BACKGROUNDER EMBARGOED: WED, NOVEMBER 25, 2015
For Benefit Medicines – Australia’s first
‘for-benefit’ pharmaceutical company
For Benefit Medicines (FBM) is Australia’s first ‘for-benefit’ pharmaceutical company whose sole purpose is to distribute 100 per cent of profits to local patient support and medical research organisations.
FBM is administered by a group with more than 80 years’ combined experience in healthcare and managerial roles, who subscribe to a social enterprise model that that distributes all profits to social causes, rather than to shareholders.
While operating like other conventional pharmaceutical companies, FBM’s four-point plan ensures all profits are distributed to the designated beneficiaries, as follows:
Under its Constitution, FBM is restricted from distribution of any of its profits to shareholders and is registered as a non-profit company for tax purposes.
FBM is independently audited by Grant Thornton Australia.
FBM has a low cost base with minimal staff.
All donations are recorded on FBM’s website – www.forbenefitmedicines.com.au – to ensure total transparency.
Medical professionals, pharmaceutical developers, patients or any other interested party may log onto the FBM website to view all funds donated through FBM medication purchases to the nominated beneficiaries.
MEDICATIONS DISTRIBUTED BY FBM
All FBM medications are approved by the Australian Government’s Therapeutic Goods Administration (TGA) for use in Australia, and are subsequently required to meet the same strict regulations applied to the original brand, with regard to quality, safety and effectiveness.
FBM’s first generic medications – Anastrozole FBM and Letrozole FBM – for the treatment of breast cancer, are now available on prescription from a doctor, and for dispensing through pharmacy.
These hormone receptor positive breast cancer treatments are for women who are no longer menstruating, whether due to surgery, radiotherapy, chemotherapy, or natural ageing.
All profits generated from the sale of these medications will be distributed equally to The Breast Cancer Network of Australia (BCNA) and the Breast Cancer Institute in Australia (BCIA).
In the interim, FBM will continue to expand its range of generic therapies, and areas of giving, in order to distribute further profits generated from the sale of its medications to additional patient groups and medical research organisations in corresponding therapeutic fields.
FBM believes every cloud has a silver lining meaning that patients can help others with the same condition by using an FBM product. As such, cloud imagery features prominently on all FBM product packaging for ease of identification.
By choosing an FBM product, you will be investing into local breast cancer support programs today, and breast cancer medical research for tomorrow.
Importantly, FBM products will cost your patient the same as their current medication.
To learn more about FBM, head to www.forbenefitmedicines.com.au or call 1300 656 256.
Kirsten Bruce, 0401 717 566; Ruby Archis, 0413 834 906;
Mark Henderson, 0431 465 004