To all our clients, colleagues and associates, I take this opportunity to wish you a most productive and prosperous 2013. Good health of body and mind should not be taken for granted and in that regard, I wish everyone a healthy and happy new year. It is only 6 months since we were officially registered as a company in South Africa and I am delighted to note that we have achieved some significant milestones.

Pharmaceutical division:

• We have formalised our relationship with the Gauteng Enterprise Propeller by signing the appropriate agreements.
• We have signed the initial agreements with the CSIR in Pretoria.
• We submitted 23 plants for botanical identification by the South African National Biodiversity Institute (SANBI). This is a critical initial step in the development of our more than 40 proposed remedies. Furthermore, it is the initial step for those remedies we are putting through the “conventional” drug development process.

Consultancy division:

• Compilation of our Virtual College of Healthcare Experts (VirCHE®) has been initiated.
• Negotiations started with Ministry Of Health, Health Professions Council of South Africa, commercial insurance underwriters, and healthcare organisations.
• We have reached an advanced stage in the product development and branding of the BApo medico-legal protection scheme.

People:

• The Chief Operations Officer (COO) has been identified and agreement reached on the basic parameters of her job and terms of reference. The COO is a key member of the executive team and will be responsible for the day to day technical and administrative affairs of BApo.

Key tasks for Q1 – 2013:

• Finalise collaborations with key stakeholders in the South African Healthcare industry.
• Complete the formation of our College of Experts.
• Complete branding, trademarks and intellectual property registration relating to BApo medico-legal protection scheme.
• Plan for the Q2 launch of the BApo medico-legal protection scheme.
• Basic biochemical analysis of BApo’s top 10 priority medicinal plants.
  Finalise finance and shareholding structure for the various products and services.

Comments

BApo is a new enterprise and as such, it is expected that much of our effort will be devoted to the establishment of the basics required for an undertaking of the magnitude anticipated. Our approach is “product focused”. We believe in setting up technical, administrative and financial structures designed to support specific products. This approach ensures that we invest resources strictly to match the returns forecast for the products and services under development. Our drug development activities should result in clearly quantifiable investment opportunities within the course of this year. Our development strategies will then become apparent both internally and externally, thereby offering exciting investment opportunities for interested parties. Our Medical Director, Dr Rajen Misra and I, as the current executive directors of Busch Apothecary, are energised and focused on the challenges we face as we endeavour to set our company on a winning path in 2013. I thank my Board of Directors and all the individuals and organisations that have helped Busch Apothecary in whatever capacity throughout 2012. Without this support 2013 cannot be the success it should be.

Sincerely yours

Zi.