Robinsons Retail takes control of The Generics Pharmacy
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Robinsons Retail has acquired a 51 per cent controlling interest in The Generics Pharmacy (TGP), the Philippines’ largest and fastest growing generics drugstore chain.
The acquisition of TGP’s over 1800 stores, combined with South Star Drug, will take the retail drugstore network of the group to nearly 2200 stores nationwide, more than Mercury Drugstore’s 1000+ network, making it the largest by store numbers.
Robina Gokongwei‐Pe, president and COO of Robinsons Retail, said TGP strongly believes in its vision to offer quality products at very affordable prices and in convenient locations. “It is an honor to continue the company’s legacy and to further grow the business”.
“As we profit from accomplishing this mission, we ensure our growth is shared among our franchisees, partners, suppliers and employees,” said Benjamin Liuson, founder and chairman of the board of TGP. “It is our hope to bring our business a step higher with our partnership with Robinsons Retail.”
The Liuson family which founded TGP has been in the pharmaceutical business since 1959, initially as importer and wholesaler under the name Pacific Pharma. In 1983, Pacific Pharma shifted its focus to generic medicines after realizing the serious need of most Filipinos for quality medicine at affordable prices.
In 2001, the Liuson family ventured into retail and set up The Generics Pharmacy (TGP). As demand grew, in 2007, TGP decided to bring affordable healthcare and medicines more accessible to far‐flung areas of the country through a franchising business model.
Questions & Answers
Q.What position does Robinsons Retail now hold in the drugstore market following this acquisition?
What position does Robinsons Retail now hold in the drugstore market following this acquisition?
With the acquisition of TGP, Robinsons Retail's combined network now totals nearly 2200 stores. This makes it the largest drugstore group nationwide, surpassing Mercury Drugstore's 1000+ outlets.
Q.What is the history of TGP and its founder's involvement in the pharmaceutical industry?
What is the history of TGP and its founder's involvement in the pharmaceutical industry?
The Liuson family, who founded TGP, has been in the pharmaceutical business since 1959. They started as Pacific Pharma, an importer and wholesaler, before shifting focus to generic medicines in 1983 and establishing TGP retail in 2001.
Q.What was the motivation behind TGP's decision to offer affordable healthcare through a franchising model?
What was the motivation behind TGP's decision to offer affordable healthcare through a franchising model?
TGP decided to adopt a franchising business model in 2007. This was done to make affordable healthcare and medicines more accessible to people in far-flung areas of the country, as demand for their services grew.