Montreal-based Valeant Canada Limited, ranked by IMS Health Canada as one of the 10 fastest growing pharma companies in the last three years, enjoyed growth in 2008 and continues to see expansion even in a recessionary economy.

General Manager and Vice President Thomas Schlader notes the company had a tradition of a conservative approach to doing business and spending dollars until 2002, a tradition characterized by cost control and little risk. A change in management at the upper echelons resulted in major restructuring and a new business approach in 2003.

“We loosened the purse strings,” says Schlader. “We started to work with more external resources. We spent money on team-building and marketing.”

A different business style also brought a new emphasis on research and innovation. “The majority of our growth has been driven by Cesamet®, which is a cannabinoid indicated as an antiemetic that gained a lot of interest from the medical community. Valeant Canada also supported different research programs with this drug.”

In addition to effective promotion, Valeant Canada established strong collaborations with scientific organizations.

With a team environment now solidly in place at Valeant Canada, the company is focused on specialty pharmaceuticals in areas such as pain, neurology and psychiatry, and dermatology. In 2008, the company acquired two companies, both of which have pipeline products in late stage development in dermatology.

Valeant Canada’s goal is not to be a broad-based firm, but to explore the potential for unmet needs in specific therapeutic fields, notes Schlader.

“We are looking at areas where we would be marketing to specialists,” says Schlader. “We are looking at developing niche markets.”