Pharmaceutical distributor RA Williams unveiled plans to emerge as a leading player in Jamaica’s pharmaceutical sector.

As part of those expansion plans, RA Williams has entered into an agreement with Fourrts (India) Laboratories and Mankind Pharma to introduce innovative treatment options to the Jamaican market, further boosting its revenue.

The new treatment options will target areas that require anti-infectives, used to fight infections caused by bacteria and viruses, and dermatological treatments, to address a range of skin conditions and diseases.

These plans were unveiled last Monday (July 15) at the company’s initial public offering (IPO) investor briefing—supported by Sagicor Investments Jamaica (SIJ), lead broker and arranger of the IPO.

The briefing took place ahead of the July 18 IPO opening in which RA Williams is inviting subscriptions for 400 million ordinary shares at J$1.00 per share, distributed across various share pools. 

The IPO is set to close on July 31.

SIJ’s Capital Markets Unit manager, Stuart South, highlighted that going public will enable RA Williams to utilise the proceeds from its IPO to support its expansion plans. He explained that the funds will facilitate debt reduction, enhance cash flow, and ultimately strengthen the company’s financial position.

Success over the past 12 years 

He emphasised that the company’s success over the past 12 years—growing sales to approximately $1.5 billion for the year ended April 2024—has largely been funded through retained earnings and short-term loans. Over the past two years, RA Williams has achieved remarkable growth, with revenues soaring from J$1 billion in 2022 to over J$1.4 billion in 2023 or 41.6 per cent. 

This success stems from the company’s strategic efforts to enhance market penetration and product availability over the last 12 years.

What began as a small retail pharmacy in Chapelton, Clarendon has evolved into a substantial 21,000 square-feet facility serving 710 customers, including 447 pharmacies, 31 hospitals and medical centres, and 232 medical practitioners across the island.

It is this expertise that has led to strategic partnerships formed with top international pharmaceutical manufacturers, such as Aristopharma Limited from Bangladesh, Square Pharmaceuticals, Indus Life Sciences, and several others, that have allowed the company to expand its product lines, meeting the pharmaceutical needs of Jamaicans island-wide.

Once successfully admitted to the junior market, RA Williams intends to initiate a 25 per cent dividend payout alongside investments in working capital. South highlighted that this strategic use of IPO funds will position the company for sustained growth and market leadership in Jamaica’s pharmaceutical distribution sector.

RA Williams piqued the interest of investors 

Outside of its financial success, RA Williams has piqued the interest of investors as a caring company, one deeply rooted in improving community health and well-being. The company has consistently worked to bridge the gap in access to essential medications, ensuring that society’s most vulnerable can afford life-saving treatments. 

It has also been active in building Jamaica by investing in education, particularly through the York Street Primary School in Linstead, St. Catherine, where it granted bursaries to 20 of its top-performing students. 

Should it succeed in being publicly listed, RA Williams will become the only such public pharmaceutical distribution company with over 50 per cent of its board comprised of registered and practising pharmacists.