on these collaborations to develop the entire business.
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