TPI was founded in 2004. Our industry is a little bit peculiar in the pharmaceutical sense in that we do require an agricultural raw material as our source of supply. We harvest opium poppies. We harvest those capsules in Tasmania historically, but more recently in Mainland Australia and in the Northern Hemisphere.
We extract the active ingredients or what we call in this industry, the Narcotic raw material. That’s the white powder. We do that at our facility just in the northern suburbs of Melbourne. And we export that globally to pharmaceutical companies. We then put it through a process to make it fit for human consumption, which in the industry, is colloquially known as 'active pharmaceutical ingredients', which is then turned into a tablet and then sold onto the consumer.
Currently, TPI’s key advantage is that we can extract the Narcotic raw material at the same quality as our competitors, for a significantly cheaper price. That is our key competitive advantage. Of all the narcotics produced globally, 90% of those service 14% of the worlds population. So there is a huge unmet demand.
