GENEROSO PHARMACEUTICALS AND CHEMICALS, INC
1978 and in 1988 - GPC engage in the contract manufacturing of pharmaceutical products for both the domestic and export markets and the Generics Bill came in. SUMMARY / ABSTRACT
This case examines the management of Mr. David Genereso in the GENERESO PHARMACEUTICALS AND CHEMICALS, INC to become a productive and successful company.
Mr. David Generoso was a philosophy graduate of a sectarian university in the Philippines. He began his career in the Philippine pharmaceutical industry at the Central Luzon Region. He married Elizabeth Reyes, a nurse and certified public accountant and they have been blessed by 5 children’s.
David established a company called Generoso Pharmaceuticals and Chemicals (GPC) with Elizabeth and a business associate Mr. Rafael Buenaventura, the team set up shop at the Generoso residence in Tarlac. An initial capitalization of P300 started the business with a dozen bottles from the pharmaceutical firms which they had been connected with before. GPC was able to establish a good track record fast and its customer base expanded beyond the region. David and Rafael had to hire extra hands to peddle their goods: 2 sales representative in1978, 5 in 1979, 12 in 1980, 25 in 1981, 53 in 1982, and 75 in 1983. From its initial assets of P300 in 1978, GPC had total assets of P12 million in 1983which consisted of a dozen vehicles, a few pieces of real estate in the Central Luzon Region, an office, a modest amount of inventory and cash.
Elizabeth initiated GPCs reorganization to control over different product lines, which by the year 1988 was composed of several subdivisions: Pharmaceutical Distribution Division, Agrovet Division, Cosmetics Division, Raw Materials Indenting Division and the Contract Manufacturing Division. As of 1988, there were 32 large-scale pharmaceutical laboratories in the Philippines, most of which manufacture only their own brands and/ or...