Generoso Pharmaceuticals and Chemicals, Inc.
David Generoso could feel his “five-year itch” once more. He already had behind him 15 years of experience in the pharmaceutical industry and was managing an interesting portfolio of business revolving around pharmaceutical and chemical products. Still, he felt he had not exhausted the opportunities, which the industry had to offer.
David considered himself handicapped with a short patience. He wished he had pursued a more stable career path like his brother who had been happily working with the same rural bank for the past 25 years, until he ran in 1987 for a seat in Congress representing their region and won. His reputation a ...view middle of the document...
David began his career in the Philippine pharmaceutical industry as salesman in Central Luzon region for a number of multinational pharmaceutical firms. Until now, he feels he is, first and foremost, a salesman. He thus, has this constant urge to be on the go, doing fieldwork rather than being confined in his posh air-conditioned Makati office with his feet on his table, trying to develop a vision for his company, his country, and himself. The sight of his feet, however, precludes David from looking too far, i.e., both literally and figuratively. His feet, well protected now by smart men’s shoes of the most expensive brands all over the world, bring back all the memories of his days as salesman. David invests heavily in his shoes which he considers as the most abused component of his wardrobe, having to carry his entire frame wherever he goes. He now owns over 30 pair of shoes – all top of the line from Italy and Switzerland – each pair a tribute to all the steps he made he made peddling pharmaceutical products.
With his humble earnings as salesman, David was finally able to make a giant step into marriage. He married Elizabeth Reyes, a strong woman, even if only having successfully hurdled two national professional licensure examinations. Elizabeth was a nurse. She was, likewise, a certified public accountant. She was, likewise, a certified public accountant. She was also probably the ultimate test for David to confirm his vocation for priesthood! They have been blessed with five children, three girls and two boys.
After five years of combing the Central Luzon region, in 1978, David established a company called Generoso Pharmaceuticals & Chemicals (“GPC”) with Elizabeth and a business associate, Rafael Buenaventura who was a salesman like David. The team set up shop at the Generoso residence in Tarlac.
An initial capitalization of P300 started the business with a dozen bottles from the pharmaceutical firms, which they had been connected before. They put their own labels on the product they had purchased, registered the products with the Bureau of Food and Drug (“BFAD”), and started selling.
GPC’s initial market, of course, was composed of the personal contacts of David and Rafael had made with doctors, pharmacists, and hospital administrators during their stint as sales representatives in the Central Luzon region. Already on their own, the two realized that they had embarked on a herculian task, colliding head-on with other salesmen representing the big pharmaceutical firms. Still, they persisted. David felt that the most difficult part was getting their target market to at least try their product. He was confident of the quality of their products and that customers would patronize them afterwards.
GPC was able to establish a good track record fast and its customer base expanded beyond the Central Luzon region. David and Rafael had to hire extra hands, rather, feet, to peddle their goods. They were methodical,...
