HalcyGen has been founded to bridge the gap between mainline pharmaceutical companies and high volume generics companies through the development and licensing of new improved proprietary generic formulations known as "Super Generics" or "High Functionality Generics".

The generics industry is undergoing significant growth with approximately USD100 billion worth of brand-name drugs to go off patent by 2010, of which USD21 billion go in 2006 alone. This provides unprecedented opportunities for both mainline pharmaceutical companies and generic manufacturers to expand their profile through formulation-improved products.

HalcyGen acquired Mayne Pharma International Pty Ltd (MPI) in November 2009. The company has substantial assets and revenues.

MPI was formerly known as FH Faulding & Co Ltd, and is a specialist pharmaceutical company with an intellectual property portfolio built around the optimisation and delivery of oral dosage form drugs. MPI has a long and successful history in developing and commercializing improved pharmaceuticals, and has launched and marketed numerous products through partnerships with global licensees.

MPI’s facilities are based in South Australia on a 32 acre site. The facility also undertakes the manufacture of products under contract for third parties to TGA, FDA and EU regulatory guidelines.

Strategy

HalcyGen's strategy is to capitalise on the value associated with the development and commercialisation of novel, improved variants of existing proprietary pharmaceuticals known as Super Generics.

Commodity generics have low barriers of entry and low margins of profits due to competitive pricing, while specialty and Super Generic drugs are reformulations of off-patent drugs and often enjoy patent protected positions and have higher margins.

HalcyGen's Objectives are to:

• Develop "value added formulations" for generic compounds that are off-patent but which have a newly established intellectual property position through improved delivery and formulation.
• Market these value added formulations as a low risk option (compared to biotechnology) to pharmaceutical companies looking for new marketing opportunities in niche markets.
• Develop identified specialty products that have demonstrated significant marketable advantages over existing products.
• Out license of the developed products, worldwide.