Generics Pharmacy eyes 150 new branches yearly

Published on 24 January 2013 Hits: 939 Written by Madelaine B. Miraflor

After establishing 200 stores in 2012, the Generics Pharmacy Franchising Corp. is planning to put up 150 stores annually starting this year.

Currently we have 1,500 outlets open. For the year, I think we can do additional 150 a year. Expansion now would be from second to fifth class municipality. Talking about inclusive growth, we are already doing it, The Generics Pharmacy President Benjamin Liuson said in an interview .

We will hit 2,000 outlets by 2015, he said. Liuson added that they have stores in Maguindanao, Palawan and South Cotobato, among other provinces across the country.

He said that even as The Generics Pharmacy wants to fuel growth this year, it intends to keep its expansion slower compared to the companys introductory years.

Slower now. In the first three years we did 300 outlets per year. Then 200 outlets now we project 150. Why slower?

Because we want to protect the existing franchisee. Kasi kung bukas kami ng bukas, pareho kayong lugi, nasaan yung profitability [if we keep on opening stores, the profitability might be compromised], Liuson said

We do one-kilometer distance, we do not put them near each other to protect our franchisee, to protect the business project, he added.

As for the companys 2012 performance, Liuson specified that it definitely performed well.

[Our performance is] better than the industry. The pharma industry [growth] is 3 percent. We made much better than the 3 percent, he said.

Continue reading here:
Generics Pharmacy eyes 150 new branches yearly