The Victoria-based company was founded in 2013 and is the second-largest generic hospital injectable company in Australia after Pfizer. Juno launched its first commercial products in 2016 and increased its earnings before interest, taxes, depreciation and amortization from $500,000 to approximately $29 million in 2022.

Most of the sales, which are expected to reach $79 million this year, are generated by distributing non-patented licensed products that are difficult to manufacture. Its main source of income by range is oncology, followed by anti-infectives.

Juno also has two company-owned products: iAluRil – a medical device designed for patients who have bladder lining problems, and it forms a protective barrier between the bladder lining and irritating compounds found in urine. It also has Phentermine Juno ER tablets which is a private prescription weight loss drug.

Jefferies will explore strategic investment partnerships as well as a partial or full sale of the asset. Another option would be to integrate it with Arrotex, the country’s largest private generic drug supplier, which supplies around a third of all PBS prescriptions dispensed in Australia.

Mr. Bastas said the review was aimed at maximizing the company’s growth potential by shareholders and that he was considering all options.

“Juno is similar to Arrotex in that it is a company that provides access to the Australian market. We work with partners who are looking for established market channels. We know how to get products registered here and we have people who know how to approach hospitals,” Bastas said.

“Juno is an incredibly successful company since bringing its first products to market. There are opportunities for international growth, including the launch of our specialty drug portfolio in Southeast Asia and other global markets. We are exploring options for the next stage of growth which could see revenues quadruple over the next five years.

Bastas pointed to a large pipeline of new drugs over the next three years that could help boost revenue to $200 million by 2027. Juno launched 16 new products in 2021, has nine more planned this year and 12 more in 2023.

Gross profit is estimated at around $38 million in callander 2022. The group has resilient margins of 36% with growing profitability.

Both Mr. Bastas and Mr. Jacobson have been healthcare executives for decades and have other business interests. Along with Arrotex, Mr. Bastas is also chairman and major investor in the genetics company myDNA.

Mr. Jacobson is a director of Juno Pharmaceuticals in Canada. Juno’s global operations consist of more than ten specialty pharmaceutical companies generating over CA$300 million ($330 million) in annual sales across Canada, the United Kingdom, the European Union, Australia and Africa. from South.