Genepharm plans big acquisitions spend

Published: 8-Dec-2006
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Australian generic pharmaceuticals company Genepharm Australasia has plans to spend up to A$100m on acquisitions in 2007 as it seeks to become a diversified health business with a portfolio of prescription and OTC drugs and vitamins.


Australian generic pharmaceuticals company Genepharm Australasia has plans to spend up to A$100m on acquisitions in 2007 as it seeks to become a diversified health business with a portfolio of prescription and OTC drugs and vitamins.

Its recent purchase of Douglas Pharmaceuticals delivered a portfolio of generic products and integration of the business was proceeding well.

Genepharm, which lost A$5.6m in 2005-06, was on track to be profitable this financial year, according to ceo Dennis Bastas, who said the company will reap the benefits of a move towards the use of generics as the Australian government sought to slash the costs of drugs and its exploding health budget.

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