With just 42 employees, Farmalíder turned over €25 mill. in 2011 thanks to a formula based on team-based innovation and creativity.

Small Spanish pharmaceutical company Farmalíder is pulling through the crisis in its sector. It has offices in New Zealand, Turkey and Florida, and turnover is growing every year. The secret, according to Chairman José Luis Berenguer, is a working model called the “Ideas Factory” built on team-based innovation and creativity.

Founded in Madrid in 1986, Farmalíder specialises in R&D in generic drugs and identifies molecules with medical and pharmacological applications. It tailors its resources to the needs of pharmaceuticals giants and helps them get more from their patents. Berenguer is keen to stress the importance of generic drugs, which can take 10 years to develop and are part of the innovative process required to stay competitive. Farmalíder already has 30 products on the market and is working on 20 more – seven with guaranteed market entry. To achieve this, it is looking for financing of about €20 mill., and is contemplating stock market launch.

Farmalíder, which itself spends 30% of turnover on RD&I, is particularly concerned about government cutbacks in this area. Berenguer sees this as a mistake, causing the loss of research teams that have taken many years to form. Farmalíder is also committed to the welfare of its workers who enjoy flexible hours and a pleasant working environment. “An employee who is happy in their post works harder and better”, he adds.

Turning Ideas into Medicine