First Pharma doubles its pipeline
and takes further steps to accelerate growth
First Pharma confirms another step in its growth strategy with the acquisition of the assets of Luminarie, an Australian and NZ pharma group. Luminarie was established in 2015 and grew through new partnerships and expansion of its product pipeline. Recently appointed CEO for First Pharma, Justin Ooi, had reviewed the Luminarie assets and the team, concluding they were a strong fit for the future of First Pharma. “We have a number of great, novel products in our current and future portfolio, and by adding Luminarie’s differentiated portfolio and pipeline we strengthen our market position and trajectory for growth”.
Troy Guthrie, First Pharma Founder and Managing Director, will lead the operations of the company. Troy stated that “we are launching line extensions of Dermascar and Excilor today, and we have further new brands from Luminarie to launch during 2017 which will require significant investment in resources. We have a strong plan in place to execute effectively, and the backing of our investors to ensure we do it right. Market acceptance of our new brands has been high and we are projecting sales to reflect that”.
First Pharma currently sells Excilor and Dermascar, with new launches of Allpresan (diabetic foot) and Hydrocore (dermatology) later in 2017. Luminarie brings to First Pharma Dexem Repair, Poxclin and Nozohaem, with future products in the fields of pain relief, sleep and snoring.
The addition of the Luminarie portfolio thus doubles the First Pharma pipeline. Asia expansion is also part of First Pharma’s growth plans, and that has now been formalised with a new distribution contract recently signed for Dermascar into SEAsia, Hong Kong and Taiwan. Justin, recently returned from 6 years in Singapore as Regional Finance Director for AstraZeneca, stated that “Asia is not easy to crack, however we have the contacts, experience and the team to make a success of these exciting markets. We now have distribution contracts in New Zealand and Asia with experienced partners and we are confident of added growth from these areas.”
First Pharma are a value driven investor in the health of consumers in Australia and Asia Pacific. Backed by investors with significant experience in the Pharma Industry, First Pharma are seeking to expand through organic growth, acquisitions and licensing. First Pharma has extensive experience in managing all aspects of commercialisation, including sales and marketing, regulatory, pharmacovigilance, manufacturing, warehousing and distribution.