Management experts believe successful emerging companies share certain traits. A key characteristic is that the company's head is a great salesman of the firm's vision as well as its products. Older companies, on the other hand, are plagued by a kind of "we've never done it that way" attitude.
The most important of these traits is the ability to innovate and, perhaps, depart from the original plan, according to the authors of the 2001 business book, "Creative Destruction." They maintain that this ability enables the younger companies to outperform the older companies.
As part of the story, C&EN profiled seven companies that are either new or have changed course in innovative ways to become competitive with other established firms.
The company was founded on a unique strategy to raise shareholder value through the acquisition and commercialization of products it marketed. InterMune has acquired licenses for products that were not good fits at large drug firms or biotech companies and has been using the revenues from these products to build its operations and conduct R&D for new products. Actimmune® is an example of such a product.
In addition to moving into new product territory, Ozark is still the only U.S. maker of the three major dental fluorides.
The firm is planning to shift its focus to China and emphasize active pharmaceutical ingredients (APIs) for generic drugs. Asychem has grown with no debt and has been able to amass $10 million for its move to APIs, using bank loans and private and government investment.
Cyclics has amassed tens of millions in financing for the product and plans to open a $20 million plant in Germany in 2004.
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