Jeffrey Aronin noticed that an increasing number of drugs desperately needed by smaller populations of severely ill patients were abandoned or shelved, because it was not efficient for the bigger drug companies to support them. So in 2000, Aronin founded Ovation Pharmaceuticals Inc. to acquire, develop, manufacture and market under-promoted pharmaceutical products for the treatment of severe illnesses.
In just over five years, Ovation has grown into a pharmaceutical company with a portfolio of 22 drugs. Aronin has relied on two strategies to drive Ovation’s success.
- Focus on serving severely ill patient populations. Ovation’s portfolio of 17 FDA-approved drugs and pipeline of five developing drugs are concentrated in the therapeutic areas of central nervous system disorders, hematology/oncology and hospital therapeutics. Ovation increased the annual sales of every drug it has acquired by at least 40 percent. The company is committed to investing in research and development that will improve the lives of those in need of its products. Ovation expects FDA approval on two new drugs this year.
- Partner with the best. Aronin realized he would need help and he has chosen the best possible partners in all facets of the business. He built a management team of some of the best talent in the industry and that management team is still intact today. His first financial partners consisted of many of the top industry executives and many of those individuals currently serve on the company’s advisory board.
How to reach: Ovation Pharmaceuticals, www.ovationpharma.com