Anne Sullivan T'95
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"For a long time we were called the buccaneers of the industry. "
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Combining Business and Science
In 1994, Anne Sullivan dubbed the half-dozen Tuck students who shared her interest in healthcare "the few, the proud." Banding together on group projects, they tapped into the medical school and Tuck alums in the healthcare industry for help.
Now, when Sullivan, a pharmaceutical executive, guest-lectures in Professor Don Conway's healthcare issues class, more than 70 students squeeze into the classroom in Tuck Hall. "Even those who want to be bankers and consultants are interested," she says.
Indeed, as healthcare expenditures have climbed to 16 percent of U.S. GDP, companies like Sullivan's have seen eye-popping growth. In her 10 years at Sepracor, Inc., revenues have grown from $17 million to $1.2 billion, bolstered by sales of Lunesta, the no. 2 branded insomnia drug in the U.S. Employees have increased eightfold, from 300 to 2,500.
As executive director of business development, Sullivan plays a pivotal role, especially given Sepracor's evolution. Sepracor's pharmaceutical efforts were originally focused on the development and commercialization of potentially improved versions of widely prescribed drugs. These improved chemical entities (ICEs) were proprietary, patent protected, single isomer or active-metabolite drugs offering meaningful improvements over existing therapies via reduced side effects, increased efficacy, improved dosage, and/or additional indications. "For a long time we were called the buccaneers of the industry, but we were just doing the last step of R&D that companies could and should have done," Sullivan says.
The Marlborough, Mass.–based business has become a full-fledged pharmaceutical company focused on respiratory and central nervous system disorders, with a bustling research pipeline and burgeoning sales force. Sullivan's department pursues the corporate alliances that make that happen— the licensing in or out of technology, patents, compounds, and products; partnering with other pharma to develop or sell a drug; and acquiring products and companies. Among her recent accomplishments: the $70 million acquisition of Oryx Pharmaceuticals, a Canadian company that gives Sepracor its first sales-and-marketing force outside the U.S., and a $155 million agreement allowing GlaxoSmithKline to sell Lunesta throughout the world (excluding North America and Japan). "Every deal is different—every day is different," she says.
As a freshman chemistry major at the College of the Holy Cross in Worcester, Mass., Sullivan's "clumsy tendencies"—she spilled nitric acid over her favorite rugby shirt during a chem lab—made her think twice about a medical or research career, especially when her three older sisters left labs for business jobs. She switched to accounting and worked for KPMG for several years until a medical-devices client illustrated to her how to combine business with science.
At Tuck, she seized the chance to talk at a reception with overseer Paul Clark T'71, president of the pharmaceutical division at Abbott Laboratories at that time, which led to an internship there. She joined Abbott after Tuck, working for three years in sales, forecasting, and marketing before moving to Sepracor, where she steadily worked her way up. "This industry absolutely intrigues me and brings me alive," she says.
Sullivan, 42, who lives in Boston, relaxes by going to the symphony, skiing, and playing tennis with friends, and taking beach vacations with her extended family. Her advice to Tuck students: "Think ahead in 5- and 10-year increments. You can make most functional changes happen within 5 years, and you can jump or master an industry in 10. Decide what you are really passionate about and lay out your road map."
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