Established in 2011, SLIM Pharmaceuticals has emerged as a trusted name in Sri Lanka’s pharmaceutical sector, ranking among the top suppliers in the country. The organization is dedicated to providing top-tier quality products across a range of offerings, including Innovator Medicines, Biologics, Biosimilars, Generic and Branded Pharmaceuticals, Nutraceuticals, Surgical and Medical Instruments, Diagnostics and Cosmeceuticals. Fuelled by a passion for innovation, Director-Marketing Riza Cassim discusses the company’s vision for the future and how the organization aims to set new benchmarks for quality and trust in the industry.
Can you guide us through the milestones of your career, sharing pivotal moments and the lessons they brought?
In 1994, I embarked on my professional journey as a trainee medical delegate at Deep South Interiors. Within a few years, I rose to the position of Senior Medical Delegate and relocated to Colombo. Transitioning to a multinational company in 1996 broadened my horizons, leading me into the realms of product and brand management.
As I progressed up the career ladder, I earned the respect of stakeholders and made a lasting impact in the industry. By 2010, I found myself in higher management, holding significant roles in leading multinational companies. Throughout this journey, I underwent training in both management and leadership skills.
The key to my success lies in a combination of dedication and industry knowledge, a commitment to self-growth even in the corporate arena. Serving in this lucrative field brings me great satisfaction, contributing to providing our nation with quality drugs at affordable prices.
What attracted you to SLIM Pharmaceuticals, and what is your vision for the company?
All at SLIM Pharma work as a big family and I was amazed to notice how they looked after staff even during difficult times, I feel it’s admirable and an example for all top corporates.
Also, the opportunities created for the staff to develop themselves are one of the key factors that are practised at SLIM Pharma, this allows us to develop top-class homegrown managers.
As an industry professional, I have always kept an eye on competitor companies. Over the years I have noticed how SLIM Pharma has grown its portfolio with multinationals and leading pharmaceuticals and bio-similar manufacturers and SLIM Pharma’s growth in the local market. What caught my attention was the innovative thinking behind the company.
Further, I was aware of the personal growth-conducive culture promoted by SLIM Pharma and the support extended by senior management to staff at all levels to perform at their best.
After engaging with the management, I understood that with the upcoming products, SLIM Pharma was concentrating on the private market for further growth opportunities. An area where I can offer my services and expertise. These were the critical factors that drew me to join this esteemed organization.
What does it take to succeed in this industry, and how do you balance the conflicting needs of stakeholders?
Success in this industry hinges on identifying the unmet needs of healthcare professionals and patients, as well as understanding the nuances of the diseases we aim to address. In a developing country, obtaining newer molecules can be challenging. Therefore, we prioritise alternative medications that offer optimal treatment and affordability.
To manage stakeholder expectations, we focus on gaining specific market insights, collaborating with the Ministry of Health, MSD, SPC and NMRA to anticipate future disease burdens and procuring drugs accordingly to meet the need.
One of our key challenges involves identifying and educating healthcare professionals during challenging times. As a responsible organization, we bridge the knowledge gap by continuing to educate our target audience, ensuring optimal patient treatment.
Can you share the story of SLIM Pharmaceuticals and how it reached its current position? What sets you apart from competitors, and what are your primary areas of focus?
SLIM Pharmaceuticals at inception with just five employees was initially in the tender business, representing a solitary Indian agency. Today, we proudly stand as one of Sri Lanka’s fastest-growing pharmaceutical companies with a staff of over 100.
Our distinguishing factor lies not just in our growth but in our steadfast commitment to ethical practices, a trait that not only gained us recognition but also attracted top talents and fostered meaningful partnerships. Partnering with global giants such as Roche, Baxter, Recordati, Otsuka, Kedrion, and also the highest accredited reputed agencies like Shilpa, Guffic, Techdow, Billim, Pavia, Shandong etc.,. SLIM Pharmaceuticals plays a pivotal role in bringing a diverse range of life-saving medications to Sri Lanka. SLIM Pharma has introduced many reputed suppliers to the Sri Lankan market having the highest accreditations such as US FDA, EU GMP, TGA, UKMHRA, PIC’s GMP etc.
Notable among recent medicine product launches are groundbreaking drugs like Emicizumab a significant advancement in the treatment of hemophilia A.
Additionally, we take pride in being the first to launch Adalimumab biosimilar in Sri Lanka, even before the innovator brand. It is primarily used in the treatment of autoimmune diseases, particularly inflammatory conditions such as rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, plaque psoriasis, juvenile idiopathic arthritis, and inflammatory bowel diseases like Crohn’s disease and ulcerative colitis.
Other key offerings include biosimilar Enoxaparin which we were the first to launch enoxaparin biosimilar approved by European Medicinal Agencies (EMA). Enoxaparin is a type of anticoagulant or blood thinner. It is derived from heparin, a natural anticoagulant. commonly used for the prevention and treatment of deep vein thrombosis (DVT), and pulmonary embolism (PE), and to prevent blood clots in certain medical conditions such as during surgery or in patients with specific cardiac conditions.
We were the first to launch Azacitidine in Sri Lanka even before the innovator brand which is an ANDA approved by USFDA. Azacitidine is primarily used in the treatment of myelodysplastic syndromes (MDS), a group of disorders characterized by dysfunctional blood cell production in the bone marrow. It is also used in the treatment of acute myeloid leukaemia (AML) in certain situations.
We at SLIM Pharma explore untapped markets and unmet needs and seek the possibility of launching new chemical entities (NCEs) and new dosage forms (NDFs) to the Sri Lankan market. As a responsible corporate, we will be focusing more on non-communicable diseases (NCDs) cardiovascular disease, cancer, Chronic respiratory disease, and diabetes.
The journey of SLIM Pharmaceuticals mirrors a steadfast dedication to innovation, an unwavering commitment to quality, and a focused approach to meeting the healthcare needs of the Sri Lankan people. With a vision of providing affordable quality medication to the general public from reputed accredited suppliers, our company embodies a spirit of thriving on challenges, embracing innovation, and envisioning a future where we continue to positively shape the healthcare landscape. Our narrative is one of resilience, progress, and an ongoing pursuit of excellence in the healthcare landscape.
What challenges is the industry facing, and how is SLIM Pharmaceuticals addressing them?
Against the backdrop of the global pandemic and economic meltdown impacting the pharmaceutical landscape as well, the industry experienced a significant price increase in pharmaceutical and medical devices. This economic shift resulted in a notable decrease in overall medication usage, prompting patients to seek more economical alternatives or, in some cases, forego necessary medications.
As all are aware one of the challenges the industry is facing is with substandard drugs that have been imported to Sri Lanka in the recent past.
During this challenging period, healthcare professionals were in search of quality medications at affordable prices. This is precisely where SLIM Pharma stepped in, offering patient-centred quality medication at affordable prices from stringent authorities-approved facilities to meet the pressing needs of the healthcare community.
With the global pandemic and financial crisis faced by Sri Lanka, it has been a challenge to reserve medicine allocations from top suppliers and to work with local banks to support imports. Given the limitations experienced by banks, we continue to experience high costs and restrictions to support our imports. However, SLIM Pharma’s strong relationship with suppliers and prudent management of internal resources has helped us continuously supply essential medications to the government and private sector without any disruption.
Pharma is a strictly regulated industry and the government from time to time introduces price controls and other restrictions, in such an environment SLIM Pharma closely works with the global pharma industry to identify & explore untapped markets and unmet needs to bring down quality medication at affordable prices.
SLIM Pharma understands the importance of having a full range of medicines available in the hospital network. Currently, small-volume items are marketed at high prices. However, SLIM Pharma is working on timely registration of these items with regulators and introducing them at competitive pricing, which will help to ease the government’s healthcare burden.
The Sri Lankan Pharmaceutical industry has a similar operating model to UK Medico practices, where the operating cost is high. It is a challenge to maintain these standards and facilities in a developing market when in an economic crisis. We continue to invest in our staff and operations to maintain high standards and value to ensure product integrity is assured.
What marketing initiatives does SLIM Pharmaceuticals undertake to enhance knowledge and bridge the gap between doctors and medical delegates?
In the face of travel restrictions imposed by the COVID-19 pandemic, SLIM Pharmaceuticals remains unwavering in its commitment to knowledge dissemination through diverse initiatives. Despite the challenges, we’ve embraced innovative approaches to ensure that the healthcare community stays informed and empowered.
Our commitment to education is evident through a multifaceted approach, including roundtable discussions, GP chemist conclaves, key opinion leader (KOL) GP conclaves, and specialized training sessions tailored for nurses and paramedics. These platforms serve as dynamic forums for the exchange of insights, best practices, and the latest advancements in the pharmaceutical landscape.
One of our flagship programmes, the Chemist Day, stands out as a testament to our dedication to excellence in pharmacy practices. This initiative goes beyond traditional educational avenues, offering practical demonstrations on drug and device usage. By equipping chemists with hands-on experience, we empower them to practice good pharmacy practices, ensuring a higher standard of care for the communities they serve.
Moreover, SLIM Pharmaceuticals takes pride in its role as a catalyst for knowledge-sharing between international experts and local healthcare professionals. Through collaborations with recognized colleges in Sri Lanka, we facilitate engaging sessions that bring together top international KOLs and their Sri Lankan counterparts. These interactions create a rich tapestry of insights, fostering a global perspective on healthcare practices and promoting continuous learning within the local healthcare community.
In the realm of patient-centricity and accessibility to global innovative medications, SLIM Pharma plays a pivotal role. Recognizing the high cost associated with cancer treatment, for example, we introduced lucrative patient assistance programmes. Through these initiatives, we offer free goods to patients upon purchasing a complete cycle of medications, making the full course of treatment more affordable.
With SLIM Pharma Cancer Care, our commitment extends beyond providing medications. We actively engage in continuous education for all stakeholders, ensuring optimal care for patients and bridging knowledge gaps within the healthcare community. Through our market-shaping activities, we support the Ministry of Health in identifying patient pools, facilitating more precise drug procurement and contributing to improving healthcare services in Sri Lanka. At SLIM Pharmaceuticals, our mission is to not only provide medications but also to play a vital role in shaping a healthier and more accessible future for all.
Where does SLIM Pharmaceuticals envision itself in the next 5 to 10 years, and is the company considering diversifying its business and entering different therapeutic areas?
At SLIM Pharmaceuticals, we are committed to continuous improvement in our processes and systems, striving for excellence in our operations. As an ISO-certified company adhering to ISO 9001:2015 Standards, we’ve garnered recognition from independent chambers and peers. Notable accolades include the Platinum Award from Business World International in Biotechnology & Pharmaceuticals for 2020 and a Merit Award in the small business category at the National Business Excellence Awards 2023 organized by the National Chamber of Commerce of Sri Lanka. We proudly maintain a long-standing active membership with SLCPI.
As an equal-opportunity employer, our diverse team of over 100 members, many of whom have been with the SLIM family for years, reflects our commitment to fostering a great workplace. SLIM Pharmaceuticals has received the “Great Place to Work” award for three consecutive years, underscoring our positive work culture and high employee satisfaction.
When it comes to diversifying our business at SLIM Pharmaceuticals, our strategy is rooted in a thorough understanding of the prevalent disease burden in Sri Lanka. We focus our attention on key health concerns, notably noncommunicable diseases, anaesthesia and haemophilia recognizing their significant impact on the community.
Our approach involves a comprehensive analysis of the current disease landscape, taking into account various factors that might influence the community in the next 5-10 years. We delve deep into understanding the socio-economic, environmental, and lifestyle factors that contribute to the prevalence of these conditions. This proactive strategy enables us to project the percentage of individuals affected by these diseases by 2030 and determine the overall number of affected individuals.
The insights derived from this meticulous analysis form the cornerstone of our product selection. We are committed to aligning our offerings with the anticipated healthcare needs of Sri Lanka in the coming years. By staying ahead of the curve, we ensure that our pharmaceutical portfolio is not only responsive but anticipatory, addressing the evolving health concerns of the population.
Beyond strategic planning, our commitment extends to providing patient-centred medications at an affordable cost. We believe in making impactful healthcare solutions accessible to all, emphasizing our dedication to enhancing people’s lives for the better. This commitment underscores our role not just as a pharmaceutical provider but as a partner in fostering a healthier, more vibrant future for the people of Sri Lanka. Through a combination of foresight, strategic planning, and a deep commitment to accessible healthcare, we aim to make a lasting positive impact on the well-being of the communities we serve.
As an ethical pharmaceutical company, we always work within the framework and boundaries of compliance thus strictly following international Medico Marketing theories and NMRA guidelines. We are always aligned with our international partners’ objective of providing quality medical care at an affordable price. Our esteemed partners continuously invest in R&D and develop new molecules for rare and orphan diseases where medication for such diseases is a luxury.
How do you plan to apply your 30 years of pharmaceutical industry experience, strategic leadership, and specialization in key segments to contribute to SLIM Pharmaceuticals’ growth and excellence?
With a career spanning over three decades in the pharmaceutical industry, including key roles in multinational corporations, my journey has been shaped by a wealth of experience and insights that I am eager to bring to SLIM Pharmaceuticals. Specializing in critical segments such as cardiology, endocrinology, and gastroenterology, coupled with a proven track record, I am well-positioned to make meaningful contributions to SLIM’s objectives.
At the core of my strategic leadership approach is the commitment to excellence and innovation. As I step into my role at SLIM Pharmaceuticals, my primary focus revolves around spearheading the development of private markets. While SLIM Pharma has already established its presence in the tender market, my expertise lies in the expansion into the private sector. I am dedicated to positioning SLIM Pharmaceuticals as a leading emerging force in the Sri Lankan pharmaceutical industry, ensuring our footprint extends into new realms.
The prospect of contributing to the growth and innovation of SLIM Pharmaceuticals is genuinely exciting for me. The company’s commitment to a collaborative and dynamic environment aligns seamlessly with my professional ethos. I see this as a unique opportunity to blend my extensive experience and skill set with SLIM’s vision, creating a synergy that propels us to new heights of mutual growth and excellence.
I am very enthusiastic about the journey ahead and the prospect of working alongside a team that shares the same commitment to delivering excellence in the pharmaceutical industry. Together, I believe we can achieve new milestones and contribute significantly to shaping the future landscape of pharmaceuticals in Sri Lanka.