PharmAust enters $2bn Aust generic medicine market

Perth-based pharmaceutical group PharmAust Ltd has been granted a licence to manufacture medicinal products by the Therapeutic Goods Administration (TGA) and aims to register and manufacture 50 low cost generic medicines by 2008.

The TGA licence, awarded to PharmAust subsidiary PharmAust Manufacturing (PAM), will open the door for the company to begin manufacturing 95 of its own therapeutic products and medicines, as well as manufacturing therapeutic goods on behalf of third parties.

Based at state-of-the-art facilities in Welshpool, WA, PAM already manufactures over 200 non-therapeutic products, such as sunscreens, cough medicines, and chest rubs.

PAM will focus on manufacturing its own suite of therapeutic products and register a suite of patent-expired (or generic) prescription medicines from its Channel Partner Xepa-Soul Pattinson. PAM's goal is to position itself as a key player in the growing Australian generic medicines market, set to be worth nearly $2 billion by 2008.

PAM is currently preparing applications to register three anti-allergy and gastro-oesophageal reflux therapeutic drugs with the TGA.

PharmAust managing director Dr Paul D'Sylva said: "PharmAust plans to register another 50 products over the next three years as a number of key drug patents expire."

Once approved,PharmAust will offer competitively priced generics in these categories, which have a combined market of over $600 million.

"By providing low cost, high quality products for pharmacists and hospitals, PharmAust aims to be one of the top five generic drug market players by 2008," Dr D'Sylva said.