NASHVILLE, Tennessee – LGM Pharma, a leading supplier of active pharmaceutical ingredients (APIs) to various global pharmaceutical firms, Headquartered in Nashville, Tennessee with administrative offices in Boca Raton, Florida, has announced that Davied Miller, MBA, has been hired as Director of Sales, OTC Division.
Mr. Miller will be responsible for implementing and conducting sales strategies and improving customer relationships with Pharmaceutical contract and private label manufacturing companies who use these APIs in their over-the-counter (OTC) finished dosage forms.
He was formerly a Cardiovascular Care Specialist at Quintiles Pharmaceuticals/Abbvie and prior to that he was Senior Sales Consultant with Novartis Pharmaceuticals. He is a graduate of the DeVry University’s Keller Graduate School of Management in Florida.
According to Mendy Schurder, COO at LGM Pharma, “With his sales experience in the Pharma market, Davied will support and oversee this product line and will continue to promote LGM Pharma’s strong presence in the supply of active pharmaceutical ingredients in the over-the-counter market.”
The active pharmaceutical ingredient forms the most vital part of every formulated end product, and is an important part of the whole pharmaceutical industry. The overall API market was valued at $101.08 billion in 2010, and is expected to grow at a compound annual growth rate of 7.9% from 2011 to 2016.
“Now is an excellent time for Davied to be joining LGM Pharma,” states Mr. Schurder. “Our growth plans are exciting, our products best-in-class, we have a highly skilled workforce, and our customer base is envied across the world. With existing clients, we have the perfect base from which to increase our presence in the region and provide even better services.”
The API market is facing a period of unprecedented growth as market dynamics have undergone a major change with the expiration of patents pertaining to global blockbuster drugs in the U.S. The consequences of the economic crisis has hit the Innovative drugs market hard, with less budgets allocated by the major players for the R&D of Innovative drugs. This has led to drying up of pipelines for new drugs, and therefore the market for generic drugs is quickly growing. Thus, the patent expiry factor is slated to drive the API market for the coming years.
About LGM Pharma
LGM Pharma is a leading supplier of active pharmaceutical ingredients (APIs) to Contract manufacturers and various global pharmaceutical firms involved in the research and development of old and new therapeutic chemical entities. In its commitment to improving health opportunities all over the world, the company has forged partnerships with some of the biggest names in the pharmaceutical industry. Currently, the company supplies over 2,500 active pharmaceutical ingredients to its global clients.