TIME CONTEXT: 1978
Mr. David Generoso was a philosophy graduate of a sectarian university in the Philippines. A full scholar in 1972 of the same university, he gave up further studies on canon law after a year and decided to pursue more secular activities. He began his career in the Philippine pharmaceutical industry as a salesman in Central Luzon region. With his earnings, he married Elizabeth Reyes, a nurse and a certified public accountant and they have been blessed with 5 children.
After 5 years of combing the Central Luzon region, in 1978, 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. They have an initial capitalization of P300 with a dozen bottles from the pharmaceutical firms which they had been connected with before. They put their own labels on the products, registered it with the Bureau of Food and Drug (BFAD) and started selling. Their initial market was composed of the personal contacts. David and Rafael had made with doctors, pharmacists, and hospital administrators during their time as sales representatives. In spite of the existing salesmen representing the big pharmaceutical firms, they still persisted. David claimed that the most difficult part of the task was to encourage customers to at least try their products. But because he’s confident of the quality of their products, he believed that they will patronize them afterwards.
GPC was able to establish a good track record and a fast expansion of their customer base beyond Central Luzon region. It was incorporated in 1982 as the increased volume of operations needed a broader based management. David and Elizabeth had been able to move their operation from their residence in Tarlac to an office in Quezon City and from its initial capital of P300, GPC had total assets of P12 million that makes them a very liquid company.
David decided to study more about pharmaceuticals leading to his first attempt in manufacturing with chemicals, he succeeded and brought him additional source of income. He also wants to have their own laboratory for research and development but they do not have enough money for this so he decided to purchase pieces of laboratory equipments and stored it temporarily in their Tarlac residence. He continued his experiments and ventured into the manufacturing of cosmetics. In 1983, David made GPC as the leading indentor of raw materials in the Philippines.
On the other hand, as David has established GPC’s source network for raw materials, the management under Rafael did not go very well. They dropped their revenues and increased their receivables so David decided to go back to its operational management and luckily, the company was able to recover quickly on their financial condition. There are a lot of pharmaceutical firms in the industry but, the industry cannot still be considered self-sufficient because most of the companies rely on finished products and imported raw materials. Nobody was engaged in extracting of active ingredients from locally available raw materials that is why David faced another challenge when the American principal dropped this proposed project that intends to give heavy emphasis on applied research to extract and develop active ingredients from locally available raw materials, health foods, fibres, food supplements, and other over-the-counter products.
STATEMENT OF THE OBJECTIVES
To continue in producing quality and affordable product.
To be able to have a laboratory for GPC’s Research and Development. c.
To support the newly enacted “Generics Bill of 1988”.
How does Mr. David Generoso can have his own laboratory for GPC’s Research and Development to continue in producing quality products and at the same time support the Generics Bill of 1988?
AREAS OF CONSIDERATION
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