I spend 50% of my time mentoring at-risk high school and college pharmacy students, including teaching an Entrepreneurship course at the UW School of Pharmacy. The other 50% is dedicated to board work and assisting smaller companies—all in becoming bigger and more profitable.
I founded ZEDpharma, Inc. with a simple goal--to advise and assist company founders in achieving that often times elusive next level of growth. This is often easier said than done, but with the right strategy and capital it can be accomplished and is a natural evolution of a company—and a successful beginning of an exit strategy for a founder or owner.
Another issue for companies is to determine the ideal timing to bring on a capital partner, whether private equity or other investors; when to take some “money off the table”; and finally, how to work with your new capital partners as you become a minority shareholder.
I’ve been in pharmaceutical fields for over 30 years, including Big Pharma, Biotech, Generics, Distribution companies and Start-ups—the last 15 years of my career was focused on building up and selling companies while CEO or president, oftentimes working with private equity to acquire the companies, build them up, develop the best exit strategy for each company leading to a successful sale.
I was president of Bioniche Pharmaceuticals, a manufacturer of branded and generic injectable products, leading to the sale to Mylan Pharmaceuticals for $550MM in late 2010. Before that, I was president of Sabex-USA leading to its sale to Sandoz for $480MM in 2004, where I then headed up the Sandoz US injectable business. Before that, I was president of GIV, which at that time was the largest distributor of vaccines to physician offices, leading to the sale to Henry Schein, the multibillion-dollar distributor. I’ve also held executive positions at Fujisawa (now Astellas), Akorn Pharmaceuticals, Roxane Laboratories and Eli Lilly and Company.
In other words, I have an idea of how to build up a company and sell it—but also how to work with private equity and other capital partners.