Aug 19, 2011Date: Friday 19th August 2011
Time: Presentation – 4.30pm. Followed by drinks and nibbles
Venue: Reception Lounge, Main entrance of Thomas Building, 3 Symonds Street.
Speaker: Sir Graeme Douglas – founder, owner and Director of Douglas Pharmaceuticals
Title: The Generic Guru The Douglas Pharmaceutical story is one of adaptability, independence, adaptability, business strategy, and adaptability ... and loyal relationships...and excellent technical skills.
It is with great pleasure that we welcome Sir Graeme Douglas – founder, owner and Director of Douglas Pharmaceuticals – as the guest speaker for the next Bioscience Enterprise forum.
According to Sir Graeme, many people vastly underestimate what is involved in the production of generic medicines. He is referring to the necessary combination of planning, technical skill and financial resources. Add to that understanding Douglas Pharmaceuticals’ sought-after specialisation in the production of high containment, high potency and sometimes toxic drugs and you get some insight to this company’s success.
Set up in 1967 as an importer and distributer of pharmaceuticals, Douglas Pharmaceuticals now has an annual turnover of $150 million, derives 60% of its income from exports, employs 460 personnel – and is debt free. This impressive status is due in no small way to Sir Graeme’s response to challenge.
When NZ law restricted pharmacists to only one shop, Graeme set up his own import and distribution company. Introduction of huge tax penalties on imported goods? – Sir Graeme set up his own manufacturing plant (and an association with Sir Ray Avery for quality control). NZ law prevents even the development of drugs pre-patent expiry? - develop an R&D unit off-shore. Pharmac policy leads to huge loss of contracts? – expand the export market – a lot!
Please join us to gain further insight to this inspiring story direct from ‘the horse’s mouth’.
All welcome. RSVPs to Margot Bethell for organizational purposes would be greatly appreciated. Please email firstname.lastname@example.org or phone (09) 373 7599 ext 89625 or 0274 305 758.