Generoso Pharmaceuticals and Chemicals, Inc.
TIME CONTEXT: 1978
SUMMARY:
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.
SUMMARY:
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.