Where Are They Now: Graham Wylie, executive chairman of Medical Research Network

The LDC Top 50 Most Ambitious Business Leaders programme has celebrated more than 300 exceptional individuals since its launch in 2018. In this series, we reconnect with some of our alumni to find out what happened next in their growth journey, the impact of being part of the programme, and their ambitions now.

Ex Pfizer exec Graham Wylie launched Medical Research Network in 2006, disrupting the market for clinical trials. MRN specialises in offering “hybrid” trials – where patients can be seen either at home or in a clinical setting. “We are a one-stop shop,” Wylie explains. “We help pharmaceutical companies run trials effectively, at speed, with a clear return on investment.” Wylie featured in The LDC Top 50 back in 2022, when the business had done 80,000 home visits. Today, that number stands at close to 110,000. He says: “The past two years have been challenging for the industry, but we are profitable and investing in growth.”

How has the business fared over the past two years?

A forest fire has raged through clinical research, post-Covid. Many trials were cancelled or put on hold. It’s been totally unprecedented. Many of our competitors have gone out of business but we have managed to cut costs and ensure that we remain profitable. Next year, the forest will start to grow once again, and we have positioned ourselves well for that moment. We are here and ready to rock.

What’s so special about MRN?

We are a people business, but we also have our own in-house technology, which means we are a one-stop shop. It can cost up to £2.5bn to launch a new drug, and patents only last so long. We deliver trials in a cost-effective way, and we measure and report back on how much value we deliver.

Tell me about your growth strategy?

We have diversified our business into four different units, all based around clinical trials, and are now investing in M&A. We made an acquisition in 2023 and will do more this year and next. We buy smaller business and give them access to our resources to help them scale. When markets are flat you have to find other ways to grow and we are focused on vertical integration.