Kindred Spirits - Single Malt Scotch and Pharma?

However, you may be surprised to learn that there are a large number of similarities between the two industries.

Scotch was first developed by the Egyptians in 3rd Century BC for medicinal purposes. It originated as distilled alcohol which then became Aqua Vitae - the water of life. Additionally, the first European distillers were Monks who distilled alcohol for medicinal purposes.

It’s rumored (by the Irish) that the Irish invented whisky as it was believed to have been 1st taught to the Monks by St Patrick and then brought over to Scotland (Islay) by the MacVey’s, physicians traveling as part of the wedding party of an Irish Princess who was marrying Angus Og MacDonald, Lord of Islay.

Be this as it may, as my Irish friends are tired of hearing, they may have invented the nectar of the gods but us Scots perfected it!

The 1st license to produce aqua vitae in Scotland was granted to the Guild of Surgeon Barbers the precursor to the Royal College of Surgeons of Edinburgh in 1505 for medicines. Aqua Vitae officially became Whisky in 1715.

The master Scotch distillers leverage a surprising amount of science and tradition to deliver a consistent, unique, high quality product, much as the pharmaceutical industry designs and develop new medicines, advancing its impact by building on the learnings of those who came before.

Although single malt is thought to be distinct from blended scotch, it is actually blended by the master distiller from different casks within the same distillery who’s skill is in ensuring a consistent product time after time. A parallel could be drawn here with the manufacturing and quality folks in Pharma who also ensure a high quality product batch after batch.

Both industries suffer from the need of significant investment and a long (20-30 years) product lifecycle before any return is realized. Scotch requires it to ensure consistency as well as depth of efficacy and flavor, Pharma to ensure consistency plus depth of efficacy and importantly, safety.

Both industries produce products that help people feel better, although for optimal benefits both should be utilized as prescribed by a qualified professional (e.g. your physician or master distiller).

The whisky industry suffered from restricted access to the lucrative US market during prohibition a similar issue faces the pharma industry today with payers implementing increasingly aggressive access restrictions. The scotch industry was able to reduce the impact by circumnavigating Government controls, ie; via Canada and the Caribbean, whereas somewhat ironically, the US government has recently advocated for shipping in medicines from abroad.

Both industries have suffered from negative PR , although they both improve quality of life. Negative PR associated with marketing practices of Scotch caused Pattinsons of Leith (Edinburgh) to go bust in the 1890's significantly deflating what had during the previous decade been the 1st Scotch whisky boom.

However, due to more recently utilizing appropriate marketing practices, starting in the 1990’s, Single malt whisky is now one of the top performing alternative investments, even ahead of wine...and while Pharma may not always be the best performing investment, it is usually a significant part of any balanced investment portfolio.

So, when you next enjoy a single malt or 2 and have to reach for the Tylenol the next morning just remember the uncanny similarities between both industries and that you’re benefiting from a common commitment to history, craft, dedication and quality!

Slainte