Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Douglas Pharmaceuticals’ founder announces retirement as MD

MEDIA RELEASE

Douglas Pharmaceuticals’ founder announces retirement as MD – starts new business

Auckland, New Zealand February 3, 2014: The founder of Douglas Pharmaceuticals, Sir Graeme Douglas, has announced his retirement as the company’s managing director, effective February 1.

He will remain as chairman of the Board and his son, Jeff Douglas, the current chief executive, will assume the role of managing director of the Douglas Corporate Group, New Zealand’s largest pharmaceutical manufacturer.

The company has also appointed Chris van Niekerk as chief executive of the Douglas Corporate Group. Chris van Niekerk was managing director of Douglas Pharmaceuticals Australia for several years before he left to gain international experience with multi-national companies. He obtained his formal qualifications in South Africa (B. Pharm, Bsc. Hons. Pharmacology, Masters in Business Leadership (MBL) and is also a Fellow of the Pharmaceutical Society of South Africa (FPS)).

His other previous roles include: senior vice-president for Valeant Pharmaceuticals (VRX), chief operating officer and executive director for iNova Pharmaceuticals Australia, and chairman of the Board for iNova Pharmaceuticals Pty (South Africa).

“Chris has worked with us before and he has a wealth of international and relevant experience to bring to this role. He is an entrepreneurial, results-orientated, values-driven and hands-on pharmaceutical executive with a proven track record in managing and leading growth,” comments Jeff Douglas.

Sir Graeme says he believes now is the right time for him to move aside and let the company’s talented younger team lead Douglas Pharmaceuticals into its next era.

“I have complete confidence they have the experience and enthusiasm to manage the future development and growth of the total company’s activities and ambitions,” says Sir Graeme.

Sir Graeme, who turns 85 this month, says he has no intention of retiring from business. On the contrary, he is starting a new specialist nutrition company, Douglas Nutrition, which he will run independently from Douglas Pharmaceuticals. The company already has four staff and premises in Henderson, Auckland. It will produce supplements for infants, pregnant mothers, geriatrics and patients with very debilitating illness, and will particularly focus on export markets.

Meanwhile, Douglas Pharmaceuticals has appointed Employers and Manufacturers’ Association chief executive Kim Campbell as an additional Board member. Mr Campbell has had significant pharmaceutical experience in Australasia and Asia.

Jeff Douglas says 2014 will see the company continue its strong focus on expanding export markets, particularly the US and South-East Asia, while further developing its successful domestic business.

The company launches its new clozapine suspension schizophrenia treatment in the US this week. It already enjoys a 20 percent share of the US market for its isotretinoin (acne treatment) product which it launched two years ago. Douglas Pharmaceuticals has other products in the pipeline awaiting regulatory review and approval.

Founded in 1967 by Sir Graeme Douglas, the company employs 460 people marketing and distributing its products domestically, and exporting to a further 45 countries worldwide.

ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Post-Post: Brian Roche To Step Down As NZ Post CEO

Brian Roche will step down as chief executive of New Zealand Post in April 2017, having led the state-owned postal service's drive to adjust to shrinking mail volumes with a combination of cost cuts, asset sales, modernisation and expansion of new businesses. More>>

ALSO:

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news