Genepharm Australia signs major distribution deal for generic drugs
Melbourne-based drug company Genepharm Australia has signed a deal with three major local distributors, Mayne, Sigma and Australian Pharmaceutical Industries, to sell a number of generic drugs that will be introduced over forthcoming years.
Melbourne-based drug company Genepharm Australia has signed a deal with three major local distributors, Mayne, Sigma and Australian Pharmaceutical Industries, to sell a number of generic drugs that will be introduced over forthcoming years.
The 18 drugs that Genepharm wants to manufacture are under patent and will remain so until at least the end of this year.
Genepharm is an offshoot of Greek-based Genepharm SA, which retains a 47% stake in the company.
There are five generic drug manufacturers in Australia, which control the market. Alphapharm is the major player, with about 67% share, followed by Arrow with 18%. The remainder is shared between Hexal, Douglas and Genrx.
Genepharm ceo Dennis Bast has predicted his company will control about 10% of the market in the short to medium term.
The announcement came as the associated Geelong-based ChemGenex revealed it had signed a deal with Swiss giant Stragen Pharma to fast track the development of its anti-leukemia treatment Ceflatonin.