Company Interview Excerpt
ERWIN R. BOUWENS – GENMED HOLDING CORP. (GENME)
Full article published: 06/01/2009
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TWST: Would you start with a brief historical sketch of the company and a picture of the things you're doing now?
Mr. Bouwens: De Witte Raaf is a medical health company. I founded it in 2000. Normally what we do is we bring physicians to larger companies to check their apparatus. With this group of people we have in house, former advisers of the Ministry of Health, we started up a generic drug company. Genmed is a distributor of generic drugs. We started registering the first generic medicine about four years ago. We will have the license at the end of the second quarter of 2009, which allows us to start selling this medicine within seven countries of the European Union. So the first thing we did was to obtain a license, and that takes about four years here in Europe. We contracted a big factory, Atabay. It's the third biggest in the world. We contracted them and we asked them if we could make doses on their generic drugs for Europe. That was about four years ago. The last audit, which is an audit by the Irish authorities of the production plant, which is part of the EU registration, comes in May of this year, 2009. After a successful audit, we will be fully licensed, I think around June or July 2009. We expect to start selling in the last quarter of 2009. We already have a lot of offering requests, so the sales department is already busy at the moment. The offering requests are totaling an approximate amount of around US$120 million at the moment. We will not sell only within Europe, but we will also sell in South America and Africa and other parts of the world. But most of all, we'll concentrate on Europe. On April 17, 2008, Genmed Holding acquired the Dutch operating company.
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