Everybody Hates Pharma

Welcome to the Pharma
Sales and Tech Podcast.

Join Artem, Stefan, Ruslan, and
Chris as we explore the latest

trends and developments in the
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edge innovations To practical tips

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will provide valuable insights to

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Tune in to stay informed, inspired, and
connected with the world of pharma sales.

Stefan Repin: Hello,
hello, dear listeners.

It's Stefan here again.

And with the sales pharma and tech
podcast sponsored by Platforce.

We have today a wonderful guest.

Her name is Nicky Nadem.

Okay.

I made that right.

That's awesome.

Nicky works for a small company
called AtrimusRx Pharma.

If I pronounce it correctly but
I'll let Nikki do her own intro.

Nikki, tell us more
about what you guys do.

Nicky Nadem: Hi, So
thank you for having me.

I work at a company called

Stefan Repin: AtrimusRX

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
and what we do is we and supply equivalent

to products which are on shortage
in Sweden recently, for example, FDA

approved products or MHRA approved
products which are not yet registered

and approved in the Swedish market and
the reason we do this is because Sweden

and Nordic countries in general have a
low population and not have that many

approved medicines in our countries.

Just to give you perspective, in Germany
I think we have around 115, 120,000

approved medicines while in Sweden we have
around 11, 000 registered pharmaceuticals.

What happens is that when something
goes on shortage, on temporary

shortage in Sweden, let's say due
to lack of API or production issues.

The physicians and the clinics
do not have any other equivalents

turn to, to treat the patients.

Or it could be that there's this new,
let's say, oncology product, it will take

several years before it gets EMA approved
or become locally registered in Sweden.

And there's a specific physician who knows
that could be the medicine for my patient

in Sweden, because this patient in Sweden
is not responding to existing approved

medicines and they want to try the latest,
absolute latest treatment on this patient.

So this is where Atomos comes in,
where, you know, we offer alternatives

and options to physicians and
to pharmacists, and hospitals.

And inform them of what is
available in different countries.

And they go through the details
and based on, you know, patient you

know details in, you know, existing
let's say disease they, they make a

decision of which option to go for.

So this is what AtrimusRX does, in short.

Yes,

Stefan Repin: So we usually
talk on our podcast about like

sales and marketing strategies.

But you mentioned an interesting case
where you guys had to go above and beyond

your expectations, your limitations.

It was related to some COVID
medicine that you had to ship

out from South Korea and Ukraine.

Can you tell me more about this case?

Nicky Nadem: Absolutely.

This is a case that we are
really, really proud of.

And this was a couple
of years ago, of course.

When COVID hit of course, a lot
of medicines went on shortage.

And a lot of countries and authorities in
Europe decided to impose an export ban on

essential medicines, which are needed to,
you know, cover their own market and, you

know, their own patients, which is normal.

And it's nothing out of ordinary.

But what happened was that Sweden faced
huge shortages and no other European

country was capable of helping us
with providing essential medicines.

One of these medicines was Propofol,
and it was used to put COVID patients

who were in need of, you know, being
in these respirating machines or

respirators, to put them into sleep.

And this medicine was nowhere to be found.

We tried everywhere.

We tried Europe.

We tried, U.S.

No, nobody could supply us.

What we had to do, or what we
ended up doing, was that we started

searching in different languages,
and one of them was actually Korean.

We started searching in Korean, and
because there's no global database which

shows, you know, all approved medicines,
and sometimes you have to do your own,

you know, research and use Google.

So we went back to basics.

We started searching.

And we ended up on this, you know,
Korean manufacturer's homepage.

We started calling them, we
told them about the situation.

And we did the same thing, we actually
got lucky with a Ukrainian company.

And they had enough to cover, you
know, their own local market and,

you know, treat their own patients.

And we had to...

Making agreements with them.

There were two new vendors
that we had never worked with.

They didn't know us either and it was
a lot of money that we were talking

about that they wanted us to prepay.

So we had to go to the banks and we
had to ask for credits and for loans

to be able to prepay these vendors.

And we just needed to take, you know,
lip of faith and trust each other.

We needed to talk to the hospitals and
pharmacies and physicians and see...

What is the exact volume
they're interested in?

And the volumes were gigantic.

We were talking about several and several
and several thousands of, you know, packs.

And, Some of these packs were available
for immediate shipment but, the rest of

them were supposed to be produced and
be batch released in the coming months.

And we had this really, really tight
schedule with the hospitals and

clinics in Sweden that we had agreed
on, and they expected us to deliver

this medicine On the minute, not
on the hour, on the agreed minute.

And we, we just had to
make sure that it happens.

It, I think it took huge, you know, it,
it took a lot of time and resources and,

you know, collaboration from the banks.

But also from, you know, the vendors,
the quality and the sales team,

from the physicians, hospitals and
clinics to, to put together this

supply and solve this logistic issue.

And one of the main challenges
with that, except filing a stop,

was being able to transport it.

Because it was COVID year, the entire
world and all these different companies

were actually importing and buying, Face
masks and these covers that, you know,

the hospital and healthcare staff use.

And there were no space on any planes
to get your, let's say, 18 pallets

of Propofol and fly to Sweden.

There was no way.

We, we tried and tried and we
called everywhere, every logistic

company possible who could help us
and they couldn't because everybody

was in, every, every space was
fully booked months in advance.

What we ended up...

Was actually, ended up, ended up
chartering a plane four times, two times

out of South Korea and two times out of
Ukraine to be able to bring the stock in.

And this is something that they've
never done in, in our business.

It's quite normal to fly, you
know, products, let's say through

UPS or FedEx or Tesla, yeah.

Or like, if you're not in a rush, you
get a temperature controlled truck.

But we've never chartered
a plane in our life.

So it was quite interesting and
challenging to be able to do that.

We got lucky with that as well.

We called everyone that we know.

We googled and we contacted
all these different companies.

And we sorted it out.

We got lucky.

We sorted it out.

We chartered a plane at a huge, huge sum.

And we got our 18 pilots.

But Again, with our own challenges,
everything was done, the paperwork

was done, the banks were happy, and...

Then for example, one issue we
had was the customs in Ukraine.

were delays and they were not
releasing the goods and the plane

was supposed to take off at a
specific time and it was 9 p.

m.

and we had this this heart palpitations
and we were so stressed and nervous

because the day after we had
promised The hospitals insured that

they were going to get the stock.

The plane was supposed to arrive
in a couple of hours and then we

had trucks already at the airport.

We were supposed to go and split
these pallets into different shipments

and into different long haul trucks
and different, you know, sites of

the country directly to hospitals.

But it worked out at the end.

We got lucky and we repeated the
same deal and the same transaction

and supply and logistic chain.

three more times.

So in total, we had to charter
a plane four times to do that.

And as far as I know, we were
the only one who could do this.

And we're very proud of it because we
were, we ended up doing in things where,

which were out of our comfort zone.

We didn't have this space in
our small warehouse back then

to even store 18 pallets.

We could do two, three pallets.

I mean, there was no way
we could handle 18 pallets.

The entire team in the company.

Came together, we went to the airport,
and we started splitting, going to,

and imagine doing a batch control of so
many different packs, and when we got 18

packets, it was six different batches.

It was, it was standing and going through
that for hours, trying to do this split.

And of course, at the end of it,
everybody felt good, because we

actually got to save patients.

So that is one of our proudest moment.

And since you've done that, you
think that anything is possible.

And as long as we have the help
and support of our vendors and,

you know, our suppliers, we
are capable of doing anything.

Stefan Repin: Oh, that's a wonderful
case study of great teamwork on both

on your side and the supplier side.

Okay.

My question would be more in
terms of, so you guys are a small

company, so you could see, you're
supposed to be more like agile.

I was wondering what.

We just discussed the usage of Pharma14.

Is that the Israeli company
that supplies you with data?

Nicky Nadem: Yes, correct.

Stefan Repin: I was wondering how
do you use this data to like improve

your sales or like track sales or like
how do you use data for your sales?

Nicky Nadem: Use data to source medicines
that on a routine basis would not be able

to find in our own let's say local Dropbox
database that we have built or online.

And because of language issues.

We, so this database, Pharma14
shows us what product, for example,

is available in South Korea.

That there's no way I would've been able
to, you know, find, if I went to Google,

for example, regular, you know in the
normal conditions or it shows us products

in let's say, In Asian countries that
we wouldn't normally go to, source from.

So it helps us with sourcing.

It also gives us an indication of
what the pricing is in that country.

So it also helps us with you
know, with, negotiating prices

with our existing vendors.

And it also it gives you a general
overview of what our competitors

are also capable of sourcing
and what their pricing would be.

So that's how we use Pharma14.

Stefan Repin: We talked about using
data and one of the biggest, well,

the biggest data supplier on the
market is IMS, which is now IQVIA.

And what I found very interesting is that
when we were in the Philippines with our

company with Platforce, visiting local
potential customers I actually asked like,

how did IQVIA, how did IMS get so much
data on prescriptions and drugs, right?

And, and doctors.

And apparently they've been, they
have this like Carbon made like

dashboards where doctors write
their prescriptions, basically write

Carbon and it leaves a copy there.

And all that copy is
basically the property of IMS.

So they give out free notebooks, but
in the back they have prescription.

And basically that's how they get all this
data and all these like doctors writing

prescriptions, and that's how they get all
this data on like how much prescriptions

have you made and what market.

And then I think if you put it
together you know what the supply,

you know what the supply is, you
know what the demand is, and you have

just like huge data companies like.

So they're doing a great job.

I have nothing but to appraise them.

I was wondering like, so
your relationships with

suppliers are like very tight.

How do you manage those relationships?

Right?

Like you have to be professional,
but at the same time friendly.

Like, do you have a way to do that?

Nicky Nadem: We are extremely
loyal to our vendors.

Stefan Repin: Mm hmm.

Nicky Nadem: We started the company
seven years ago and when you have zero

turnover and you have really bad cash
flow, there are not a lot of companies

who are willing actually to work with you.

So, since we started Actuals 2016, there
were a couple of vendors that we knew from

the past and they were willing to give us
a bit, you know, better, you know, credit

terms and they were willing to supply
us and help us to get on our, foot.

And of, you know, and we
never forget these things.

We never forget who helped us
when we were a really, really

small company with, let's say, two
shipments per day to the pharmacies.

And we stay loyal.

And just because, let's say,
another vendor comes and says,

Look, I can offer you these German
or these American products 10

percent cheaper, we don't switch.

We never switch because of that.

And we make sure that
our vendors know that.

We also want our vendors to benefit
from our, you know, our collaboration.

So we try not to be price sensitive.

And, We ask them for service, agility,
and being, you know, quick on their feet.

And for that, we have no
issue paying a little bit more

than their other customers.

So, these are a few things that
we do to keep our vendors close.

Also, recently, or actually a
couple of years ago, we narrowed

down our number of vendors.

From, let's say, 20 to actually 5.

So we work with our top 5 vendors.

It might sound dangerous to put all your
eggs in one basket, but we have done

that, and we've trusted our vendors.

For example, we have this one or two
top vendors in the US that we use.

We have one German vendor where we
buy all of our German lines from.

And they know that.

We make sure that they know we're not...

We're putting all the eggs in
one basket and we're trusting

them, and they trust us back.

So and they appreciate the business.

It becomes also easier for them.

Why, for example, it wouldn't be
beneficial for them to, for example,

is say send 10 packs to Atrimus, 10
packs to Company X in Sweden, 5 to

another one, while they could, you
know, do, let's say 50 packs of, you

know, ship 50 packs to Atomos instead.

Stefan Repin: Mm

Nicky Nadem: Less paperwork for them.

Less, you know logistic handling for them.

And, More profitable for them.

Stefan Repin: hmm.

Regulatory tool as well.

Nicky Nadem: So we try to make
it as comfortable and as easy as

possible to work with Actions.

So these are a few examples
of how we handle our renders.

Of course, we also try to have these
quarterly follow ups, or even, you

know, weekly calls if necessary in
follow up, and if there's anything

that, let's say, is not working for
some reason, we call them up and we

let them know immediately, and we
give them the chance to sort it out.

We do not just let it go on
for days or months, and then...

I guess, get dissatisfied or
mad at them for not performing

according to expectations.

We let them know immediately
what they can improve.

And they really appreciate
it and they do that.

Stefan Repin: Mm hmm.

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
So, really good, let's say,

loyal, honest and transparent
relationships with our vendors.

Stefan Repin: Nicky, how about
like your your sales side, right?

So like, how many, do you have people
who go in the fields and then they

visit say doctors or pharmacies?

Nicky Nadem: No.

Because the nature of the business
that you're doing is importation of

foreign medicines into Swedish market.

So by definition, these foreign
medicines, let's say this FDA approved

product, or if this Swiss medic
approved product is not approved in

Sweden, you're not legally allowed
to market these products in Sweden.

Stefan Repin: hmm.

Okay.

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
under no circumstances allowed to go

out and visit physicians in market.

We can market our services, but we
cannot promote a specific product.

Stefan Repin: So basically if there is
an order of let's say Atrevin, right?

Then, and it's not marketed in
Sweden, then in this case, You will

deliver it right to the doors of
the medical facility, but you're

not allowed to discuss capabilities.

You're not allowed to market it.

Am I correct?

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
What we do is if the physician

or the pharmacy asks us for help,
then we're allowed to give them

as much information as possible.

That's the regulator.

Stefan Repin: Okay.

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
We reach out to

Nicky Nadem : you, to Atrimus, yes, then

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
we give them all the info that they need.

But we cannot proactively let them know.

And this is quite unfortunate for we
have these huge shortages in Sweden and

a few months ago there was this was on
shortage and it was a really important

product because I remember patients
were being interviewed on tv and in

newspapers where they said that they
would they would be going blind if this

medicine was not back in the market

Stefan Repin: Oh, okay.

Nicky Nadem : sitting on this
product this equivalent in our

warehouse and we could not go out
and inform physicians in Sweden.

And we have it.

So it has its downsides as well.

But if a physician who is aware of
regulatory and who knows that they

can legally prescribe a foreign
medicine for a patient or the entire

clinic reach out to Atrimus, then we
can give them all the information.

If they just send us an email and
say, Hi, what do you have available?

We can give them all
the info in the world.

So it's a bit...

difficult business to be in but
once you're in and once you're

well established and the physicians
and the clinics are aware of your

competence and your knowledge and
then they come to you automatically.

So the way we have succeeded is
that we get this daily request we

do not reach out to physicians or to
pharmacists and clinics they come to

Stefan Repin: Yeah.

When I used to work for this parallel
import company, you know, start today

we did price requests every week.

We had price requests.

Basically, we would send a
price request to our vendors.

Nicky Nadem: Yes.

Stefan Repin: And we would send the
price request to our suppliers as well.

So basically you would have
this database of supply.

From our vendor, from our people or
companies who can supply medicines.

And at the same time, you
would have some sort of price

request from agencies as well.

Agencies and pharmacies, right?

So they would know,
yeah, we're still live.

So we, I used to call these...

Request newsletters, because they
look more like a newsletter because

it was really like a newsletter.

I would put sometimes, as I remember now,
I put sometimes interesting information

about pharma, it was going in the market,
and you know, before me, they were just

like simple, like, do you have this, do
you have this medicine, right, and how

much, and what package, and what strength.

And I started like making it a bit nicer
and then people started reading so we

had a good output rate and our results
were a bit better than than before.

It was a long time.

Since then, but you know, that shows
that the way that there is a place

for innovation anywhere, even if it's
like such a sort of like, I would

say boring, you know industry or like
boring activity that you have to do.

Okay.

I'm wondering, like, do you have a
way, so you guys have, like, if you're

small, you know, small companies are
usually very agile, very flexible,

very technologically innovative.

Are there any, like.

Okay.

First of all, like how do you stay up
to date to like the latest technology,

like in terms of like sales marketing or
sales techniques, like anything that's

around that and like how do you use it in,

Nicky Nadem : It's true.

I would say LinkedIn is through local
publications to, through newsletters,

and then through our IT vendors we try,
I mean, Sweden is quite digital and we're

very proud of it and what we do is, at
Adelaide Channels at least, every quarter

we go to our existing IT vendors and we
ask them, So what's the latest thing?

What is the, you know, latest
function or latest model?

And then we try to figure out, is this
something that improves our daily work,

or is this something that will improve
you know, life for our customers?

Either way, if it's something that
is beneficial for either side, we

try to take it in and implement it.

But we also try to be some sort
of a trendsetter and bring in the

latest solutions to the market.

That's something we're also proud of.

Just to give you an example, I believe
that, I hope I'm not wrong, but as

far as I know, before Atrimus, there
was no official, there was no proper

database of unlicensed medicines in
Sweden where a physician or pharmacist

could actually log in, search on active
substance brand name, ATC code, see the

authorization number of that product,
download SPC, see pricing, stock level,

latest, you know, expiry date and shelf
life or download product monograph.

There were small databases, but they
didn't cover the entire, you know, all

the necessary regulatory information
that was needed for a physician to

prescribe this foreign medicine.

So we were the first one to
actually launch this database

in Sweden a few years ago.

And, It was with actual collaboration
of one of the biggest pharmacy

chains in Sweden, which we are
really, really grateful for.

We got their input of how they wanted it.

And we did that and we keep, you
know, trying to add more new functions

to it on a monthly basis, trying
to make their lives easier and

make sure that the physicians and
the pharmacists spend as minimum.

Admin time on unlicensed
medicine as possible.

And we've been a trendsetter for that.

And we've seen that other companies
and other wholesalers and vendors of

unlicensed medicine like Atomos are
starting to use the same layout as us.

Which is quite a nice compliment.

That you're always the first one and
other companies follow our trend.

You

Stefan Repin: work with that was
the heart apothecary in Sweden,

was that the one you were,

Nicky Nadem : Yes, one of the
pharmacy chains that we supply.

You saw the post on
LinkedIn yesterday, I see.

Stefan Repin: Oh, yeah, I've
worked with them as well.

Okay, cool.

So my question is like, when, when you get
these Packages, do you have to translate

the labels into Swedish or how it works?

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
No, we're not allowed.

According to local regulations, these
unlicensed medicines, these foreign packs,

they should be sent to the pharmacies and
clinics exactly as they have been arrived.

So if you have a Japanese pack,
it goes in Japanese, exactly in

original packaging, to the corner.

If it comes in Greek, it
goes exactly as it is.

Stefan Repin: So you're not allowed
to label it, translate it, or

do anything basically, right.

Nicky Nadem : Touch it.

No.

Stefan Repin: At all.

Nicky Nadem : At all.

This is just of good.

It's a nice thing.

So you should have the products coming
in and then going out the same day.

It's amazing.

Stefan Repin: So look, I'm
wondering, since you guys have been

innovative in so many things, right?

Like from A to Z how do you,
sort of like manage your sales?

Like it's a very, you know, it's a
very tough business because you have to

deliver medicines like on a very tight
schedule and you have to stay, you try

to stay without a big stock, right?

Like your stock is literally
zero if I'm not mistaken,

Nicky Nadem : Not necessarily, no.

We have at the moment we have a
portfolio of around 5, 000 products.

But we stock around four
or five hundred items.

And it's a risk you take, because,
these are, some of these products

are products which have been,
prescribed in Sweden for decades.

And you know that they're going to sell.

So you bring in, and we always have a war.

One month's worth of stock
of those specific items.

And then of course we have sometimes
tenders for unlicensed medicines,

for bigger volume products,
and we stock those as well.

But then the rest of the
portfolio are basically on order.

If we receive an order from a
pharmacy or a clinic, then we

place an order with our vendors.

Stefan Repin: During the COVID times like
I assume logistics for it was a big issue

is logistics is still a big issue for
ordering like medicines even after COVID

Nicky Nadem : It is.

It's because I think that if I understood
correctly, all these logistic companies,

have problems with having enough cars
and are, they're all understaffed,

which makes it difficult for products to
arrive on time and get delivered on time.

The majority have the same issue and
I guess if you just end up picking a

logistic company with the least problems.

That said, I mean, you wish for the
best and you pray that it works.

But what we do actually good that you
mentioned is because we, we had a, we

had these huge issues with the domestic
distribution recently where the products

were not being delivered as, even in
the time frame that we had an agreement

on with this logistic company and what
we did was actually we bought our own

car, at least for the Stockholm County.

We hired a driver, and we
took over the Stockholm County

distribution by ourselves.

We just said, enough is enough.

We have waited six months, and they
cannot, you know, sort out the issue.

We understand their challenges.

They cannot do anything about it.

So, okay, let's solve at least
the Stockholm County by ourselves.

And we've had...

Our own domestic distribution
by our own driver and car since

March, I would say, and we continue
to do that on a daily basis.

Stefan Repin: Is it like is it
a truck or it's like a fridge?

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
It's a small van.

It's a small van.

And we have between 10
to 20 shipments per day.

So we have our driver, Alex, who drives
around Stockholm County and delivers

all these medicines to these pharmacies.

Stefan Repin: Well, you took the
matter in your own hands, right?

Nicky Nadem : Yes, I mean,
that's what you end up doing.

Here's the thing.

This sort of business that you're in,
it's so competitive, that if you drop

your service level, anybody can take over.

So,

Stefan Repin: Oh, yeah,
yeah, yeah, I know that.

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
Is extremely important.

Stefan Repin: I know
the competition is real.

If you are not going to deliver, then
the pharmacy will work somewhere else.

Or hospitals.

Extreme competition for
all these standards.

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
Yes, exactly, exactly.

So it's a

Stefan Repin: very tough.

Nicky Nadem : business, you
have to be on top of your game.

Every single day, all year round.

Stefan Repin: Gotcha.

Nicky Nadem : Which is
funny, it keeps you alive.

Stefan Repin: Mhm.

I have a question.

So you're the CEO, right?

Are you the founder of the company?

Nicky Nadem : Yes, yes.

We were two in the beginning, but now
it's, we were two, we became three,

and then now we're back to two.

Stefan Repin: Okay.

Tell me as a, look, I'll tell you,
honestly, female leadership is very

scarce and I'm actually very proud that
you've been recommended this podcast

and you know, I'm enjoying this as
well, but I want other women to learn

about like, what is it to start a
company, especially in such a market?

Like the one you do with working
with pharmacies and medicines.

Tell me a little bit about your
entrepreneurial journey as a female.

Why is it, what was challenging
personally for you as a female

entrepreneur, female business leader?

Nicky Nadem : I think that the biggest
challenge I've had was been with the,

some image or manufacturers were, I
have not been, I guess, taken seriously.

Stefan Repin: Are you serious?

What?

In Sweden?

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
No, no, no.

These are, these are some European.

No, no, no.

Not in Sweden.

No.

Stefan Repin: Okay.

Mm hmm.

Nicky Nadem : European manufacturers.

For example, I can keep it
without revealing too much.

We were involved with a Dutch company

Stefan Repin: Mm hmm.

nicky-v119l6bxa__raw-synced-video-cfr_nicky-nadem-atrimus_2023-sep-22-0713am_pharma_sales and te:
and I got tricked, I got manipulated

and the way this person was talking
to me was like, Hey, you little girl.

Stefan Repin: Condescending, yeah?

Mm hmm.

Nicky Nadem : It's
very, very condescending.

And I till today I regret why I
did not walk out of that meeting.

I still don't understand why I
just sat there and listened to it.

But, other than that, to be honest, I
must say that I've been very blessed

and lucky because, in general, I
haven't had that many challenges.

The bank has always had my back.

My business partner
has always had my back.

And...

The vendors have always had
my back and the same with the,

you know, pharmacy chains.

They've been very, very supportive
since day one, since, you

know, we started the company.

The same thing with our IT vendors.

It's like they were this elderly couple.

Who had their own IT company and they
helped us, you know, set up our CRM

and business system and they took
us in like they're, you know, we

were their children and until today
they still help us with everything.

I can call them with other
names and they would help out.

So I haven't had that many challenges.

It's just that sometimes when it comes
to some, let's say, some outside,

let's say some European companies, I've
had some challenges and I've also had

challenge with one American company where.

The attitude was different comparing to,
let's say our, you know, company values.

They were on a different level and I
don't want to reveal so much, but we just

ended up we not collaborating anymore.

We didn't share the same company values
and, you know, how you collaborate and

how partnership and business is done.

And I really, really appreciate
transparency and honesty and

there was lack of honesty in that.

But other than that,

Stefan Repin: Is this your
first enterprise or you've been

doing like business before?

Nicky Nadem : This is
my very, very first.

Stefan Repin: Oh wow.

That's so so much success.

Nicky Nadem : Thank you.

And I think the reason behind the success
is one of them is, is being transparent.

I've been transparent with
everything, with our vendors and

also with the pharmacy chains.

We're very transparent.

And also had really, really, really
good colleagues who are, who really

care about the business, but also about
each other and they help each other out.

Having a great team in place.

You can have the greatest business ideas,
but if you don't have the team there to

implement it, then they don't matter.

They don't matter at all.

Stefan Repin: Gotcha.

So how do you keep your team motivated?

Nicky Nadem : By giving them the
freedom to take care of the customers,

and they do their own pricing.

I give them guidelines in the
beginning, what factors they

should, you know, think about.

But other than that,
they have full freedom.

Of handling the customers and
but also paying them handsomely.

I think it is very important to give
proper salaries and bonuses to the

staff and make their lives easier.

And they do really appreciate it.

So it's a freedom of, responsibility
where they take care of their

customers and clients as they wish.

But also generous bonuses and salaries.

So they can have really
good, you know, quality life.

I want them to be able to buy
whatever they want, to go to any

concert they want, to take vacation
anywhere they want, and be fulfilled.

Because life is not about work.

Definitely not.

And should have really good,
you know, quality of life.

Whether it be going to concerts
or taking, you know, long

vacations, quality of life matters.

If your colleagues and your employees
are happy in the private life, then

they're also happy and satisfied at work.

Stefan Repin: That's an
interesting philosophy.

I'm gonna write it down.

Nicky Nadem : Yeah.

Stefan Repin: Alright, cool.

So you like the work-life balance
or more like life work balance?

Right.

More on the life side and
less on the work side.

Nicky Nadem : yes.

I don't think there's one
in this world to work.

Absolutely.

Stefan Repin: And you're
a business leader.

Wow.

Alright.

I'll know that.

Okay, we don't have much time left, so
I'm gonna ask you your last question.

So what would be the advice
you would give to other let's

say female leaders in pharma?

Nicky Nadem : I would
say that stay humble.

That's extremely important.

Ask your colleagues and your
coworkers for their opinion.

Stefan Repin: Mm hmm.

Nicky Nadem : And even though
you've been successful for

years let it get into your head.

I think it's, it's really, it really
helps when you're down to earth.

And I would say try to be as transparent
as possible with your customers.

That is something that has helped
us a lot during several occasions.

Even when it comes to tenders,
I can give an example.

I tell the pharmacies what
our raw purchase price is.

I tell them exactly what it is.

Yes.

And it works.

They appreciate it.

Because it takes away this illusion or
this potential illusion or, you know,

idea that we are, because we are a
private company, we are greedy and we are

there to make as much money as possible.

Yes, we are a private company.

Yes, we would like to make money.

But, we also want to be transparent
and show that, you know,

show the numbers and figures.

So we tell the pharmacy chains.

We show them the raw purchase prices.

And we tell them, look, we have
added 3 5 percent because of

this and this and this and that.

And it works every single time.

Stefan Repin: People would be amazed how
small of a markup do actually distributors

like what companies like you make.

I think it's better if you actually
tell them it's well open up.

Most pharmacies or like vendors
they think, or like you charge

billions, but actually it's like a
very small markup that you live by.

So,

Nicky Nadem : Yeah.

True.

True.

Stefan Repin: Cool.

Thank you.

Thank you, Nicky, for the podcast.

Hopefully we can meet maybe in a year time
and you'll tell me more wonderful stories

and we'll gather more learnings from you.

Okay.

Nicky Nadem : Thank you
so much for having me.

Absolutely.

Thank you so much for having

Stefan Repin: Have a good one.

Bye.

Nicky Nadem : Thank you.

You too.

Bye.

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