Joe Formulary founded Value Drugs in response a suggestion from a vice president of a local discount retail chain store.  This person had mentioned to Joe Formulary the potential for independent pharmaceutical companies to substantially undercut the prices of major pharmaceutical companies in manufacturing and selling products such as cough syrup and stomach-relief medications.  He realized the potential market for such products and decided to put his scientific and business backgrounds together to produce products catering to the discount end of the price spectrum.  

It was at this point that Value Drugs was established as an S-Corporation owned and operated on a part-time basis, solely by Joe Formulary in a laboratory facility in a converted garage outside of his home in Massive City.  

He recognized that cough syrup sales were vulnerable to heavy fluctuations in sales volume due to variations in seasonal demand.  He thus decided to begin his manufacturing operation with the production of stomach-relief medication on a limited basis for trial purposes.  Within two months, demand for the product from retail discount stores, local independent supermarkets and drug stores, and other neighborhood retail stores doubled to the point where his small operation was running at near capacity. Within six months, demand had exceeded the limited production capability of both the company and Joe Formulary, himself, based on the time and resources available to him.  Based on this success, the time is now ripe for him to concentrate all of his time and effort on the expansion full-time operation of Value Drugs.