Richard Chin, M.D., is Founder and Chief Executive Officer of Kindred Biosciences, Inc. Dr. Richard Chin is a Harvard-trained physician and a former Rhodes Scholar with a track record of almost a dozen drug approvals and over 50 INDs. Dr. Chin has developed several drugs for immune diseases, including Lucentis, Xolair, Tysabri and Rituxan.
These products have yielded over $10 billion in sales per year. Previously, Dr. Chin was Head of Clinical Research for the Biotherapeutics Unit at Genentech, where he oversaw Genentech’s drug development programs; Senior VP of Global Development at Elan; CEO of Oxigene, a Nasdaq-listed biotechnology company; and CEO of OneWorld Health, a Gates Foundation-funded nonprofit developing drugs for impoverished patients in developing countries. In 2006, BusinessWeek named Dr. Chin one of 99 youngest public company CEOs in the United States.
In his exclusive 2,869 word interview with the Wall Street Transcript, Dr. Chin details his company’s upside for investors in the near future.
“Over the coming years, once the plant reaches maximum capacity, we expect to have enough manufacturing capacity for our deep pipeline. It is quite large. The reasons why we are doing this are several.
One is that the technology is so new in the veterinary space; there really aren’t companies out there that can do contract manufacturing for us.
And number two, this is a pretty complicated undertaking, and we have a highly experienced biologics team. We believe that we can do this more efficiently than anybody else, so it makes sense for us to do it in-house and have this significant cost-of-goods advantage.”
Dr. Chin enjoys a robust risk reward ratio on his drug development investments:
“I was on the human development side for a long time. And on the human side, it costs about $1 billion to develop a drug, and a blockbuster generates revenues of about $1 billion a year.
For Kindred Biosciences, the cost is about $5 million to $8 million. So literally about 100 to 200 times less, but the blockbusters generate about $100 million in annual revenues. So at one-100th the cost, we can access markets that are one-tenth the size. The ROI for every dollar is really attractive, so that is why we want to keep on investing in R&D.”
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