Masters Speciality Pharma – Celebrating 30 Years In Business
17th October 2014 - Masters Speciality Pharma today celebrates the anniversary of its foundation by Dr Zulf Masters, OBE, 30 years ago.
The company, which started with only humble beginnings in a third bedroom in a terraced house in South Harrow, has gone on to become a multi-million pound business with offices in 3 continents supplying medicines to over 90 countries worldwide.
Zulf’s story, and the start-up of the company is truly remarkable, an outstanding example of triumph over adversity. Arriving in the UK from Uganda as a refugee expelled under Idi Amin’s regime, he studied for a doctorate in Clinical Biochemistry, leading to a career as a Sales Representative for a large pharmaceutical company covering the Caribbean markets.
It was during a sales trip to Bermuda, in a meeting with a local distributor, that Zulf learnt many British expatriates required an array of branded pharmaceutical products readily available back home.
The true mark of an entrepreneur is to know when to act and seize on an opportunity quickly. So, on returning home to the UK, Zulf arranged a meeting with an accountant, and set up the business, registering Masters Marketing Ltd on 17th October, 1984.
An introductory sales call on two local distributors in Bermuda and Bahamas resulted in Zulf’s first order, and also a loss of £39, undeterred and with lessons learned, he pressed ahead, and a second order, then a third, soon followed. Masters first year’s turnover closing on a healthy £27,000.
In the Caribbean, Masters had sealed its reputation for delivering on time and complete orders, and word quickly spread throughout the islands. By the second year, turnover had increased six fold, confirming Zulf had seized on an altruistic yet profitable plan.
In the early days, Zulf had no fax or phone, and orders came by telex – which he would collect from the local stationers. His first official office, located in Wembley, London, was a serviced office space with separate storage located nearby. Very different regulations existed then compared to now. During the 90s – Masters Medical Inc. Miami was established after a customer remarked “You’re 10 hours away in the UK, Miami is just an hour away... I buy a lot from Miami to ship to the Middle East” and so Masters Miami was born.
In 1994 – Zulf was on a UKTI trade mission along with a dozen other business people to El-Salvador when he discovered they had no pain management treatment available for cancer patients in the country. This visit would lead to a distribution agreement in Guatemala. This was also the period Masters began trading in the Middle East, Europe, Africa and Asia, pioneered by Zulf’s younger brother, Suzad Masters. To this day, Suzad retains his focus and fondness for the region, working as Director of Business Developments, Middle East and Africa. A few years later and another UKTI trip, this time to Brazil, culminated in Zulf winning an $80,000 dollar order, and the need to establish offices there, too.
And so the business has continued to expand and evolve in to the multi-million pound international business that it is today, in this, its thirtieth anniversary year.
On reaching this significant milestone Zulf Masters had this to say...
“Masters started from very, very small beginnings and today we deliver to over 90 different countries worldwide, I never thought that would ever happen.
Over the years I have met many people, we have been through many challenges and been over several speed bumps, but we have arrived where we are today in very good shape and it’s all thanks to the people who work for us here, who share the same vision, who like doing what we do on a daily basis, and that is caring for patients around the world and looking after the customers many of whom have been with us for all those 30 years from the very day that we started our business in my third bedroom.
I would like to take this opportunity to thank all of you for supporting us to be here.”
- Ends -
For information and interview requests please contact, Lorna Wright, Marketing Communications Manager, on E: lorna.wright@masters-sp.com or T: +44 (0)208 327 0900
About Masters
Masters Speciality Pharma is an international healthcare company, headquartered in the UK, holding all the necessary licenses for international procurement and compliant supply of a comprehensive range of specialty medicines, including controlled drugs. Established in 1984, our expertise and capabilities rest in the worldwide legal importation of innovative pharmaceuticals that are unlicensed, discontinued, are in short supply or orphan drugs for rare diseases into countries where they are unregistered or awaiting approval, which we ethically source through partnerships with a number of world leading pharmaceutical companies.
Masters Speciality Pharma has commercial operations and accredited warehousing in South America, Central America, Europe and the USA. Its multilingual customer services specialists and high performing management teams are led by a strong Executive team and distinguished Board.
For more information about Masters Speciality Pharma, please visit www.masters-sp.com
Help employers find you! Check out all the jobs and post your resume.
The company, which started with only humble beginnings in a third bedroom in a terraced house in South Harrow, has gone on to become a multi-million pound business with offices in 3 continents supplying medicines to over 90 countries worldwide.
Zulf’s story, and the start-up of the company is truly remarkable, an outstanding example of triumph over adversity. Arriving in the UK from Uganda as a refugee expelled under Idi Amin’s regime, he studied for a doctorate in Clinical Biochemistry, leading to a career as a Sales Representative for a large pharmaceutical company covering the Caribbean markets.
It was during a sales trip to Bermuda, in a meeting with a local distributor, that Zulf learnt many British expatriates required an array of branded pharmaceutical products readily available back home.
The true mark of an entrepreneur is to know when to act and seize on an opportunity quickly. So, on returning home to the UK, Zulf arranged a meeting with an accountant, and set up the business, registering Masters Marketing Ltd on 17th October, 1984.
An introductory sales call on two local distributors in Bermuda and Bahamas resulted in Zulf’s first order, and also a loss of £39, undeterred and with lessons learned, he pressed ahead, and a second order, then a third, soon followed. Masters first year’s turnover closing on a healthy £27,000.
In the Caribbean, Masters had sealed its reputation for delivering on time and complete orders, and word quickly spread throughout the islands. By the second year, turnover had increased six fold, confirming Zulf had seized on an altruistic yet profitable plan.
In the early days, Zulf had no fax or phone, and orders came by telex – which he would collect from the local stationers. His first official office, located in Wembley, London, was a serviced office space with separate storage located nearby. Very different regulations existed then compared to now. During the 90s – Masters Medical Inc. Miami was established after a customer remarked “You’re 10 hours away in the UK, Miami is just an hour away... I buy a lot from Miami to ship to the Middle East” and so Masters Miami was born.
In 1994 – Zulf was on a UKTI trade mission along with a dozen other business people to El-Salvador when he discovered they had no pain management treatment available for cancer patients in the country. This visit would lead to a distribution agreement in Guatemala. This was also the period Masters began trading in the Middle East, Europe, Africa and Asia, pioneered by Zulf’s younger brother, Suzad Masters. To this day, Suzad retains his focus and fondness for the region, working as Director of Business Developments, Middle East and Africa. A few years later and another UKTI trip, this time to Brazil, culminated in Zulf winning an $80,000 dollar order, and the need to establish offices there, too.
And so the business has continued to expand and evolve in to the multi-million pound international business that it is today, in this, its thirtieth anniversary year.
On reaching this significant milestone Zulf Masters had this to say...
“Masters started from very, very small beginnings and today we deliver to over 90 different countries worldwide, I never thought that would ever happen.
Over the years I have met many people, we have been through many challenges and been over several speed bumps, but we have arrived where we are today in very good shape and it’s all thanks to the people who work for us here, who share the same vision, who like doing what we do on a daily basis, and that is caring for patients around the world and looking after the customers many of whom have been with us for all those 30 years from the very day that we started our business in my third bedroom.
I would like to take this opportunity to thank all of you for supporting us to be here.”
- Ends -
For information and interview requests please contact, Lorna Wright, Marketing Communications Manager, on E: lorna.wright@masters-sp.com or T: +44 (0)208 327 0900
About Masters
Masters Speciality Pharma is an international healthcare company, headquartered in the UK, holding all the necessary licenses for international procurement and compliant supply of a comprehensive range of specialty medicines, including controlled drugs. Established in 1984, our expertise and capabilities rest in the worldwide legal importation of innovative pharmaceuticals that are unlicensed, discontinued, are in short supply or orphan drugs for rare diseases into countries where they are unregistered or awaiting approval, which we ethically source through partnerships with a number of world leading pharmaceutical companies.
Masters Speciality Pharma has commercial operations and accredited warehousing in South America, Central America, Europe and the USA. Its multilingual customer services specialists and high performing management teams are led by a strong Executive team and distinguished Board.
For more information about Masters Speciality Pharma, please visit www.masters-sp.com
Help employers find you! Check out all the jobs and post your resume.