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Winning With Partnerships: How To Turn A Three-Decade-Old Biotech Profitable

 
• By David Wild

Since taking on the CEO role at Theratechnologies in 2020, Paul Lévesque has made it his priority to beef up the company’s commercial portfolio and look for partnerships on potentially high-value programs. Now, the Canadian biotech is turning a profit for the first time in many years.

• Source: Shutterstock

Montreal-headquartered Theratechnologies will be turning a profit for the first time in a long while this year. The projected $17-19m in adjusted earnings in 2024 may be far from astronomical, but it is an indication that a new tack taken by the company’s CEO Paul Lévesque is proving successful.

Key Takeaways
  • For the first time in years, Theratechnologies is set to turn a profit by focusing on boosting sales and forming strategic partnerships, moving away from heavy R&D investments.
  • The company is enhancing sales of its HIV treatments and pursuing growth in oncology through partnerships, leveraging its SORT1+ platform to expand beyond HIV

Theratechnologies employs over 100 people in Canada and the United States and has two marketed medicines for HIV and an “HIV-adjacent indication,” as well as with

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