At the end of August, LEO Pharma announced that it will accelerate its R&D efforts and diversify its portfolio of medicines to cover a range of dermatological indications including rare diseases.
The company is aiming to launch a new innovative treatment every 2-3 years, it states.
“Building on our strong legacy and deep understanding of the science in dermatology, we have a huge potential to bring new medicines forward to patients and physicians. Our ambition is to expand our leadership position in topical dermatology to become a global leader in medical dermatology advancing the standard of care for patients with skin diseases,” says Catherine Mazzacco, CEO, LEO Pharma.
Considering a change in ownership structure
To support LEO Pharma’s ambitions, the LEO Foundation, its owner, is considering changing the company’s ownership structure. The LEO Foundation was established in 1984 with the purpose of ensuring LEO Pharma’s future as an independent, research-based pharmaceutical company and is one of the largest commercial foundations in Denmark.
“While the LEO Foundation will always remain the controlling shareholder of LEO Pharma, we are open to changing the current ownership structure in the longer term to further fuel the growth of LEO Pharma,” says Jesper Mailind, CEO of the LEO Foundation.
Reduce up to 650 positions
LEO Pharma is proposing a re-alignment of its structure to execute on its strategy. Over the next two and a half years, it is proposed to reduce up to 650 positions, while making investments to create up to 400 new positions.
“For the continued success of our R&D investments and delivering on our strategy, we are building an agile, efficient and focused organization. Because this may have an impact on people, we are not taking this lightly and will carefully evaluate and limit it as much as possible,” says Catherine Mazzacco.
Photo of Catherine Mazzacco: LEO Pharma