News
TPI Free to Grow Poppy Industry
Release date: 01 July 2008
After nearly four years of legal action, the Supreme Court of Victoria has handed down a judgement dismissing GSK’s claims against TPI and Jarrod Ritchie.
In 2004, Australian start-up TPI Enterprises Ltd and its Managing Director, were issued with a writ by global “pharma”
GlaxoSmithKline (GSK) in the Supreme Court of Victoria.
After nearly four years of legal action, including a five-week trial, the Victorian Supreme Court has handed down a judgment
dismissing GSK’s claims against TPI and myself.
TPI has based its business strategy from the start on identifying and securing new markets for Tasmania.
I would like to thank TPI’s shareholders, board, employees and growers, who have supported TPI during this difficult period.
The judgment handed down by Justice Harper was a very satisfying result after four challenging years fighting the litigation
and licensing objections brought by the multinational GSK.
But more importantly, this is a win for Tasmanian farmers, contractors, suppliers and customers as we can all now concentrate
on securing a prosperous future for Tasmania and our families.
Our company can now focus totally on building a world-leading company in the poppy processing industry, growing
Australian exports, investing in Tasmania and creating jobs.
Australian companies have to fight to establish themselves in international markets. TPI has just cleared another one of the
hurdles facing home-grown companies.
We are proud to say we are only the ninth licensed poppy processing company in the world.
We are rapidly expanding our business through the acquisition of farms, obtaining water rights and the imminent construction
of a codeine phosphate manufacturing facility.
With its breakthrough technology and the new markets it has identified, TPI has the Tasmanian industry positioned to enjoy
significant growth.
Background
TPI Enterprises has secured $100 million worth of orders - with significant additional growth anticipated as global demand for
pain relief increases.
TPI has invested heavily in research and development and has originated a unique variety of poppy now being grown as a trial
crop offering higher yields. Tasmanian poppy farmers are already feeling the benefits. In the 2007 growing season poppy
farmers for the first time in four years recorded an increase in returns following the Tasmanian Government grant of TPI’s
commercial manufacturing licence.
In February 2008 TPI was congratulated on its entry in the poppy industry when its new manufacturing plant was opened by
the Honourable David Llewellyn, Minister for Primary Industries and Water. At this time TPI also announced further price
increases for poppy growers.
TPI Enterprises is the only Australian-owned poppy processing company. It plans to spend tens of millions of dollars on
innovative research and manufacturing in the coming years.