BioTech Capital to invest in Generic Health Pty Ltd

Melbourne, Australia – 19 November, 2007; Generic Health Pty Ltd, an Australian owned and operated, generic pharmaceutical company announced an agreement with BioTech Capital Ltd (BTC), one of Australia’s largest life-science investment funds, to invest $2.2 million into the company.

BTC is listed on the Australian Stock Exchange (Code: BTC) and is managed externally by Titan BioVentures Management.

BTC currently has investments in a diverse group of Australian life-science companies including Alchemia, Biocomm, Continence Control Systems, Neurodiscovery, Pacific Knowledge Systems, Phylogica, Sensear, Starpharma, Stem Cell Sciences and XRT. 

Additional information can be found at www.biotechcapital.com.au

Gavin Upiter, CEO of Generic Health commented:

“We are proud to have attracted one of Australia’s leading life-sciences investors to Generic Health. BioTech Capital’s investment supports our position as a low cost, pharmacist friendly supplier of high value, high volume medicines.

The growing support for our products from pharmacists Australia wide illustrates the acceptance of the Generic Health model. As our product range expands we will continue to offer pharmacists attractive prices across a range of high value molecules.”

The investment by BioTech Capital Ltd will be used to continue the growth of Generic Health’s product portfolio and in particular the release of high value, prescription pharmaceuticals upon patent expiry

Currently, the total market value of drugs sold by Generic Health approximates $500 million or 40% of the total value of the Australian market for patent expired drugs. Generic Health will launch a number of key products between 2008 and 2013 upon patent expiry to fulfil the company’s plan of presenting a high quality, low cost range of generic drugs representing 70% of the total value of the patent expired drugs market.

About Generic Health

Established in 2004, Generic Health Pty Ltd is an Australian generic pharmaceutical company specifically created to provide greater competition in the generic pharmaceutical market and increase the profitability of pharmacies in Australia. The company is fast emerging as a true alternative to the Generic establishment in the industry, with its expanding portfolio of high-volume generic pharmaceuticals sourced from world leading manufacturers at low, stainable prices. The company’s simple business model allows every Australian pharmacy, no matter their size or location, the opportunity to buy quality generic pharmaceuticals at globally competitive prices.

Pharmacy and media enquiries contact:

Gavin Upiter
Managing Director
Phone + 61 3 9809 7900

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