28 May 2020 | News
Seal of quality for outstanding corporate management
A look at vital figures makes it clear that Vetter is a very successful, globally active Contract Development and Manufacturing Organization (CDMO). Over the last ten years, the company has more than doubled its annual sales revenues to approximately 670 million euros while the number of staff members has grown to 5,000. Now, there is further proof. The family-owned company has been awarded the Axia Best Managed Companies Award. The consulting firm Deloitte, the prominent German business journal WirtschaftsWoche, Credit Suisse, and the Bundesverband der Deutschen Industrie BDI (Federation of German Industries) award the seal of quality annually to medium-sized companies that score points with a clear vision, innovative approaches, sustainable management culture and sound financial management. Due to the current situation, a small award ceremony took place at Vetter’s headquarters in Ravensburg.
In the past 70 years Vetter has developed from a local pharmacy into a leading pharmaceutical service provider in the field of injectable drugs. Today, the company, which is still family-owned, manufactures drugs for both large and small pharmaceutical and biotech companies. The medications are used for the treatment of diseases such as cancer, multiple sclerosis or severe rheumatoid arthritis and help enhance the quality of life for millions of patients worldwide. “Our success story is based on long-term corporate planning and strategy over the decades,” said Honorary Senator Udo J. Vetter, Chairman of the Advisory Board and member of the owner family. “This award goes to our employees.”
The application process for the Axia Best Managed Companies Award is extremely demanding and takes place in three-stages. A jury of experts made up of renowned representatives from business, science and the media had to be convinced in their selection. “Vetter combines strategic foresight with innovation, a sustainable management culture and solid corporate management. The exemplary management can be used as a role model for other medium-sized companies,” said Lutz Meyer, partner and head of Deloitte's medium-sized company program.
Vetter's guiding principle and top priority is to produce high-quality drugs for its customers and their patients. The CDMO is constantly working to further increase customer benefit and to optimize processes on a continuous base. The company was able to present convincing evidence in the evaluated award areas beginning with the systematically implemented strategy process Vetter Excellence 2025, a clear customer focus and well-implemented innovation management. The anchoring in everyday work is achieved through so called strategic initiatives, for example, Vetter 4.0, the aim of which is to simulate optimal man-machine processes in the ‘factory of the future’ and then put them into practice. Under the header, “Working in a digitalized pharmaceutical value chain,” the Vetter Phoenix digitization program bundles comprehensive projects such as the Electronic Batch Record.
For Vetter’s Managing Directors Thomas Otto and Peter Soelkner, winning the Axia Best Managed Companies Award is further proof that the company’s efforts have paid off. “Over the past number of years, we have continued to take advantage of new opportunities. The winning of this award motivates all of us to continue to do so.”