|Unilife CEO Alan Shortall: We Embraced U.S. Regulations|
Unilife CEO Alan Shortall: We Embraced U.S. Regulations
A transcript of the clip is provided below the video.
A new trend is on the way bringing jobs back to the United States of my next guest company was ahead of the curve. Joining me now is Alan Shortall, founder and CEO of Unilife and Alan thank you for being here.
Really interesting story let's get right to it you had an operation in China the began back -- what 2004-2005.
Yes, we actually were an Australian company and we outsourced our manufacturing to China, back in 2004 – 2005.
And your company is medical devices, is that correct?
Yes, we design an manufacture innovative drug delivery systems, we happen to have a range of safety syringes, but our portfolio is probably one of the broadest in the world, in terms of drug delivery systems.
So why did you come back to the US.
A number of reasons. And itrelates not only, The US has a wonderful reputation for high quality medical devices. And thereason for that is because of the regulations in the US they are so stringent. Now I know we all complain that regulations but this is one time when we actually embrace them, because it makes us better.
And consequently we can send our products anywhere in the world because they recognize -- for credibility absolutely yes.
So what does this mean for the workforce are you hiring and where you based.
Absolutely we’re based in central Pennsylvania -- we recognize in 2006 or so that the transition from a technology development company to a manufacturing company was a big step that many companies failed.
So what we did was -- we acquired a company in central Pennsylvania in 2007. And we relocated – closed down our manufacturing in China and moved all our manufacturing to central Pennsylvania.
A lot of companies go to China for a cheaper, cut down on cost some manufacturing was that the case for you.
Not really – the attraction for us was that the pharmaceutical customers that we send our devices to, because what pharmaceutical do is -- they put the drugs and our device and they deliver the drugs into the market and that. It's critical for them that they know they're dealing with the best quality that they can possibly get.
They know when we're compliant which we are in the USA, it's the best they can get so we move for that but also, we recognize that this is a major global opportunity.
We need to be on a global exchange the biggest capital market exchanges are here in the USA so we listed on NASDAQ and gives access to capital to grow the company.
Are you concerned under Obama -- as far as I can see there's going to be a tax on medical devices that would kicking on January the first is that right
You know, taxes are something we all have to put up with, in one shape or form they’re going to get us.
But doesn't that make you less competitive
No not at all in fact we actually in some ways. We so actually supply components of the device to the pharmaceutical company so they can put the drugs in them.
I don't ever so -- we don't get hit with that tax in a lot of our devices but I still don't like it-- nobody likes taxes.
Very -- congratulations coming back and to this country we appreciate say your information is – Alan Shortall -- founder and CEO – of Unilife and thank you, very good.