R.A. Williams launches Iracet, generic anti-epileptic drug, promises 21 new additions to prescription portfolio

 

R.A. Williams Distributors (RAD) Limited, for the third quarter ended January 31, 2025, reported rising revenues for the quarter which totaled $438.9 million, up from $380.8 million in the same period last year.

RAD, listed on the Junior Market of the Jamaica Stock Exchange in 2023 is a pharmaceutical distribution company which indicates that more than half of its Board of Directors as trained and licensed pharmacists.

The company distributes 130 products, serving over 700 retailers across the island.
It also supplies critical drug items to the National Health Fund that are offered to the public and through the NHF’s Pharmacy Services Division.

Despite higher revenues in Q3, the company experienced an 8 per cent decline in gross profit margin, primarily due to lower margins on government sales.

Operating expenses as a percentage of revenue increased to 40 per cent, up from 33 per cent in the previous year, mainly due to increased costs related to the right-of-use for the company’s New Brunswick Village location, depreciation on acquired assets, and higher staffing and distribution expenses.

Total assets grew by 56 per cent year-over-year, reflecting the ongoing progress of our strategic initiatives as we continue to execute them over the medium to long term.

In the quarter the company officially launched Iracet (Levetiracetam 500 mg), a key addition to product portfolio. Described as the first generic of its kind on the Jamaican market, Management noted that the antiepileptic drug has received a positive response from the medical community.

By the end of the quarter, Iracet was also made available at National Health Fund’s Drug-Serv Pharmacies, greatly expanding access for patients.

Management commented, “This marks a major achievement in our mission to improve patient outcomes through affordable and accessible medications. In addition to Iracet, we introduced several products under our partnership with Fourrts. These include Cofex, an over-the-counter cough and cold remedy, as well as Sucrafil and Sucrafil-O, prescription medications used in the treatment of stomach ulcers and hyperacidity.

“ These additions further strengthen our diverse product offering and position us to meet the growing needs of the healthcare market. Furthermore, our Ryvis product line, launched in May 2024, continues to gain momentum. We are excited to announce the upcoming addition of 21 prescription drugs, spanning areas such as pain management, gastrointestinal health, cardiovascular care, and antibacterial treatments. This expansion enhances our market position and supports our strategy to provide comprehensive healthcare solutions for patients and healthcare providers.”

Caribbean Money Daily

Comments

Popular posts from this blog

Kintyre makes US$300,000 investment in Sevens Ice

BCMG increases risk management oversight: Launches surveys-as-a -service

Wish List: University Hospital CEO seeks top-flight CFO for turnaround miracle