Emerging pharma companies have key goals: Scaling fast. Staying focused on what works. Building the right culture. And they often must balance these priorities on a tight budget.
ZS Principal Jatin Rai, a leader on our products and platforms team, sat down with Ramy Maher, global commercial excellence lead at Menarini Stemline. They had a candid conversation about how emerging pharma companies can prioritize investments, build a culture that attracts talent, collaborate on global launches and more. Read below for a summary of their conversation.
Jatin Rai: Thanks so much for joining us, Ramy. For many pharmaceutical companies, especially emerging pharma companies, budget considerations are paramount. This can lead to some big decisions regarding where and how to invest. How do you approach difficult choices and competing priorities when there aren’t endless resources available?
Ramy Maher: Thanks, Jatin. It is great to be here, and I would like to make a disclaimer that all opinions expressed here are my own. To answer your question, it really comes down to focusing on the must-haves while striking the right balance between time and cost. Both are critical, especially in a startup or launch environment.
Take data and analytics, for example. We could’ve built internal teams and infrastructure, but instead we chose to work with ZS, because you’re a trusted partner with the expertise to move fast and keep costs in check. That decision saved us time and resources. And regarding the data itself, we must accept we’ll likely never attain 100% certainty before making a decision. The goal is to get enough insight to move forward confidently without getting stuck in analysis paralysis.
JR: That’s well said. I know Menarini Stemline has recently launched three products in several diverse markets. And you did it in just one year. What did that experience teach you?
RM: I have to say, I’ve never encountered that level of speed and intensity in my career. To reiterate what we just discussed, the experience stressed the importance of focusing on your must-haves. That applies not just to business fundamentals like syndicated data, research and primary market insights but also to team structure. You’ve got to be laser-focused when prioritizing the roles you hire for early on. It’s about asking, “What do we absolutely need now?” and being disciplined. Some other advice:
- Internal alignment is vital. In startup and launch mode, your team is small and misalignment can be costly. So take the time to talk, align and make sure everyone’s on the same page about big decisions. It will be worth the effort.
- Keep your key performance indicators [KPIs] straightforward. Avoid going overboard at the start of your journey. Instead, keep your KPIs simple and clear, so that your team can easily define success and hold each other accountable.
- Choose the right partners early. For example, with forecast models, it might seem fine to start with Excel, but as you grow, that won’t cut it. Bringing in experts upfront helps avoid painful changes down the road.
I also want to note some things you should avoid. Don’t cling to past experiences at larger companies, because emerging pharma is a different world. As I previously noted, don’t seek 100% certainty—get what’s good enough and move on. Don’t fall in love with your plan, because it will change. And finally, again, don’t get stuck in analysis paralysis. You’ll face mountains of data, so it’s best to focus on trends, not just numbers, and keep things moving.
JR: That’s really sound advice for our readers. I don’t want to lose sight of the fact that you launched those three therapies in several different countries. How did you standardize KPIs and forecast models in that many markets, and then roll them up for Menarini Stemline’s leadership team?
RM: One of the advantages of working in a startup is the ability to build things the right way from the start. Having worked at a large pharma company, I know how hard it is to harmonize KPIs across global functions. It takes a lot of alignment, and every market brings its own complexity. But in a startup, we get to begin with harmonized KPIs, co-created with our teams, instead of trying to force alignment later. That’s a huge luxury.
The same goes for forecast models—we don’t build them at the global level and push them down. We collaborate with countries from day one to develop them, so they’re grounded in local insights and truly co-owned. That saves a lot of time and avoids the back-and-forth we often see in bigger organizations. Honestly, this is a learning I’d share with colleagues in larger companies—start with alignment and co-ownership. You’ll be rewarded with better models, less friction and faster execution.
JR: That’s an interesting point about engaging various teams from the start. And speaking of those teams, I think it’s important to discuss the culture of emerging pharma companies. Menarini Stemline still functions as a startup with a startup culture, even in these years after Stemline Therapeutics was acquired by the Menarini Group. What’s it like to feel like you’re working at both a startup and a large pharma company at the same time, and how do you work to maintain a strong culture?
RM: At a large pharma company, culture is already defined when you arrive—there are strong values and principles everyone aligns with. Sure, as a people manager, you can bring your own flavor to your team, but the foundation is already set. In a startup, it’s different. Early on, you're running at such a fast pace, so deeply involved in operations, that culture isn't always front and center. Leadership is focused on hiring the right people and fostering alignment, but a lot of the cultural groundwork actually happens through individual team leaders.
And that’s where things get real. The intensity of startup life can be overwhelming. It’s important to create space for your team to listen, to vent and to stay focused on our shared purpose. Offering emotional space is vital.
Another thing we do is invest in coming together in person. Even though we’re spread across the globe, we make it a point to meet in person every quarter or so. And when we do, we flip the priorities. We spend a quarter of the time on business and the rest focused on connecting, collaboration and culture. That’s where a lot of trust and alignment is built.
As Menarini Stemline grows, we’re not going to stay a startup forever. The shift into a real, established business comes quickly, and that’s when culture takes on a much bigger role at the organizational level. You start to realize how important it is to maintain the right environment. Simple things, like taking time to celebrate success—especially small wins—make a big difference. You want to be vigilant about maintaining your culture as the company scales.
JR: That’s good advice for leaders at firms of any size. Of course, to have a strong culture, you need good people. It can be difficult for startups to attract talent. How have you hired so many strong performers?
RM: When building a team in a startup, I look for people who share our purpose, embrace challenges and believe in the vision. That’s the foundation. I’ve been lucky to work with an amazing team thanks to strong collaboration between HR, recruiters, hiring managers and leaders. Menarini Stemline prides ourselves on hiring people who are passionate about what we’re building.
With that said, recruitment can be tough early on. You don’t have a strong market presence, and it takes time to find the right talent. But once you launch and show early success, it becomes easier to attract great people.
One key learning from my career: Hiring is one of the most important decisions we make. Yes, cost matters. But I never compromise by choosing the second-best candidate to save 10% or 20%. Hiring someone with the right experience who aligns with your values will always be worth it. The wrong hire costs much more in time, turnover and lost momentum.
JR: I’ve also found that to be a key learning of my own career. For our final question, let’s talk about insights and how to best communicate them to senior leadership. Platforms such as ZAIDYN® certainly help with data integration and reporting, but what tips do you have for using insights to actually influence decision-makers to take actions you recommend?
RM: In a launch or startup environment, you begin with limited data, which serves as your North Star. Over time that grows into a flood of information—potentially enough data to be overwhelming. That’s why both mindset and platforms matter. You need people who can zoom in and out effectively, and platforms like ZAIDYN that enable that agility. To get leadership on board, I always focus on aligning decisions and our KPIs. And when working with probabilistic data, we often run quick pilots—usually in one country—to build a fast minimum viable product. This is a practical way to gain confidence in the data without losing time.
JR: Thanks so much for joining us, Ramy. I think you certainly have given our readers a lot to think about. We appreciate your perspective.
RM: Thanks for having me, Jatin.
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