Our Business
CEO Letter
Letter From David K. Lee
Since entering the U.S. market in 2018, Servier has been relentless in its mission to deliver breakthrough innovations for those living with difficult and hard-to-treat conditions, providing medicines to more than 30,000 patients across the country. What initially drew me to the company was its unique structure within the biopharmaceutical industry. Being privately held and governed by a non-profit foundation appeals to me, affording us the freedom to invest in areas where others may have failed, considered too risky or didn’t feel they were profitable enough. We can take risks and move beyond disease areas that already have treatment options and, instead, fuel our leadership in the treatment of IDH-mutant cancers.
This approach to business development allows us to push the boundaries of healthcare innovation, as evidenced by our key acquisitions, collaborations and partnerships, and long-term investments in core research areas. Servier’s acquisition of Shire’s oncology business that helped us establish an immediate and direct commercial presence in the U.S., and our 2021 acquisition of Agios Pharmaceuticals’ oncology portfolio, set the stage for the approvals of TIBSOVO® (ivosidenib tablets) in cholangiocarcinoma and myelodysplastic syndromes, and now VORANIGO® (vorasidenib), the first treatment breakthrough in IDH-mutant glioma in over two decades. Our strategic – and bold – approach is key to being an industry leader and transforming the lives of patients.
Through strategic partnerships, we’ve more than doubled the size of our portfolio and cemented ourselves as the pioneer driving the science behind targeted mutant IDH inhibition. We invest heavily in R&D and are actively seeking partnerships to build our pipeline and accelerate the development of new treatments in oncology and neuroscience. This is a key driver of Servier’s significant growth. In fact, in the past five years, we have achieved a strong compound annual revenue growth rate (CAGR) of 29%. Through 2028, we further expect to deliver a 15% revenue CAGR.
Servier was the first company to deliver an IDH inhibitor to patients living with IDH-mutant cancers. The approval of VORANIGO was based on the pivotal Phase 3 INDIGO trial, which demonstrated that VORANIGO significantly extended progression-free survival and time-to-intervention when compared to placebo. VORANIGO is also the sixth approval for Servier in IDH-mutant cancers, showcasing our steadfast commitment to pipeline development in new and underserved disease areas.
We’re all in this business because of the difference our work can make for patients, their families and caregivers who have waited too long for life-changing treatment options. I’m proud to lead a company that is intentional and long-term in its thinking about the right partners as we look to help people live longer, healthier lives.
Regards,
David K. Lee
Our Rapidly Growing U.S. Business is Keeping Pace in an Ever-Changing Industry
Business Development
Sustained Financial Growth
In our fifth year, we’ve shown tremendous growth: we started FY2023 with a projected revenue of $607M and we ended up exceeding those benchmarks and closing the fiscal year at $678M.
We have achieved a strong revenue compound annual revenue growth rate (CAGR) of 29% over the past five years, driven by organic growth and outperformance of our partnerships.* Looking ahead to 2028, we forecast our portfolio to deliver a revenue CAGR of 15%.
Financial Outlook for 2030
We have already exceeded our 2025 goals, aided by a successful integration of the Agios oncology portfolio, earlier data readouts and FDA approvals in CCA, AML, MDS and a strategy anchored in investments in smart science.
Our Culture Propels Our Business Approach
According to the Corporate Leadership Council, a positive culture drives a 20.1% increase in employee performance. At Servier, we take pride in our unique culture, guided by a passion for innovation and improving the lives of patients and their families and caregivers. This culture is defined by many things, including access to senior leadership, respect and care for our people, diversity at all levels, leadership development and transparency.
In 2024, we were named by the Boston Business Journal as one of the “Best Places to Work,” the outlet’s exclusive ranking of the Massachusetts companies that have built outstanding work environments for their people, for the fourth consecutive year. This is a true testament to Servier’s work and commitment to stand out from other pharmaceutical companies.
What Defines Servier’s Award Winning Culture?
Since our entry into the U.S., our team has grown to 441 total colleagues, with more than half supporting Servier BioInnovation and R&D. Now, with the launch of VORANIGO, a groundbreaking treatment marking the first new option for glioma in over two decades, we’re proud to have retained the researchers and clinical development team that have helped bring this medicine from bench to bedside.
We work in an industry where innovation is a key driver of success, and our strategy is to continue capturing innovation wherever it is while remaining grounded by our core values, including a commitment to “grow by sharing” – with employees, partners and the patients we serve.
Our Integration With the Global Business Drives Success in the U.S.
Servier is a commercial-stage, privately held pharmaceutical company, launched in the U.S. by Servier Group in 2018. With the resources and network of an established global pharmaceutical company, while operating with the nimble and entrepreneurial spirit of a biotech, Servier has quickly become an oncology powerhouse built from the ground up.
Our unique operating model is governed by an independent non-profit foundation, which allows us to put patients before profits. This governance structure allows the Group to preserve its independence, guarantees a long-term vision and enables us to reinvest all our profits into a single priority: therapeutic progress to serve patient needs worldwide.
*All financial information in this section represents Servier Group consolidated figures; see above for Servier U.S. financial information.
Sustainability Is at the Heart of Our Work
Sustainability is an integral part of Servier’s strategy, and each employee is propelled by a collective mission to serve those grappling with serious diseases. Our values not only guide our daily endeavors but also fuel our sustainability initiatives that focus on our patients, our people and our communities.
We want to be a pharmaceutical company that innovates with and for patients, that is a reference in caring for its employees and that actively contributes to protecting the environment. Looking beyond the objectives that we have set ourselves and the commitments that have already been made with a view to reducing our carbon footprint and protecting biodiversity, we are also taking action to further strengthen diversity and inclusion, as well as the health and safety of employees and supporting communities.
Servier’s strategy is structured around four pillars of commitment: A company committed to healthcare, caring about people, focused on our business practices and timing for a positive footprint. To deliver on these commitments, Servier has rolled out six major programs with defined ambitions, policies and concrete actions, performance indicators and objectives that incorporate the milestones for our strategic ambitions for 2025 and 2030.
Following the launch of our 2030 Ambition, Servier is actively tracking against our goal to impact society by creating benefit for patients and making the world more sustainable.
Our Unique Approach to Partnering Helps Us Do More
At Servier, we are deliberate in how we partner. We recognize the power of co-creation to help patients with IDH-mutant cancers that defy easy answers. There are many companies with technologies and approaches to treatment that complement our areas of research, and we believe that we often can do more together than we can alone.
Our goal is to transform the treatment of IDH-mutant cancers, and we look to identify and add key strategic partnerships that help us rapidly grow and advance our oncology pipeline. In going about this, we are intentional and long term in our thinking about the right partners to help the most vulnerable populations.
Servier’s 2021 acquisition of Agios Pharmaceuticals’ commercial, clinical and research-stage oncology portfolio exemplifies our approach to partnering. It further strengthened our portfolio and pipeline in malignant hematology and set the stage for our long-term growth into the solid tumor space, culminating with the August 2024 FDA approval of VORANIGO® (vorasidenib), the first targeted therapy in IDH-mutant diffuse glioma, a malignant and incurable brain tumor.
As we look ahead, we’re focused on enriching our pipeline in oncology and neuroscience – our next growth driver – with a focus on externally sourced assets at preclinical and early clinical stages.