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Interview with Thommen Chacko – General Manager Bristol Myers Squibb Sweden

What inspired you to pursue a career in the life science sector?

Like many of us, I grew up with close family and friends who faced severe diseases such as cancer and neurological disorders. I witnessed firsthand the profound impact that medicine can have on both patients and their support systems. Although I am just a small drop in the ocean of humanity, the opportunity to contribute positively to human health and make a broad impact on society has always appealed to me and continues to inspire me to make a difference.

What is your vision as general manager of BMS Sweden?

My vision for BMS Sweden is to ensure that patients in Sweden have fast and equal access to the latest medical innovations. While this is an ambitious objective, it is achievable if all stakeholders in Swedish healthcare collaborate and unite around this mission. The opportunity to help patients thrive and ensure they receive the treatments and care they deserve is too important to pass up.

What would you say is the biggest blocker of that?

I see two major challenges facing Swedish healthcare today. First, the introduction system, which was fit for purpose 20 years ago, is now outdated due to the rapid pace of innovation and scientific discovery. As a result, Sweden lags behind similar countries in terms of patient access to innovation.

The second challenge is the pressure on governmental budgets due to aging populations and their need to access healthcare solutions resulting in higher costs. The current approach to this challenge is akin to cost containment which is less than ideal for a variety of reasons. We need to view health not as a cost, but as an investment that benefits society.

At BMS, we pride ourselves on being constructive partners. We are working with industry members to modernize the introduction system sustainably and responsibly. Additionally, we aim to educate stakeholders about the positive cycle of innovation and its value to society, from early discovery to clinical trials and the adoption of new treatments, ultimately benefiting patients and contributing to societal well-being and economic prosperity.

How does BMS balance being a global pharmaceutical leader with addressing local healthcare needs in Sweden? 

At BMS, we believe in keeping patients at the center of everything we do. In Sweden, we balance our needs by localizing innovation through clinical trials tailored to local patients. We collaborate with academic institutions, healthcare providers, and government agencies to address common challenges.

We advocate for patients, ensuring their voices are heard and their needs are met with our products and services. This approach helps us provide global solutions to local problems, tailored to each country we operate in.

And what do you consider BMS´s greatest achievements in the life science sector in Sweden so far?

We have much to be proud of and a rich heritage in Sweden. I will highlight two key areas that we are most proud of:

First, our groundbreaking innovations in hepatitis C and immuno-oncology, recognized by the Nobel Committee, have made us pioneers in treating & in some cases curing serious diseases. We have also introduced first and/or best-in-class medicines in cardiovascular and autoimmune diseases, benefiting thousands of patients, particularly in preventing strokes with our leading anticoagulation therapy.

Second, we have strong partnerships with academic institutions and regions. Our innovative research in Sweden has provided early access to new treatments, making us leaders in the field both locally and across Europe. Sweden remains a prioritized market for us, and we believe the best is yet to come.

It also brings us to what role partnerships play in BMS’s global and local strategy. 

Partnerships are fundamental to our operations. While we are a global company, we recognize that we do not have sole ownership of the best ideas in our industry. Therefore, it is crucial to engage in partnerships, particularly in research and development, to scout for the best innovations both internally and externally.

We have multiple collaborators and partnerships globally, including in Sweden, Europe, and other regions. Locally, two key partnerships stand out:

  1. Akademiska sjukhuset in Uppsala: We have collaborated with them and other industry peers to move certain cancer treatments from hospitals to shopping malls. This initiative addresses resource constraints and infrastructure limitations within hospitals, improving patient and healthcare staff experiences, and enhancing efficiency in resource and cost management.
  2. Regional Considering-AF initiative: This project uses health data to improve patient outcomes by predicting which patients are most at risk and intervening early. This modern approach helps prevent disease progression and reduces healthcare costs.

These scalable initiatives serve as excellent examples of how we can address significant challenges in Sweden and Europe today.

How does BMS ensure that its innovations and treatments remain at the forefront of medical science? 

At BMS, our vision is to be a leading biopharmaceutical company by transforming patients’ lives through science. Our mission is to discover, develop, and deliver innovative treatments for patients with serious medical needs.

To deliver on that vision & mission, we invest significantly in R&D, positioning ourselves amongst the industry leaders in this area. We tackle challenging scientific problems and source innovation both internally and externally in key areas of interest.

We are pioneers in immuno-oncology, cardiovascular diseases, neuroscience, and cell therapy, with a unique ability to impact patients’ lives across various diseases. Our focus is on delivering differentiated, first and/or best-in-class treatments in the disease areas we specialize in.

Looking ahead what are your top priorities for BMS in the next five years? 

My top three priorities are: First, ensuring that all our innovations reach patients in Sweden. Over the past five years, only about half of the medicines approved at the EU level have made it to Sweden, which is concerning. Our goal is to modernize the system so that everyone, regardless of their background or location, has access to the best medical interventions.

Second, we aim to be a strategic and solution-oriented partner. We recognize that we cannot solve these challenges alone, so we strive to be a trusted collaborator, bringing our competencies to the table to address the opportunities and challenges in Sweden.

Third, we want to continue attracting and nurturing talent. Sweden has a fantastic life sciences ecosystem, and we aim to build a culture that makes us an attractive workplace, fostering local and global leaders.”

What is your perspective on Sweden’s role as an innovation hub for life sciences moving forward?

Sweden has a rich legacy of innovation across multiple sectors, including life sciences, where the country’s environment, which fosters early research, basic science, and collaboration helps it have an outsized impact relative to its size. We aspire to be one of the leading life science nations in the world. By taking tangible steps and working together, we can achieve this goal. The potential is limitless.

Can you tell me a little bit more about why you chose to partner with The Park? 

We find the location of The Park in Forskaren to be an extremely interesting environment for us to be associated with and present in. Hagastaden is likely the most innovative hub in Stockholm, and possibly Sweden. The vision for this area to become like Kendall Park in Cambridge aligns with our goals.

We aim to be good partners, build strong networks, and collaborate with those present here. We have competencies to share with the ecosystem and are open to ideas and ways to partner with everyone associated with The Park and Hagastaden more broadly.

We look forward to being present here and interacting with the environment around us.

What sort of collaborations are you looking for here at The Park?

From a broad perspective, there are a few areas we are particularly interested in. We welcome ideas that align with our goals for advancing Swedish healthcare, especially those addressing the challenges we’ve discussed.

We are open to conversations with companies, particularly those in the early stages of their lifecycle. As responsible partners in this ecosystem, we believe we must share our unique competencies and experiences with those who can benefit from them. This is one way we believe we can contribute to the advancement of Swedish healthcare.

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