About Kaléo

The Kaléo Way

Kaléo Pharma is a pharmaceutical company based in Richmond, Virginia. It was founded by twin brothers who suffered from serious allergies, and were forced to carry a dose of epinephrine with them at all times, which led them to create a new way to administer this dose and establish a whole new method of injection.

The company prides itself in being a “new kind of pharmaceutical company” with the intent of saving people from life threatening medical conditions. According to their website, they believe that the most knowledgeable person about how a disease effects a patient is the patient themselves. The company insists that it is patient oriented, a very smart business strategy, as our business world continues to move more and more customer centered.

The company’s mission is to “provide demonstrably superior medical products that empower you and your caregivers to confidently take control in potentially life threatening situations.” Throughout the Kaléo website, they stress patient and customer oriented treatment, as well as their deep catalog of knowledge on various medical conditions. Every product they release is a combination of a proven medicine and a new, innovative way to administer the medicine. This is meant to keep the company ahead of the rest of the industry, as well as create and discover convenient and efficient ways for the patient to get their treatment.

Along with their Mission Statement, Kaléo displays six company values, titled “The Kaléo Way”. The six steps are: Purposeful/Passionate Culture, Personal Integrity, Mutual Respect, Professional Accountability, Winning Teamwork, and Innovation/Excellence.

Some of the products that they produce are Evzio, a naloxone HCL injection used to treat depression and opioid overdoses, and Auvi-Q, a product in direct competition with the epi-pen and the cause of much controversy in regards to its affordability.

The corporate history of Kaléo, founded 2008, actually began as the corporate history of Intelliject, Inc.- the original name of the company before the switch was made in January of 2014. The reason for the name change is because the name itself is meant to align with the company’s vision and mission, as “kaléo” is derived from the Greek word for “purpose”, as the company has always stressed that their mission and goals are patient oriented.

Kaléo is a private company, therefore there is no stock information available. That being said, the pharmaceutical industry rakes in over $1 Trillion worldwide, with the North American market accounting for nearly 49%, or just under $500 Million, of the worldwide revenue. Kaléo is competitive with all of its products, so it is safe to say that they do make money- the exact amount is just difficult to say from an outside position.

 

 

http://www.multivu.com/players/English/7940951-auvi-q-epinephrine-auto-injector-comeback/

https://www.statista.com/topics/1764/global-pharmaceutical-industry/

https://kaleopharma.com

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10 thoughts on “About Kaléo

  1. The company name switch was very interesting! Even though Kaleo is derived from the Greek word purpose I find that it does not define the company well. It is shorter and easier to memorize so it will be helpful to employees but what is the purpose of the company. Their purpose could be making money or it could be helping people. With their prices they look like their purpose is to make profit.

    Liked by 1 person

    • I think you’re right, it doesn’t appear that their purpose is to make sure that customers are well served and get their best value, but rather that profits are their number one priority. I think they do want to make high quality products, as they seem to be very innovative, but are not concerned about the affordability of the product to the consumer that might need it.

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  2. It sounds like the company started off with great intentions, to be innovative and make a difference. However I think that the industry, like you mentioned, is a $1 trillion industry and somewhere along the line it became more about making money. Their name change like Rebecca mentioned was interesting because it aligned with their goals… or did it?

    Liked by 1 person

    • You pose a great question- is their purpose actually to make money rather than to serve the customers needs? I think that they want to make money and want to still be innovative because thats the only way to grow in any given industry, but just appear to care less about what it will cost the consumer.

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  3. Love the blog name!
    Although I admire the purpose of the company, I believe that their pricing is very unethical. Like you said, these are products people need to survive, and lots of people to add to that. As you mentioned in your second suggested course of action, I believe they should drop the price to a level where they still maintain a high enough profit margin, but instead expand their consumer base by making it available to more demographics and target markets. Let’s be honest, they are taking advantage of customers who view this product as a necessity to point where it’s ethically unjustifiable. What do you know about competitors in this industry?

    Liked by 1 person

    • I know that the competitors in this industry kind of have the same ideas. The pharmaceutical industry as a whole could be in ethical question at any given time, because potentially life saving drugs of all kinds are outrageously expensive, as well as having some nasty side effects sometimes. Mylan is their largest competitors, and they control a large amount of the market. They have been under fire multiple times because of their expensive prices, so it doesn’t make sense as to why Kaléo wouldn’t capitalize on that problem and keep their prices as low as they can and still make a large profit while keeping it very affordable.

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  4. ^ My apologies, that was meant for your first blog post.
    Here is my comment on the second.

    Lucky for Kaleo being a private company probably helps protect financial information that would indicate to consumers the ridiculous amount of profits they make from selling absurdly overpriced products. I think Kaleo displays their brand very effectively in this market, even though I don’t fully believe what they are saying. Their mission and vision is extremely attractive to it’s users because it emphasizes their dedication to providing the drug-user with the highest quality. However, while stressing their integrity and corporate responsibility, one would think they wouldn’t engage in selling their products at an extremely high price just because they can. Their leadership needs to understand that just because you can do something, doesn’t mean you should, especially when your core beliefs go against it.

    Liked by 1 person

    • I really like what you said at the end of your comment, regarding their leadership. I feel that far too often in our society, regardless in business or everyday life, we see instances where the phrase “just because we can, doesn’t mean we should” is applicable. You’re so right about this in this situation, when they claim their core beliefs are one thing, yet act on another because the nature of their product allows them to.

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  5. The name change is ironic but what I found more interesting is that they don’t claim to develop these drugs, or at least that isn’t their strong suit. They pride themselves on being innovative in delivering the drugs. If all your selling is the packaging, then why the hike in price? The only answer can be for greed.

    Liked by 1 person

    • What they mean by delivering isn’t packaging or shipping, but rather administering these drugs to the body. For example the Auvi-Q has audio instructions on how to administer the epinephrine, and Evzio has the same thing for the drug. This allows anyone to be able to administer this product to potentially save their life. That being said, $4,500 is not a fair price to charge for instructions.

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