Douglas Pharmaceuticals

Douglas Pharmaceuticals
Privately held
Industry Pharmaceuticals
Founded 1967
Founder Sir Graeme Douglas
Headquarters Auckland, New Zealand
Number of locations
 New Zealand and Fiji (manufacturing), Singapore (Asia-Pacific office), United States
Area served
 Worldwide
Key people
 Sir Graeme Douglas, Jeff Douglas
Products Consumer products
Revenue NZ$143m[1]
Total assets NZ$80m[1]
Number of employees
 450[1]
Website Douglas Pharmaceuticals

Douglas Pharmaceuticals Ltd is a New Zealand-based manufacturer of pharmaceutical products.

Founded in 1967 by West Auckland chemist Graeme Douglas,[2] the company started out distributing prescription medicines, before manufacturing and later successfully researching and developing its own products for export.

History

Douglas Pharmaceuticals began when founder, Graeme Douglas, created a cough syrup called Kofsin, while working as a chemist in Te Atatu, West Auckland. As demand for the cough syrup grew, the company contracted manufacturing chemists to maintain enough supply. Afterwards, the company began importing niche pharmaceuticals and packaging them at Douglas's chemist shop before distributing them to other pharmacists. In the early 1970s, Douglas's chemist shop had over $2 million in revenue when he sold it to focus on the pharmaceutical business.[3]

By the late 80s, Douglas Pharmaceuticals was selling over 40 products and had a revenue of $25 million, which increased in ten years to more than $70 million.[3]

In 2012, Sir Graeme's eldest son Jeff began handling much of the day-to-day running of the company. In 2014, Graeme Douglas stepped down from the company's day-to-day business, and his son Jeff Graeme became managing director of the company.[2][3]

As of 2016, the company employed more than 450 people and manufactured products sold in 35 countries.[3]

Founder Sir Graeme Douglas died on 1 September 2016.[4]

References

  1. 1 2 3 Douglas Pharmaceuticals - Fast Facts
  2. 1 2 Michele Hewitson (2012-06-12). "Michele Hewitson Interview: Sir Graeme Douglas". New Zealand Herald.
  3. 1 2 3 4 "Pharmaceutical pioneer Sir Graeme Douglas dies". Stuff. Retrieved 2017-10-16.
  4. ↑ "Sir Graeme Douglas, the founder of Douglas Pharmaceuticals, dies". New Zealand Herald. 2016-09-02. ISSN 1170-0777. Retrieved 2017-05-23.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.