We show our partners that they can trust us to use all our means possible to achieve the goals that we have agreed on
What values would you consider essential for a successful partnership?
Mutual respect is extremely important. We respect one another, so we get to know each other better. Another value that matters to us is transparency. This means being open about all the things that are going well, but also communicating about potential difficulties or demands that we are not in a position to fulfill. By being open about it, we will find a solution much more quickly. Lastly, confidence and trust are also essential to our relationships. We show our partners that they can trust us to use all our means possible to achieve the goals that we have agreed on. When all these values are present, we can build so much together.
How would you describe your ideal partners in the pharmaceutical manufacturing segment?
Well, primarily, we partner with those who wish to share a story with bioMérieux, who are ready to invest in and develop for the future. These typically have been organizations with whom we can collaborate in a spirit of openness and transparency by sharing resources and information and building long-lasting relationships together.
In our case, our partners are frequently major pharmaceutical groups with whom we fit in terms of business and strategy. This includes some of the largest pharmaceutical companies in the world.
We’re building up our relationships with our partners because we take a long-term approach. That means being an ally by identifying our common ultimate objectives and working together to achieve them. In the end, by co-creating value together with our partners, we also create value for ourselves in the long run.
How do you approach creating successful and valuable partnerships?
It begins by establishing our common goals. That means understanding the deep corporate needs of each of our customers, — not just in terms of what we can provide them today — as it is important to build a long-term strategy, one that we can continue to strengthen over the years. Time is an essential ingredient to achieve this. Trust grows greater with time; just as common goals grow stronger.
How do you continue to grow partnerships over time?
To give our partners maximum support, our managers know their customers’ businesses inside and out, every bit as well as the customers do. Our managers are ready to help and be involved at every stage, as they have in-depth knowledge about the industry in general, as well as the strategy of the company. They know the key decision-makers and the decision-making process itself. With this level of understanding of our customers, we show that we have a true commitment to their business and its success.
What are the advantages of these close collaborations for bioMérieux?
First of all, we get to be inside and central to our customers’ businesses. We’re not just developing our own ideas. This matters because even though an idea may be great, supported by great technology, it won’t matter if there is no market for it. We invest heavily in Research and Development, so we must make sure that these investments are effective. We have regular meetings with our partners to share what we have been developing and to review data to help us pinpoint innovative solutions that could have market traction. Of course, an additional advantage is that in this competitive environment, we have a proven ability to find solutions, so other businesses will contact us first when they have a need.
The advantages can also be quantified in a practical manner. It’s expected that the strategic account management of such partnerships can generate revenues twice as high as other businesses. In our case, we’re already seeing very strong results that prove the strategy is a successful one.
Overall, by working very closely with our customers, we are able to find the right way forward. This is particularly true when the future trends of the pharmaceutical industry are established by a very small number of organizations — we are involved with a lot of them. They’re telling us exactly what they need, and when they foresee their needs for the future, we’re right there alongside them.
