Product development is another area we have a leg up on the competition. We're not seeing a lot of new science in dermatology,
so "me-too" products seem to be the genesis of what dermatology companies are making available today. Sirius could bring those
same products to market, but is there value in that? We have several products now, of which three are nice success stories.
The other ones are doing well, but they always will be at the smaller end of the revenue ladder. To my way of thinking, it's
better to have one $10 million brand than ten $1 million brands. These strategic decisions are important to future success
at any company.
What philosophy do you use to guide those decisions?
Our platform is one of building value into all decisions we make. If it does not add value for our customers, our business,
or our private shareholders, then we move on. Continuously asking ourselves the question, "Does it add value?" makes us more
productive in the long run.
How do you instill value in managing the sales force?
Our sales force is our single largest investment and our single largest link to the level of success. They are our engines
of growth. My challenge is to worry less about counting calls and focus more on making each call count.
With 18 sales people, we can afford to do this at our stage of growth. They must differentiate their products and themselves
every day by making quality sales calls. I believe that our marketing efforts rival our larger competitors, but a marketing
message is only as good as the salesperson delivering it.
What's the mood like at Sirius?
Even today, we're not targeting survival like so many other companies—our target is growth. The world is our oyster right
now. These are exciting times because employees can take pride in building the next generation of the company. I get up every
morning looking forward to putting the next part of our "building value" plan into place. That thinking, that enthusiasm,
is part of what I hope to instill within our corporate culture.
Garry Barnes As president and CEO of Sirius Laboratories, Garry Barnes is responsible for establishing the overall strategic direction
for the company and meeting operational outcomes. Prior to joining Sirius, Barnes held positions of increasing management
responsibility at Fujisawa Healthcare, concluding in the role of vice president of sales for North America, a position he
held from 1998 to 2003. Under his management, Fujisawa launched several new drugs and achieved market-share domination in
three core markets. Before that, Barnes worked at Serono, where he established and served as director of the company's first
national trade and managed care accounts group. Barnes began his career in the industry in 1980, as a sales representative
for Johnson & Johnson's Ortho.
Rep ROI: With the launch of Nicomide (nicotinamide), Sirius Laboratories' sales reps produced more prescriptions per rep compared
to the product launches of direct competitors. For example, at the same time Sirius launched Nicomide in 2001, Bioglan US
launched Adoxa (doxycycline). However, by month 10, Bioglan was producing approximately 300 prescriptions (TRx) per month
per sales rep compared with the 1,000 scripts each rep was producing for Nicomide. Medicis, which launched Dynacin (minoccline)
in 1992, produced only 700 TRx per sales rep per month following its introduction.