Company organization
Adcock Ingram offers a broad range of products, including popular household names such as Panado, Allergex, Epi-max, Citro-Soda, and Myprodol. Its diverse portfolio spans non-price-regulated healthcare and consumer goods, a strong selection of over-the-counter (OTC) medications, a wide array of branded and generic prescription drugs, and a leading position in hospital and critical care product supply. As the largest supplier to South Africa’s private healthcare sector, the company employs over 2,000 people. Adcock Ingram’s mission is to deliver high-quality products that enhance the health and well-being of people in the markets it serves. As a Company deeply rooted in South Africa, Adcock Ingram remains dedicated to meeting the needs of its employees, partners, shareholders, and above all its patients, continuing a legacy of commitment that began over a century ago.
History
Founded in 1890 with the opening of E.J. Adcock Pharmacy in Krugersdorp, Adcock Ingram has grown to become the leading distributor of tablets, capsules, and liquid medicines in South Africa. The Company was initially listed on the JSE in 1950. In 2000, after Tiger Brands Limited acquired all remaining shares, Adcock Ingram was delisted and became a fully owned subsidiary of Tiger Brands. However, it regained its independence and was relisted on the JSE under the ticker symbol AIP on 25 August 2008 following its unbundling.
In the early 1900s, Hyme Tannenbaum was apprenticed to then owner, Jack Blair. Hyme's brothers Jack, Len and Archie soon followed him into the pharmacy, which they eventually bought. Beginning with this one small pharmacy, the Tannenbaum brothers built a cross-country chain of retail pharmacies, a pharmaceutical and toiletry manufacturing giant and a highly respected South African success story. [2] Adcock Ingram was first listed on the Johannesburg Stock Exchange in 1950, [3] : 8 the first pharmaceutical company to list on the exchange. [4] : 62
The company was sold to Tiger Brands for R3.4 billion, [5] and became a wholly owned subsidiary in 2000. [3] : 8 However, Adcock had been considered a subsidiary of Tiger Brands since 1978. [3] : 8 The relationship with Tiger Brands enabled acquisitions in the 1980s such as the Mer-National division of Dow Chemicals Africa; a 40% share of Baxter's Critical Care Division; and acquisitions of Restan Laboratories and the South African interests of Sterling Winthrop. [3] : 8 The company's acquisitions continued into the 1990s with Lepping, Laser, Pharmatech, Zurich Pharmaceuticals, Covan Pharmaceuticals and Salters. [3] : 8 A merger between Adcock and Premier Pharmaceuticals took place in 1996, which placed Adcock as "the leading supplier of health care products in South Africa." [3] : 8 2001 saw Adcock's acquisition of medical diagnostics firm Steri-Lab, and Robertsons Homecare's acquisition came in 2003. [3] : 8
By 2005, Adcock revenues constituted half of all revenues for parent firm Tiger Brands. [3] : 9 However, growing friction between Adcock's portfolio and the strategic direction charted by Tiger led to Tiger's effective termination in investment in Adcock, which eventually led to divestment of Adcock in 2008, which was shortly followed by Adcock's relisting on the JSE exchange as an independent firm. [3] : 9
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R9.6 Billion (2024) [1] 