HomeNewsAustraliaDennis Bastas on his success in Australia's pharmaceutical industry

Dennis Bastas on his success in Australia’s pharmaceutical industry

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The co-founder, Chairman and CEO of Arrotex Pharmaceuticals, Dennis Bastas, has opened up about his career success in an interview with The Australian after he placed 110th in ‘Australia’s Richest 250’ list.

In the interview, Bastas said he is in the process of buying his partner out of Arrotex and Juno Pharmaceuticals, of which he also owns half, to merge both companies into one.

Together, the companies will combine for pre-tax earnings of more than $250 million and annual revenue of at least $1.5 billion.

“My bankers [Goldman Sachs and KKR] are telling me this is the largest private deal that has ever been done… the largest non-private equity debt sponsored deal in Australia,” Bastas told The Australian.

“There’s no company I have ever acquired, there’s no merger I have ever engineered, that has not succeeded.”

Bastas is the son of Greek immigrant parents who came to Australia in the early 1960s and settled in Melbourne, Victoria.

He said his success is tied to his persistence and patience.

“Every deal has 10 different ways for it to fail, and there’s only one way to do it. Knowing that, I just persevere until I find the one way the deal gets done,” Bastas said.

Source: The Australian

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