Science of Success: Talecris Biotherapeutics’ Lawrence D. Stern Named Ernst & Young Entrepreneur Of The Year® 2010 Winner in the Health Sciences Category
Palm Springs, 14 November 2010 – Lawrence D. Stern, Chairman, CEO, Talecris Biotherapeutics was named the Ernst & Young Entrepreneur Of The Year® 2010 national winner in the Health Sciences category. Now in its 24th year, Ernst & Young’s Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The award encourages entrepreneurial activity and recognizes leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.
Stern was recognized for growing Talecris into one of the leading plasma therapeutics companies in the world. Stern was honored at the Entrepreneur Of The Year® gala, the culminating event of the Ernst & Young Strategic Growth Forum in Palm Springs. The Forum is the nation’s premiere gathering of high-growth, market-leading companies. Awards were given in nine additional categories. All Ernst & Young Entrepreneur Of The Year® winners were selected by an independent panel of judges from approximately 300 regional award recipients.
Bryan Pearce, Americas Director, Entrepreneur Of The Year, Ernst & Young LLP, said, “The Health Sciences industry is inherently risky; speed and accuracy determine a company’s success or failure. Lawrence has carved out a leadership role for Talecris Biotheraputics by following a number of critical entrepreneurial strategies: determining the company’s capacity and appetite for risk, making substantial investments in research and development, and constantly increasing the speed of the company’s product to market. This makes Lawrence D. Stern the Ernst & Young Entrepreneur Of The Year® 2010 national winner in the Health Sciences category.”
Seizing an opportunity
For the first 15 years of his career, Stern worked as a chemical engineer for Arco Chemical in various R&D roles, developing the necessary base of skills and knowledge that would later make him an entrepreneur success story. After moving up the ranks, Stern continued working for the company until it was acquired by Lyondell. When Lyondell was bought by Bayer in 2000, Stern helped transition one of its business units into a fully integrated operating division of Bayer.
Three years after joining Bayer, the company announced that the business was going to be among the assets spun off in a major corporate divestiture. Recognizing a unique opportunity, Stern jumped at the chance to run the new standalone company. Stern realized that the plasma therapeutics business was very different than a pharmaceutical company, and that it could be run more like a specialty chemical business with its own supply chain, distribution and operations.
Two years later, Stern launched Talecris. In just five years, the company has grown dramatically and now revenues of $1.4 billion and more than 5,000 employees.
Fueling the business’s growth
One of Stern’s first moves as CEO of Talecris was to invest more than $500 million to fuel the business’s growth. A thorough review of Talecris also made him realize that the company needed to resolve some business issues, particularly around the company’s plasma donation platform.
Talecris’ plasma supply had traditionally come from third-party providers or competitors that weren’t always secure or reliable. Talecris decided to buy their own plasma centers, build them up and establish stronger ties to the community. Talecris now owns 69 blood plasma centers, nearly all FDA-licensed, that collect and process plasma for use in manufacturing the products sold and developed by Talecris.
Delivering results for investors and employees
Talecris launched an IPO in 2009, raising some $1.1 billion, one of the largest IPOs in the biotechnology arena since 2002. Talecris is now about to merge with Grifols, a Spanish health care company, which will enable the combined company to continue its research into improving plasma-based products for patients with rare neurologic diseases.
Stern believes in building a viable business that delivers strong results for investors and employees while also providing long-term benefits for patients in need. To that end, Talecris holds an Annual Patient Day in which more than 50 patients tell stories about how they’ve benefited from Talecris’ therapies. The company holds similar events at plasma centers around the nation to help employees realize how much of a difference they make in the lives of customers.
Entrepreneur Of The Year® 2010 National Finalists in the Health Sciences category
In addition to Stern, The Ernst & Young Entrepreneur Of The Year® national finalists in the Health Sciences category are: Maura Bluestone, President, CEO of Bronx, N.Y.-based Affinity Health Plan, an independent, not-for-profit serving the needs of low-income residents in the New York area; Scott Huennekens, President, CEO of Volcano Corporation of San Diego, a company that designs, develops, manufactures and commercializes products that enhance the diagnosis and treatment of vascular and structural heart disease; and Lisa G. Shaffer, Ph.D, President of Spokane, Wash.-based Signature Genomic Laboratories LLC, a company that is dedicated to the clinical use of genomic information and pioneering new, revolutionary diagnostic tools to improve human health and well being.
Overall Entrepreneur Of The Year® 2010 National Winner
Howard W. Lutnick, Chairman and CEO of BGC Partners, Inc. (NASDAQ: BGCP), was named the Overall Ernst & Young Entrepreneur Of The Year® 2010 national winner.
Video and Photos
To view video clips of all the Entrepreneur Of The Year® winners, please visit the Ernst & Young YouTube Channel. Photos of the winners are also available by request.
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year® awards are pleased to have the Ewing Marion Kauffman Foundation and SAP America as national sponsors.
About Ernst & Young’s Entrepreneur Of The Year®
Ernst & Young’s Entrepreneur Of The Year® is the world’s most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, Ernst & Young Entrepreneur Of The Year® celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
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