Pharmaceutical distribution company RA Williams Limited, after a decade of operation in the local market, is looking to further increase market shares through expanded portfolio offerings and a revised growth model.

With revenues for the first time in the company’s 10-year history expected to surpass the billion-dollar mark at the end of its financial year on April 30, CEO Audley Reid, responding to questions from the

Jamaica Observer on Monday, said this performance aligns well with the company’s strategic focus.

“Over the next two years we expect, based on current developments, to cross $1.5 billion in revenues matched by the continued growth of net profit. Several plans are also in the works including moving into our new modern 12,000-square-foot warehouse facility to allow for improved operational efficiency and to facilitate our current growth rate,” he told the Business Observer.

The family owned and operated company, which supplies pharmaceutical products to health-care facilities islandwide, including all major pharmacies and hospitals, said its aim is to also attract new clients. The business since its inception in March 2012 has transitioned from one flagship product and a single drug house supplier, to today distributing over 140 products secured across some eight major drug houses worldwide.

Finalising plans to launch another pharmaceutical drug house in the coming months, Reid further said the intention was to service its growth appetite through additional partnerships beyond the local market. This as the company seeks to fulfill its mission of establishing a pharmaceutical distribution network across the Caribbean and Latin America and connecting the people it serves with the most effective and economical pharmaceutical products.

“This pharmaceutical manufacturer is the largest domestic player in India and is keen on expanding its international business aggressively,” he stated.

“Current growth is expected to drive expansion of our product portfolio and we believe we have all the necessary plans in place for capacity augmentation to facilitate this growth. We are also making investments in our human resource capabilities and capacities to ensure that we keep our teams actively engaged and motivated to further advance the strategy,” he also said.

Chairman of the company R Danny Williams, speaking at the recent 10th anniversary dinner, lauded the consistent growth of the enterprise, noting its prospects as not only promising, but one having the potential to unlock much more success. To this end, he hinted of pipeline plans which include a possible entry to the stock market as the pharmaceutical company moves to shore up its growing asset base and increase capital holdings as it positions to become a household name.

Anchored by increased internal logistics management and reserved inventory holdings, the company said its growth agenda remains on track despite the lingering supply chain challenges.

“The pandemic has been our biggest challenge to date largely due to the uncertainties, which make it difficult to predict outcomes and the logistics challenges that have continued since the onset of the crisis. Luckily, we had made improvements to our internal management teams and expertise which rose brilliantly to counter some of these challenges,” Reid said.