BioVectra is a contract development manufacturer for pharmaceutical and biotech companies with full-service outsourcing solutions for intermediates and active pharmaceutical ingredients. The company has three cGMP facilities in Charlottetown, PEI and one in Windsor, Nova Scotia.
Oliver Technow talked about a business environment of constant change, such as renegotiated NAFTA, CETA, and TPP trade agreements. “With constant change, there are also new opportunities for growth and advancement for businesses and individuals.”
Oliver Technow’s advice to other businesses in this time of change
- Focus on your vision and consider the things you need to do differently in order to succeed.
- Surround yourself with the right people and the best talent. “At BioVectra, our 300+ employees are the heart and soul of the organization. Many have been with us 10 to 27 years. We benefit so much from employees who live and breathe innovation and knowledge. We keep them engaged, develop them, and let them grow. It is critical to create an environment where employees can thrive, develop, and perform.“Our employees matter more than anything else. They are relentless problem solvers who take tremendous pride in finding solutions to any issue presented by our clients. There is a huge sense of pride in this organization. You can’t buy that kind of dedication.”
- Be courageous. If you hesitate in times of change, you will be left behind.
- Be determined. Identify the things that do not work in your favour and turn them into strengths. “For example, PEI is not the most logical geography to succeed on a global scale. It is easier to do business in Boston, New York or Toronto, but I don’t think there is a better place than PEI to capitalize on the tremendous human aspect of your business.“On a weekly basis, we bring CEOs and heads of manufacturing, supply chain, and research and development from big pharmaceutical companies to the Island to tour our facilities. We demonstrate to them that we are in a good location to conduct business in a professional and effective way.”
- No complacency. If you are good at something, don’t get too comfortable, because someone else is trying to be better. Always strive to be the best. Instead of complaining about the way things are, ask yourself what you can do to change things.
BioVectra is in stiff competition with India and China, whose production costs are much lower. “Buyers can go to China or India to get cheaper pharmaceutical active ingredients, but they get a first-class experience with us, and they get better access to a team that is highly dedicated to their needs and solves every problem they have. This is where our competitiveness comes from.
“BioVectra could have located in the US or China or India. But Atlantic Canada is a tremendous place to do business. A company from PEI can succeed because we have a very business-friendly environment. I have lived and worked in many jurisdictions, and I have not seen a more dedicated effort.
“The government develops the business environment on the Island so that companies can succeed. We also receive tremendous support from provincial and national industry associations such as the PEI BioAlliance, BioNova, and BIOTECanda, which all help to accelerate the advancement of life sciences.
“As well, the PEI BioAlliance, which consists of 50+ companies, contributes to the fact that PEI is leading Atlantic Canada in growth and economic outlook.
“In the last year, we invested $25 million in a new facility in Windsor, Nova Scotia. It means the world to us to give young people an opportunity to grow in Atlantic Canada.
“The Nova Scotia location also offers us access to a different, larger labour market, so that we can make sure to get the right talent to drive our future growth. We are maintaining our investment in Charlottetown, and we are expanding our facilities here.”
For more information about BioVectra, visit www.biovectra.com or follow on Twitter @BioVectra and LinkedIn at /company/biovectra-inc-.