In your opinion, Jean-Frédéric Chibret, is the family business better suited to the new times?
Jean-Frédéric Chibret: At Théa, long-term vision has always taken precedence over short-term profits. We are committed to the long term, and we are constantly looking to the future, because confidence in the future is essential, and because we need to give meaning to our actions. Our profits are reinvested first and foremost in R&D and development in new territories. And while our organization enables us to take a long-term view, it also gives us the responsiveness that every company needs. Reactivity to seize opportunities or react to “the unexpected”. I would add that having a stable shareholder base and management team is an important factor, reassuring both our employees and our partners. It contributes to their commitment to us. Last but not least, I'd like to mention our entrepreneurial and family spirit, which definitely sets us apart from traditional financial capitalism, or capitalism with dispersed shareholdings, which is reaching its limits. So it's hardly surprising that family capitalism is currently inspiring renewal and a quest for meaning. Employees, partners, the scientific and medical community: our approach is inclusive of all stakeholders.
Let me give you two concrete examples: We are present in all therapeutic classes, which runs counter to the logic of some pharmaceutical companies that rely solely on a blockbuster in one field and neglect almost all other pathologies. And while innovation plays an essential role for us, we also make sure that certain service products, certain essential products, remain available to ophthalmologists and patients. We forget to mention it, but every year, highly effective products disappear from pharmacies and from practitioners' arsenals, because the production costs are not profitable for manufacturers. Second example: education. Throughout the year, Théa guides young practitioners towards success, while meeting the aspirations of experienced practitioners. In a world where scientific progress is changing the scope of what is possible every day, Théa is at the service of ophthalmologists, from interns to experienced practitioners who aspire to regular training to maintain the quality of their practices. In 25 years - or rather, 150 years! - we have built up a very close relationship with the ophthalmology community worldwide. I have the weakness to believe that they see us as partners. Partners who were there yesterday, and who will be there tomorrow.
Do these strengths of the family business also apply to innovation?
Jean-Frédéric Chibret: Exactly, for the same reasons. And we've never stopped proving it. Let me remind you that 25 years ago, Henri introduced us to the market as the pioneers and world leaders in preservative-free ophthalmic treatments. Every year since then, we have offered therapeutic innovations to ophthalmologists and patients alike: 25 innovations in 25 years. We have innovated in numerous therapeutic classes, and helped open up new markets and concepts with “preservative-free”, eyelid hygiene, ocular nutrition, antibiotic therapy and intracameral mydriasis. And Théa will continue to innovate in ophthalmology. The recent launch of our Théa Open Innovation company illustrates our determination to be ever more open to other players, other resources, other talents and other ideas. More than ever, we're on the lookout for disruptive innovations. The company has a team of a dozen employees who are responsible for diversifying our projects, through partnerships with universities and other companies, including startups. The key to success lies resolutely in the multiplication of innovation approaches. The future lies in excellence and new ideas.