New Relationship to Service Retail Pharmacy
Wednesday October 28, 2009
New Relationship to Service Retail Pharmacy
Pfizer Australia's Established Products Business Unit (EPBU) announced today that it has entered into a distribution and services agreement (Agreement) with Genepharm (Australia) Limited (Genepharm) to promote and sell the full range of Pfizer's established off-patent medicines to Australian pharmacies. The Agreement represents a significant market initiative for the sale of Pfizer's off-patent medicines via Genepharm's marketing and sales force Australia wide.
Genepharm is a subsidiary of Ascent Pharmahealth Limited which is one of Australia's fastest growing independent generic companies.
Mr Mark Crotty, General Manager Australia and New Zealand, Pfizer Established Products, said "It was a logical step to engage an experienced and professional generic company such as Genepharm to promote and distribute Pfizer's off-patent product range to pharmacy." He added "Pfizer is proud of having many iconic and trusted off-patent brands. It is important to us to work with an independent partner that has an established presence and existing relationships in the retail pharmacy market".
Under the Agreement, Genepharm will:
- promote and distribute Pfizer's off-patent branded medicines to pharmacies via Genepharm's direct distribution; and
- promote and sell a number of branded generics of Pfizer medicines.
All of EPBU's off-patent products will continue to be available via the wholesalers and Pfizer Direct.
About Pfizer Australia
Pfizer Australia is the nation's leading provider of prescription medicines and animal health products. For over 50 years, Pfizer Australia has partnered with Government, healthcare providers and local communities to expand access to our medicines and to provide better quality health care. At Pfizer Australia about 1,700 staff work every day to help Australians stay healthier and happier longer and to reduce the human and economic burden of disease. We develop, manufacture and market quality, safe and effective prescription medicines to treat and help prevent disease in both people and animals.
About Pfizer's Established Products
Pfizer's Established Products Business Unit was created in 2008 to provide underserved patients with affordable medicines characterized by Pfizer's reputation for quality, safety, and innovation. Established products are medicines that have lost patent exclusivity or are close to losing their exclusivity. Pfizer has more than 380 established products. The Established Products Business Unit's broad product portfolio, capabilities in reformulations and low cost manufacturing position it to become one of the world's top pharmaceutical players in the post-LOE market place.