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BMS Looks To Drug Pipeline To Increase Revenue
New general manager will concentrate on people development
By MARIALBA MARTINEZ
December 18, 2003
Bristol-Myers Squibb Puerto Rico Inc. (BMS) will focus in 2004 on four new products launched in the past 16 months that have helped the pharmaceutical manufacturer finish 2003 with a projected $100 million in local sales.
Puerto Rican Edda Guerrero, BMS new president & general manager for Puerto Rico & the Caribbean, recently returned to the island to oversee the companys commercial subsidiary. Guerrero, who has more than 16 years experience in pharmaceutical sales & marketing, is responsible for more than 60% of BMS operations. She manages Mead Johnson, BMS nutritional business; ConvaTec, which provides products for ostomy patients and wound care; and Medical Imaging, for cardiovascular imaging.
"As general manager, I have the opportunity to manage all of the functions that support the business," said Guerrero. "Previously, I managed the business from a particular function. Now, I can make decisions about the financing, human resources, and strategies of the operation. It is fulfilling to manage all of the aspects and see the results."
BMS is No. 6 in Puerto Rico in terms of sales, with a 5% share of the total $1.2 billion market. "We are growing with the market, which shows an 8% growth rate," said Guerrero. "For 2003, we expect product revenue in Puerto Rico to reach more than $100 million, with single-digit growth over 2002."
Guerrero said she is focused on people development in Puerto Rico, assigning staff to roles where they can contribute and grow. "Diversity [on the island] is different than on the [U.S. mainland]," she said. "There you have to consider people of color, while in Puerto Rico diversity initiatives mostly focus on women.
"In relation to the U.S. and Latin America, Puerto Rico is very much aligned in terms of the percentage of women participating in the company at the management level. Of an operations team of seven managing BMS, I am pleased that three are women," added Guerrero. "In addition, the islands sales force compares favorably to the mainland, with approximately 50% being women."
BMS is devoted to expanding its 10 development areas in 2004. These include oncology, affective disorders, Alzheimers disease / dementia, diabetes, hepatitis, rheumatoid arthritis, atherosclerosis / thrombosis, HIV / AIDS, solid organ transplantation, and obesity.
"The company will continue aggressively marketing four new products," said Guerrero. "Reyataz is the first protease inhibitor that is taken once a day for the treatment of HIV / AIDS. While it is now produced in Japan, its production could be transferred to Puerto Rico in 2004.
"Another successful product is Ability, a once-a-day treatment for schizophrenia that is produced in Mayaguez," added Guerrero. "BMS is hoping to launch Erbitux, a new treatment for colorectal cancer in the first quarter of 2004. And Plavix, a treatment for heart disease, is the third best-selling BMS product in Puerto Rico and a key growth driver for the company."
This Caribbean Business article appears courtesy of Casiano Communications.