The Pomp Podcast
280: Cindy Eckert on Making Women Really Rich
- Cindy Eckert built and sold two pharmaceutical companies: Slate (testosterone product) and Sprout Pharmaceuticals (female sexual desire medication), the latter for $1 billion in cash upfront.
- She fought the FDA after an initial rejection, disputed the decision through the agency's appeals process, won overwhelming panel approval, and announced the $1 billion acquisition two days later.
- The acquirer ran into legal trouble, deprioritized Sprout, shelved the drug, and dismantled her team; Eckert later sued in Delaware court and recovered the company and drug while keeping the $1 billion.
- She has since invested in women-focused businesses through Pinkubator and the Pink Ceiling, focusing on disrupting the mindset of who receives venture capital and launching companies aimed at women's health and wealth.
- Eckert emphasizes company culture built on ownership mentality, hiring "misfits," and six core values: quirky, bold, ownership-minded, learner, family, and appreciative.
- She relaunched Sprout with a telemedicine model allowing women to consult doctors via video from home, with prescriptions shipped directly, ahead of industry trends accelerated by COVID-19.