CDMOs are a key link in the pharmaceutical supply chain, but most do not meet the expectations of their pharma customers. TriRx is building an integrated CDMO designed to fill the gap and be a reliable source of supply well into the future.
Bridging the Outsourcing Gap
CDMOs have become critical partners in the pharmaceutical industry. However, most contract service providers do not have the reliability or flexibility that pharma customers need.
TriRx was founded as a CDMO with the knowledge, capability, resources, and long-term commitment to provide security of supply with consistent on-time, in-full delivery in compliance with regulatory requirements and quality expectations at a fair cost. Our leadership team has experience on both sides of the outsourcing relationship, making it possible to bridge the gap and form highly functioning partnerships that ensure success and avoid supply chain disruptions.
Strong Starting Point
To be successful, a CDMO must begin with a world-class facility with state-of-the-art capabilities staffed by experts who understand the importance of consistently achieving continuous regulatory compliance and meeting all delivery milestones. The TriRx (formerly Endo/Par) Huntsville, Alabama cream and ointment (a fast-growing segment of the pharma industry) site meets these criteria. While purchasing a facility that had been shut down was a risk, with trust in the facility leadership, respect for the facility and its employees, extensive knowledge of the marketplace, and relationships with potential customers, the risk was deemed manageable, and TriRx was born. The decision was clearly the right one. Within one year, the company has gone from zero to 200 employees, with expected annual revenues of about $100 million.
Sterile Injectables Acquisition Underway
TriRx is in the process of acquiring a state-of-the-art Merck sterile manufacturing facility in France that produces injectable products for the animal health market. The deal is expected to close near the end of August 2020 and brings with it opportunities for continued business with Merck. Animal health is another highly underserved segment of the pharma space with very few long-term suppliers possessing advanced capabilities.
TriRx was founded with these disruptive forces in mind and a recognition of the need for CDMOs that are prepared to operate in a changing marketplace.
Building an Integrated Solution
The goal for TriRx is to establish integrated capability to support customers from drug substance to drug product development and manufacturing across all dosage forms. We are, therefore, also seeking a biologics facility to support the fastest growing market segment — sterile facilities in both North America and Europe — to meet the dramatically heightened demand for injectables as COVID-19 therapies and vaccines reach the market, as well as solid dosage form capability, and a high-performing API facility.
While we have a defined strategy, we will take advantage of opportunitieswhen they arise. Growth will occur both through acquisitions and organically over the next 5–10 years, and TriRx will emerge as one of the clear winners in the CDMO marketplace.
Long-Term Commitment Backed by Effective Systems and Processes
Systems and processes derived from previous experience enable us to be efficient and provide our services at a fair price while still making a profit. They are critical to overcoming the challenge of delivering more output per unit and are thus incredibly important to our long-term success.
Prepared for Marketplace Disruptions
Disruptions to the marketplace that were underway before the emergence of the COVID-19 pandemic have only been accelerated and will cause real change in the pharmaceutical industry. Home delivery and 3D printing of medicines have the potential to revolutionize the pharma supply chain.
While public perception has been shifted slightly in a positive direction due to the pandemic, only a brief window of opportunity exists to reaffirm the value created by pharmaceuticals in both the prevention and treatment of diseases. Cost pressures will never cease. The industry must respond by increasing productivity and efficiency, which will require paradigm shifts in all aspects of drug development and manufacturing, including leveraging artificial intelligence.
TriRx was founded with these disruptive forces in mind and a recognition of the need for CDMOs that are prepared to operate in a changing marketplace. The pandemic has spurred demand in a wide range of over-the-counter and prescription medicines and other healthcare products that previously were not deemed important. How the industry responds to this increased demand will be critical for its long-term future – but one thing is for sure, TriRx is ready and committed to deliver.
Tim Tyson is currently Chairman and CEO of TriRx Pharmaceutical Services, LLC and Chairman at Icagen Inc. He also currently serves on the board of Tyme Technologies Inc. Mr. Tyson recently served as Chairman and CEO of Aptuit LLC. He was Chairman and CEO from 2008 to 2012 leading a restructuring, acquisition and successful sale of a major portion of the company prior to stepping out as CEO to serve and guide the company as Chairman up until 2016. His corporate career spans over 35 years in the pharmaceutical industry.