Company Profile

Generic Health has been under development since January 2003 and was incorporated in September 2004. The company was created for the purpose of providing low cost, high volume pharmaceuticals to Australia’s pharmacies.

The opportunity stems from the emergence of two trends:

• A growing generics market and;
• The increasing ability of low cost pharmaceutical manufacturers to meet the stringent quality standards of the Australian regulators.

Extensive customer surveys were conducted during 2004, confirming a market need for greater competition amongst suppliers of generic medicines to push generics in the country – primarily to ensure that high quality remains synonymous with low cost.

Generic Health’s recent acquisition of Australian Pharmaceutical company Bellwether has strengthened the existing product range, as well as increase the company’s distribution network.

Supply agreements

The Company has entered into supply agreements with foreign manufacturers to supply drugs at globally competitive prices.  Generic Health has an emphasis on supply chain integrity based on the extensive experience of its management in the areas of pharmaceutical development, pharmaceutical manufacturing, logistics, quality assurance and the Australian regulatory environment.

Leadership

Generic Health recognizes the importance of an experienced and strong Board of Directors to guide the company. The Directors appointed include pharmaceutical industry participants, medical industry professionals and successful private equity investors who together provide strategic support to the CEO. Significantly, all Board members have made substantial investments in the Company clearly supporting their belief in the Company’s potential.

Financial backing

Generic Health is funded by private equity investors, many with close ties to the pharmaceutical and healthcare sectors. Capital has been raised at various stages to fund product registration activities and business operations. Further capital raising may be required as additional opportunities arise. The Company’s corporate advisors are Farrel Meltzer and Joel Beebe at Wingate House Pty Ltd.

Wingate House is a leading Melbourne-based private investment banking firm that uniquely focuses on its investor-client needs for new investment opportunities and its business-client needs for new capital and transformational solutions.

Industry reforms

The Government continues to push for further reforms to reduce the Governments spending on the PBS. Generic Health is well placed as a low cost supplier to support government initiatives to reduce their spending while maintaining or improving pharmacy margins on key generic medicines. The company's aim to “lower the cost of good health” applies equally to Government and end consumers while supporting the viability of the existing community pharmacy network