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Shire CEO: ‘Significant innovation vacuum’ in ophthalmology
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SAN DIEGO — Ophthalmology is at the top of the list for new franchises being built at Shire, according to company CEO Flemming Ornskov, MD.
Ornskov discussed the company’s commitment to ophthalmology since entering the market in 2014 and in the future, here at the American Society of Cataract and Refractive Surgery meeting.
Flemming Ornskov
“The way we like to come to market is to bring true innovation,” he said. Shire has acquired three ophthalmic companies – SARcode Bioscience, Premacure AB and BIKAM Pharmaceuticals.
The company’s current top three franchises are rare diseases, neuroscience and endocrinology. Most of the focus is on rare diseases, but Ornskov believes there is a great opportunity for “cross-fertilization.”
“It is almost old-fashioned and not popular, but we see ourselves as a biotech company, which means we invest significantly in research and development. We typically spend north of 14%,” he said.
When entering a new therapeutic area, Ornskov said the company’s philosophy is to become one of the top three companies in that arena, achieved primarily by bringing innovation to the market.
In ophthalmology, Shire will focus on innovation and strong relationships with patients and physicians, he said.
“We like small and specialized spaces and we count ophthalmology to that,” Ornskov said. “We think there is a significant innovation vacuum for someone who truly focuses on the patient aspects of ophthalmology.”
On April 9, the FDA granted priority review designation for lifitegrast for the treatment of dry eye in adults.
“We will work with the FDA. We are optimistic,” Ornskov said.” - by Joan-Marie Stiglich, ELS
Disclosure: Ornskov is CEO at Shire.