Farmaforce set for listing
October 26, 2015
Pharmaceutical contract
sales organisation Farmaforce is
expected to make its debut on
the Australian Securities Exchange
this week, after raising more
than $5 million to “accelerate the
implementation of the company’s
business model”.
In operation since Jan 2014,
Farmaforce promotes its clients’
products to healthcare professional
customers such as GPs, specialists
and pharmacists, and says
that pharmaceutical industry
consolidation is a key driver for its
business model.
In particular the increase in
generic drug competition due to
a high rate of patent expiries is
“forcing pharmaceutical companies
to move towards a greater
reliance on outsourcing of various
traditional functions in order to
streamline operations and improve
operating efficiencies”.
As well as services visiting
doctors, Farmaforce offers nurse
and pharmacy teams, concentrating
purely on a small portfolio of
products seeking to maximise
exposure within a pharmacy “with
product positions that are more
noticeable and accessible for
pharmacy clients,” the company’s
prospectus says.
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