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Ovation Pharmaceuticals, Inc.
Portfolio Company of the Year Award
for private equity-backed companies
Under GTCR’s ownership, Ovation Pharmaceuticals (now Lundbeck, Inc.) was a specialty pharmaceutical company focused on acquiring under-promoted branded pharmaceutical products and promising late-stage development products targeting small patient populations with high unmet medical need. Ovation increased the sales of its acquired products through the implementation of active selling efforts and creative marketing programs, as well as product life cycle activities that focused on developing new formulations, new indications and other product improvements.
IN 2002, GTCR partnered with two exceptional leaders, Jeff Aronin and Wilbur (“Bill”) Gantz, to build Ovation. Mr. Gantz (Chairman of Ovation) was previously the President of Baxter International Inc. and Chairman and CEO of PathoGenesis Corporation, a company he founded, built and successfully sold. Mr. Aronin (President and CEO of Ovation) was previously CEO of two successful venture-backed healthcare companies and a sales and marketing executive with American Health Products and Carter-Wallace. The Ovation management team exemplified GTCR’s “Leaders Strategy” - seeking out and building partnerships with exceptional executives who have established track records of creating equity value for companies and investors.
Ovation focused primarily on acquiring development stage and marketed drugs in the therapeutic areas of neurology, hematology and oncology. Many of these products targeted orphan indications, i.e. small patient populations with a high unmet medical need. Ovation made eight acquisitions from 2002-2006, largely carving out products from major pharmaceutical companies.
Overall from 2002 to 2009, Ovation strategically transformed 10 separate acquisitions of pharmaceutical assets into a neurology-focused biopharmaceutical company with an excellent commercial platform and a portfolio of clinically unique drugs targeting largely unmet medical needs. In February 2009, after a robust sales process, Ovation announced an agreement to sell the company to Lundbeck, an international pharmaceutical company. Ovation was founded with 6 Illinois employees in 2002 and when the company was sold in 2010 the company had 177 employees in Illinois.
Back to 2010 Annual Awards Dinner - Recap
IN 2002, GTCR partnered with two exceptional leaders, Jeff Aronin and Wilbur (“Bill”) Gantz, to build Ovation. Mr. Gantz (Chairman of Ovation) was previously the President of Baxter International Inc. and Chairman and CEO of PathoGenesis Corporation, a company he founded, built and successfully sold. Mr. Aronin (President and CEO of Ovation) was previously CEO of two successful venture-backed healthcare companies and a sales and marketing executive with American Health Products and Carter-Wallace. The Ovation management team exemplified GTCR’s “Leaders Strategy” - seeking out and building partnerships with exceptional executives who have established track records of creating equity value for companies and investors.
Ovation focused primarily on acquiring development stage and marketed drugs in the therapeutic areas of neurology, hematology and oncology. Many of these products targeted orphan indications, i.e. small patient populations with a high unmet medical need. Ovation made eight acquisitions from 2002-2006, largely carving out products from major pharmaceutical companies.
Overall from 2002 to 2009, Ovation strategically transformed 10 separate acquisitions of pharmaceutical assets into a neurology-focused biopharmaceutical company with an excellent commercial platform and a portfolio of clinically unique drugs targeting largely unmet medical needs. In February 2009, after a robust sales process, Ovation announced an agreement to sell the company to Lundbeck, an international pharmaceutical company. Ovation was founded with 6 Illinois employees in 2002 and when the company was sold in 2010 the company had 177 employees in Illinois.
Back to 2010 Annual Awards Dinner - Recap
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