HOMBRE Exclusive: Leading A Revolution In Healthcare With Novo Nordisk VP Ed Cinca
08 Dec 2019 by Francisco Romeo in Advice, Advice, Business, Career, Ego, Excercise, Fame, Finance, Fitness, Fitness, General, Health, Home, Money, Negotiating, Pleasure, Power, Products, Profile, Self Help
In the ever-changing and influential world of healthcare, Ed Cinca stands as one the industry’s most prominent leaders. As Vice President of the GLP-1 portfolio at Novo Nordisk he oversees the commercial success of multiple brands. In an exclusive interview Cinca discusses revolutionary new medicines designed to improve patients’ lifestyles, his path to the top of the industry, and important advice to climb the corporate ladder of success.
As Vice President, GLP-1 Portfolio, Cinca is responsible for a multi-blockbuster portfolio. During his 15 years at the company he has held numerous sales and marketing positions. Prior to his career in the pharmaceutical industry he worked on Wall Street in Real Estate Finance and as a consultant to large, institutional investment banks for fixed income products. He earned a BS degree in Finance from Lehigh University and an MBA in Marketing and Finance from Fordham University. Cinca has won several awards during his career and has participated in various leadership and developmental programs.
Headquartered in Denmark, Novo Nordisk is a global healthcare company with 95 years of innovation and leadership in diabetes care. This heritage has given the company experience and capabilities that also enable it to help people defeat other serious chronic conditions: rare bleeding disorders, growth hormone-related disorders, and obesity.
HOMBRE: What is your role within the company?
Ed Cinca: I’m Vice President of our GLP-1 Portfolio, that means that I’m responsible for all the commercial activity associated with our brands. And in the diabetes space GLP-1 is a high growth area. We have some of the largest, most recognizable brands within the marketplace right now. Brands which you may have heard of from TV commercials. Our next big effort is to support a successful launch for our new entry, the first oral GLP-1 diabetes medication. It’s been an ambition for over a hundred years to make injectable diabetes medications safe and effective in a pill form. Nobody has been able to accomplish this. It’s true innovation and we’re excited to lead that effort.
H: When will it launch?
EC: We received approval from the FDA in September and have recently introduced it to the market.
H: How long have you been in your current position?
EC: It’s been about three years. I’ve been with the company for fifteen years and a half, making my way through different roles. Taking some promotions, making lateral moves, even taking on roles at lower levels but it’s all led to a place where I consider myself incredibly fortunate to have the role I occupy now. It’s the best job in the company from where I stand.
H: How does it feel to have such a key position in a company that plays an important role in the health of millions of people?
EC: It’s a tremendous responsibility and something I don’t take lightly. Our objective here is that patients are fully informed about the choices that they have. I truly believe in the medicines that we make, and the value they provide patients. I see my objective as making sure that patients are receiving the best medicines available. That is our goal. To provide that level of information and education to providers and patients.
H: How is it to be part of a company that is a world leader?
EC: It’s fantastic, it’s dynamic, really exciting. I’ve always described the company as small enough to be personal, yet large enough to be powerful. It’s pretty remarkable when you realize your network extends not only within the industry outwards, but internationally, working with some fantastic people all over the world.
H: Why did you decide to leave a career in finance to enter the world of pharmaceuticals?
EC: I had an affinity for marketing all my life. After 9/11 a lot of people my age started to reevaluate the choices they made and searching for new opportunities. I was recently married at the time and decided to get my MBA concentrating in marketing and finance and while I was there, Novo Nordisk came recruiting. I had spent six years in the finance world but when I talked to Novo I felt I found a home.
H: Why was that?
EC: The organization was perfect for me. At the time it was a company that was the world’s largest manufacturer of insulin and yet they were third in the U.S. in market share and market value. When I had a conversation with management it was clear that their ambitions were to be number one in market share and value. I consider myself entrepreneurial and for me that was important. Knowing that they had a desire to go big and be a market leader, I really wanted to join the company and was happy when I got the offer. Needless to say, it’s been a good match.
H: What have been some of your toughest challenges?
EC: Almost always it comes down to communication. Communication is the sister of strategy, you can have the greatest strategy but if people don’t understand it, we’re not going to be able to execute on anything. For us it became important that we have strong communication up and down, and throughout. I don’t have responsibilities for functions outside of marketing but I have the responsibility for the success of our products. I have to work very closely with all our teams. You’re playing the role of the conductor. You don’t play an instrument but you have to be sure that everyone is playing together and harmonizing in a way that is going to be successful.
H: What are the plans for the future of the company?
EC: We’re excited in the short term. The oral version of GLP-1 is a major breakthrough. There is going to be a lot of attention with the fact that we now have that available for patients. In the mid to longer term there is what we describe as adjacency and other utilization in the GLP-1 space and we’ll start evaluating that. Our company has clinical programs in place so we can support other therapeutic needs, as that goes on then we begin the work.
H: What would you say has been your key to success?
EC: For me it’s been about perseverance and hard work. I think that’s true for anyone in any industry. Then it’s having a long-term vision and establishing your own personal goals and working towards them.
I wanted to be in a place where my ideas would be embraced. It was fantastic to find a place like Novo Nordisk because it was important for me to be at a place that is meaningful, and to work at a company that is committed to help patients live better lives.
H: What advice do you have for those entering the workforce, or those at a mid-level position wishing to rise within their organization?
EC: Look long term and be really clear about what you want for yourself later, much later, and being really clear about why. It’s not something you have to commit to but it’s a guidepost to know what direction you’re headed in. If you’re clear about your long-term vision you feel more comfortable with making short term moves. People sometimes think what I want to do next year, what I want to do in three years and that is important, but you have to be sure that it is not only about fulfilling a short term want but instead helping you in preparing for a long-term vision.
H: How did you apply this philosophy to your career?
EC: For example, I aspired to be the Chief Marketing Officer for our company and when I think about the position I think about what responsibilities I would need to accomplish that, what experience would I need to support me in that role. And then I work back from that job. How do I prepare for a senior vice-president role, how do I prepare for a vice-president role, how do I prepare for a senior director role…
As I was going through these things early in my career, one of the areas I recognized is that I needed to strengthen my knowledge of people management. If I’m going to be a leader for a larger organization I’m going to need to manage a group of people. I committed myself to getting jobs like that even-though it meant that as I was climbing the ladder in marketing I took a step down, actually two levels down to work in our sales organization so that I could be a district manager.
It’s a little scary when you’re doing that because there are no guarantees, but what gave me confidence is to know that regardless of how that played out, the experience was going to be invaluable for me in the long run.
H: How has your Latin background influenced your career?
EC: A lot. Especially this idea of having an entrepreneurial mindset. My background is Cuban. In my family I’m one of the few that worked for a large corporation, everyone has their own businesses, everybody is out there hustling, and that is the way I was raised. In this country you can do what you want and make yourself a success. That mindset is something that has driven and propelled me.
H: Going back to family, what is the best advice your parents gave you?
EC: From my mother it was always to pursue an education, and to establish yourself. My parents were wise enough to know that no matter how hard you work, without your degree it’s going to be very difficult to establish yourself in an American society. My mother was always pushing and sacrificing a lot to make sure we had the best opportunities we could afford.
And from my father it was always that idea of driving that ambition, setting those goals and thinking big. It’s amazing when you talk to him and my uncles, the way they see the world and opportunities it’s pretty fantastic. I say sticking with your dreams and living your dreams.