Barry Fishman, President & CEO of Merus Labs (MSL:TSX) explains how this specialty pharmaceutical company has products in 34 countries.
We are a Canadian based European focused specialty pharmaceutical company. Our focus is to acquire and optimize, established and growth products mainly for the European market. Overall, we sell our products in 34 different countries.
Our 12 products are focused in cardio-vascular, women’s health and urology. 18 months ago, we were a company that was selling three products and we had about $13,000,000 in EBITDA and then 18 months later we have 12 products and have a run rate of EBITDA that is in excess of $50,000,000 a year.
We have a great team that manage our current 12 products with the 34 countries and we do that all with 12 full time employees and you may ask, you know how does that all happen? Well, we use a contract sales force in areas where we promote products our 12 people focus on finance, business development and commercial optimization and then contract out everything else.
Hopefully in the next couple of years we’ll grow at rates that are significantly highly that the market and we’re looking towards the $120,000,000 strategic target that we set for 2019 for EBITDA.