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Omega Laboratories probably isn’t the most talked-about drug company in Québec. And for good reason. This thriving business, which has grown steadily for many years, has always relied on the quality of its products and customer service, rather than on advertising, to establish its reputation. This reserve is a reflection of François Angers, its president and CEO. Nevertheless, he agreed to meet with us and take centre stage as part of this first entrepreneur profile.
A few words about Omega Laboratories
Based in Montreal, Omega Laboratories manufactures a wide range of injectable and non-injectable solutions for the pharmaceutical industry, including anti-allergy products, phlebology-sclerosing solutions, antiseptic products and generic injectable medication. The Company has laboratories and sales offices in Montreal and Vancouver as well as sales offices in Toronto. It covers the entire Canadian market and is present in 30 countries.
Mr. Angers, how did you become head of Omega Laboratories?
In the 1970s, after studying economics and finance, I did some work for an investor who bought, turned around and sold companies. One of my mandates was to assess Omega Laboratories, both from a financial and management standpoint. The results of this analysis convinced me to invest in the company and to acquire a controlling interest in it. After a few years, I became the majority shareholder and assumed the role of CEO.
What are the main challenges you've faced over the years?
The company has found itself in difficult situations a few times, so I recruited new shareholders to end the deadlock. A few years ago, I partnered with Dr. Kamilia Mekhail, who runs the scientific side of the company as executive vice-president, scientific affairs. I’m in charge of business development. My biggest challenge has been to build a strong multidisciplinary team. I believe it’s vital to possess strengths in every aspect of corporate management. If there’s a weak link in the chain, the repercussions will be felt all the way along it.
How did you manage to carve out a niche in the pharmaceutical industry?
We have always relied on highly specialized niches requiring low-volume production. We continue to make progress by developing our own products, distributing those of foreign companies without a Canadian presence and making targeted acquisitions to complement our therapeutic areas.
We also invest all our profits in research and development to develop and market new products. Because we have fewer resources than large pharmaceuticals, we must find creative ways to conduct clinical studies, which are very expensive.
For example, a few years ago, we asked the Royal Victoria Hospital and Montreal Heart Institute to perform clinical trials of our injectable nitroglycerin in return for a five-year royalty if the product reached market.
What does the future holds for Omega Laboratories?
I am very proud of what Omega Laboratories has accomplished. We had about 20 employees when we started. Now we have four plants employing about 110 people. Over the next three or four years, we hope to double or even triple our sales.
We would also like to develop new overseas markets and become the distributor for certain products manufactured elsewhere. In addition, we have obtained two permits from the federal government: one for our new oncology plant, where we currently produce pilot batches, and another for our new quality control lab.
We also have a solid team and an external financial partner we can count on, namely the Caisse de dépôt et placement du Québec. For the past six years, it has given us the means to carry out our projects, such as the construction of our new oncology plant. The Caisse knows our industry well, a crucial asset since we must constantly develop new products, requiring many years between the research and marketing stages. All in all, our fundamentals are strong. I’m confident that the future will bring both growth and success.
On a more personal note, how have you managed to balance your business and family life?
Spending time with my family has always been crucial for me. When my three daughters were young, I came home at 5:00 PM to spend time with them. Then I worked a few hours once they were in bed. Later, I got them involved in the company. They have been working there during their summer vacations. Indeed, one of them has been preparing to take over from me for some time and should be able to succeed me in three or four years.
How do you do to get away from it all?
I must say I am very fortunate in that regard. As soon as I close my office door, I stop thinking about work. I find it very easy to turn it off. That said, to relax, I’ve played tennis for many years and I love golf. But above all, I’m passionate about wine. In addition to collecting it, I'm part of a wine tasting club. We meet regularly at my home. In fact, I'd say it's more than a passion; it’s a real addiction that I have no desire to cure!
In closing, are there any causes that are dear to your heart?
I am very concerned about cancer, which has affected several of my family members. I am also working with the Montreal General Hospital Foundation to create a Research Chair in sarcoma, a devastating yet little-known cancer. I am healthy and have been very fortunate, and I think it's my duty to contribute to research in this area.
