Pharmacy Daily | First FBM pharma company

Australia’s first ‘for benefit’ pharmaceutical company was launched yesterday promoting the first two ‘for benefit medicines” (FBM) in the form of two aromatose inhibitors. FBM is a new pharmaceutical business model that returns 100% of profits back into local breast cancer patient support and medical research organisations, in this case Breast Cancer Network Australia (BCNA) and Breast Cancer Institute of Australia (BCIA). The two products are generics of anastrozole and letrozole with the suffix FBM. Royal Melbourne and Royal Women’s Hospitals director of the Breast Service Professor Bruce Mann said the concept of a for benefit pharmaceutical company is way overdue, and an initiative from which patients stand to significantly benefit. “FBM represents the perfect hybrid of a formally structured commercial entity that distributes products that improve quality of life, while directing profits to beat diseases,” said Mann. “By choosing an FBM product, the medical community will be investing in local patient support programs today, and facilitating medical research to improve treatments tomorrow.” Annual sales of aromatase inhibitors in Australia exceed $20 million while the generic segment comprises approximately 50% market share, creating an opportunity for this model to bring significant returns to the people most directly impacted, Professor Mann said. Breast Cancer Network Australia (BCNA) ceo, Christine Nolan said she welcomed the philanthropic initiative, and its shared goals of providing breast cancer patient support, information, treatment and care. “An estimated 15,600 women will be diagnosed with breast cancer in Australia this year, while the projected number of deaths from the disease will exceed 3,000,” Nolan said.

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