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Pearson: Valeant/Bausch + Lomb innovation pathway not mired by preconceived budgets, organic growth demands
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SAN DIEGO — Valeant approaches innovation with the concept “the best idea wins” vs. the approach of other companies that their projects “are better no matter what,” said J. Michael Pearson, chairman and CEO of Valeant Pharmaceuticals, during his plenary talk, here at the Ophthalmology Innovation Summit.
Innovation is not created in large companies, he said. Pearson believes that the pathway to innovation is through universities, start-up companies and practicing physicians.
“We evaluate each product and opportunity on the basis of its merits and not whether the idea was internally or externally generated or whether it fits into a preconceived budget of R&D,” he said.
At Valeant and Bausch + Lomb, there is an internal development pathway, he said.
“We have 18,000 people around the world whose job it is to search for new ideas; new products and new technologies to help address unmet patient needs and improve vision in all corners of the globe,” he said.
He noted Bausch + Lomb’s current double digit growth rate.
“I am excited about the progress we have made but not satisfied. This is only the start. We are committed, and I am committed to continue growing Bausch + Lomb to meet patient needs and helping the practices of eye health physicians.” - by Joan-Marie Stiglich, ELS