Ep. 258, Chapter 1: Introduction To Tom Wells And 4C Associates
0:00 – 7:03
Life Science Leader Chief Editor Ben Comer introduces Tom Wells, Director of Life Sciences at 4C Associates, to discuss the critical role of procurement in biotech. Wells — who has experience at companies like Novartis, Takeda, and BMS — began his career in marketing before discovering procurement at Electrolux, where he helped reposition it as a strategic function. After running his own marketing procurement consultancy, Wells transitioned to the pharmaceutical industry as the post-2008 financial crisis forced pharma companies to become more disciplined with spending. Wells stresses that effective procurement, focusing on collaborative supplier relationships rather than just cost-cutting, can significantly impact a company's growth and efficiency.
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