Laboratorios LETI, S.L. is an independent, family-owned, biopharmaceutical company dedicated to medicinal research. The company is based in Barcelona and its industrial plant and allergy research laboratory are located in Tres Cantos (Madrid). It has subsidiaries in Germany and Portugal and operates with exclusive distributors in different European countries, South America and Africa. LETI closed the Business Year ending May 31st, 2005 with a turnover of more than 48 million euros, an increase of 17% compared to the previous year and a staff of 255 employees with an average age of 39, of whom 41% are graduates and doctors and 64%, women.

Laboratorios LETI’s strategy is based on innovation, quality and service in specialised market segments, with a long-term business outlook. The company’s roots lie in the immunology and biotechnology sectors and it specialises in several fields related to these sectors and to each other, with the aim of achieving balanced specialisation and diversifying risks.

The company’s objective is to obtain sustainable improvements in heath and wellbeing in its different areas of activity, paying special attention to prevention, early diagnosis and specific, personal healthcare, in addition to treatment. In an increasing affluent society, in which life expectations are longer, the active participation of all its citizens is essential in order to maintain health systems, not only in economic terms but also through self-care and prevention.

Having innovative, patented products is a key part of LETI’s objective in its international expansion strategy, enabling it to occupy leading positions in specialised market segments. For this reason, research is an activity to which we give absolute priority and to which our company has devoted between 8 and 10% of its turnover during the course of each year. Although LETI’s strategic planning in terms of R+D and the assigning of resources to the different programmes is carried out within the corporate environment, its research activity is located in business units with programmes and resources that are in keeping with its objectives and strategies. LETI’s R+D departments also carry out training activities for Spanish, German, Portuguese and South American specialists.

LETI has a parent company-based structure divided up into products and territories which consists of three business units; Allergy, Diagnostics and Vaccines and Dermatology and Personal Healthcare, and two territorial units, North and Central Europe, and Portugal, supported by two corporate departments, Finance and Administration and Human Resources. The Allergy Unit specialises in the production of allergenic extracts for in vivo diagnosis and etiological treatment of allergies. The Diagnosis and Vaccines Unit (D&V) specialises in in vitro diagnosis, culture media for assisted reproduction and vaccines. The Dermatology and Personal Healthcare Unit (DPH) is focused on the manufacturing of skincare and other, specific, personal healthcare products, all of which are sold in pharmacies and usually under medical prescription. The business units are responsible for their own production. LETI Pharma GmbH, which is based in Witten (Germany), and Laboratorios LETI S.L., based in Lisbon, are both responsible for LETI’s business in their respective territories.

Laboratorios LETI aspires to be regarded as an excellent company in which to work in the pharmaceutical sector and in the geographical areas in which it operates, as well as to have competitive staff who have earned great professional respect and can relate to the company values, strategies and objectives. Our directors and management staff are directly responsible for managing the people under their charge in their respective areas of activity, as well as for making known and applying the company’s strategy, objectives and policies. In the financial area, special attention is paid to generating free cash flows, with the support of the Department of Finance and Administration, and to the application of planning and control strategies that are in keeping with its business strategy and inspired in the integral management philosophy. The logistics and information systems and technologies division both report to Financial and Administrative Management.

Laboratorios LETI is a founder-member of Asebio (Spanish Association of Biocompanies) and the EAMG (European Allergens Manufacturers Group), in addition to being a member of Farmaindustria, FENIN (Spanish Federation of Health Technology Companies) and the BPI (Bundesverband der Pharmazeutischen Industrie). In addition, it collaborates with a great many charity organisations and funds in areas related to health and education.