Issue link: https://www.e-digitaleditions.com/i/276262
Tablets & Capsules March 2014 23 products to market. "Your reputation and your capability become paramount, and because people knew that I basi- cally had Burroughs Wellcome's technical development team behind me, I was able to build our company," Hodges said. "After Glaxo bought Wellcome, I hired 25 former Burroughs Wellcome technical development peo- ple over the next 2 years. It was the core of our business." From there, Metrics moved into small-scale develop- ment and manufacturing of pharmaceutical products for use in clinical trials. By this time, the company had run out of space. "It took me 3 years to design a facility, get the bank to agree on it, and then go find investors," Hodges said. "I spent every dime I had buying equipment." Metrics eventually custom-built approximately 100,000 square feet of workspace, which now includes an industry-standard containment suite for highly potent products. "It felt a little like we were the Clampetts mov- ing to Beverly Hills, because we had all this space and could finally spread out and start growing the business. At the same time, we had clients we had done some spec- tacular work for, and they kept coming back to us. We had all the business we wanted." In 2004, Metrics ventured into generic products— both making and selling its own as well as partnering with a manufacturer. According to Hodges, success in generics depends on reverse-engineering formulations, which requires strong analytical expertise. "Well, guess what I had? Great analytical people. That has always been our strong point." Controlled substances are another logical profit center for the company. "You don't have to compete with the companies in India or Asia there, because controlled sub- stances can't be imported," Hodges said. "You just have to compete with people in the USA. Plus, controlled sub- stances themselves are difficult to deal with. You need a lot of controls in place, and we have those." As he settles into retirement, Hodges said he takes pride in a number of Metrics' accomplishments. The company now employs more than 300 people. It has enjoyed double- digit revenue growth most years, and has been profitable every year since 1995. "To this day, our culture is one in which people want to do the best they can to help our clients get a product ap - proved," he said. "Everything is done the right way. We have that reputation and people are eager to work here." In late 2012, Metrics agreed to be acquired by Mayne Pharma Group of Australia, expanding the company's reach into the global marketplace. "When we decided to sell the company, it was important to me to keep the development business strong," Hodges said. "That's what I loved about the Mayne Pharma deal. They really got it. They really understood what we've been doing here. With Mayne, we got the strategic buy that made us part of a bigger operation and the site here at Metrics continues to have growth potential. We're a great niche generic player and, at the same time, we're keeping our focus on our fee-for- service business. I'm delighted that our company's new managers are taking Metrics to its next stage of growth." Hodges retired from Metrics in December 2013, but continues to serve on the board of directors at Mayne Pharma. "I get to keep a hand in the business and I get to go out and try new things," he said. "I'm part of some vir- tual pharma operations that are using companies like Metrics to develop products. Post-retirement is fun so far. I've been so wrapped up the last few years, I look forward to actually having a little spare time to go fishing." T&C 1994 Metrics founded as a contract analytical laboratory. Including Hodges, Metrics has four employees. 1998 Expands into pharmaceutical formulation development. 2000 Moves from rented facility and into custom-built 44,000-square-foot facility. 2001 Grows from 55 employees to 86 employees by year's end. 2004 Expands into generics manufacturing through Coastal Pharmaceuticals subsidiary. 2006 Employs 200 people. 2008 Opens 52,000-square-foot addition with four new analytical laboratories and a microbiology laboratory. 2009 Opens cGMP facility dedicated to handling potent and cytotoxic substances. 2009 Completes 100th "first-in-human" project. 2010 Launches "man-in-the-plant" MetricsVision, allowing customers to securely log in and supervise their projects remotely in real time. 2011 Workforce reaches 280. 2012 Acquired by Mayne Pharma Group of Australia. Metrics milestones "When we decided to sell the company, it was important to me to keep the development business strong." e-Hodgesart_22-23_Jasper Art5.0 #11 3/5/14 10:07 AM Page 23