A former Angus lad who leads a globally-focused pharmaceutical research firm in America has urged local business leaders to look overseas for new growth opportunities.
Dr Mike Butler, a former pupil at Forfar Academy who also attended Dundee’s Kingsway Technical College, delivered the message after flying to his native Scotland from Maryland to give the keynote address at the opening of Angus Business Week.
Dr Butler told delegates at the event at Carnoustie Golf Hotel that “I passionately believe that everything is manageable”, and said firms should not be scared of looking outwith traditional markets for new growth opportunities.
Dr Butler cut his teeth in the sciences sector at GSK in Montrose and later joined Huntingdon Life Sciences UK, as group business development director.
His jet-setting career saw him move on to MDS Pharma Services as group vice-president, and as chief scientific officer with Aptuit he worked across Europe, the US and Asia as the firm embarked on an aggressive growth through acquisition strategy.
In that period Aptuit grew sales from $75 million to $200m, and significantly increased its geographic footprint from three locations to eight sites globally.
In 2008 Dr Butler joined drug research firm Xceleron as CEO with a view to building on its previously limited commercial success.
The firm, which uses accelerator mass spectometry to analyse tissues samples, now turns over circa $10m per annum and has a staff of 20.
Dr Butler told guests he had adopted an international strategy when building Xceleron and had enjoyed the challenge.
“I worked hard but I have never had so much fun in my life,” he said.
Dr Butler said Scottish Enterprise trade missions were a good way to broaden horizons and get a sense of what doing business was all about in a different culture where language barriers could be an issue. He said growth overseas could be a worthwhile adventure.
“You have to make sure the growth is there and the competitive situation is right (before you begin). It could be that going into a big market is not right.
“America, where we are based, is a big market that is growing fairly well but it is hellishly competitive.”
Dr Butler said partnerships were key for overseas growth, and the best way he had found to manage that process was to create informal relationships that could later be formalised.
“We are in the supply chain for pharmaceutical development. There are clinical trials going on across the world and we have to partner with people who can send us samples.
“I would advise doing project-specific contracts together, seeing how that works, putting a master service agreement in place and, if that works out, then maybe work in full partnership.”