Rx-360 International Pharmaceutical Supply Chain Consortium

“Any legal entity may become a member of rx-360 if the following criteria is met: 1 - its activities relate to the research, development, or manufacture of pharmaceutical or biotechnology products, including research-based pharmaceutical companies, generic pharmaceutical companies, biotechnology companies, as well as suppliers of ingredients and components of pharmaceutical or biotechnology products and suppliers of services relating to the quality or safety of the pharmaceutical or biotechnology supply (providers of auditing and consulting services are not eligible for rx-360 membership); 2 - it agrees to pay annual dues and assessments that are set by the board of directors; 3 - if it is a governmental unit or quasi-governmental unit or an educational institution, it does not involve the legislative,judicial, or executive branches of government, and all steps will be taken by the entity to resist or restrict any attempt made by the legislative, judicial or executive branches to obtain access to rx-360 reports or confidential information, and appropriate mechanisms are in place at the entity to ensure confidentiality and to prevent improper disclosure. There are three classes of rx-360 members: one class for manufacturers of pharmaceutical or biotechnology finished products with $500 million (us dollars) or more in worldwide gross revenue from sales of pharmaceutical or biotechnology finished products among affiliated entities; one class for manufacturers of pharmaceutical or biotechnology finished products with less than $500 million (us dollars) in worldwide gross revenue from sales of pharmaceutical or biotechnology finished products among affiliated entities and contract manufacturers of finished dosage from pharmaceutical and biotchnology products; and, one class for suppliers of ingredients and components of such products and suppliers of services.”

“All members have equal voting rights in elections of officers and all members are eligible to vote in elections of the board of directors; however, voting for board members is done by category of membership. The bylaws state that approximately 65% of the membership of the board shall be comprised of representatives of large finished product manufacturers, approximately 10% 0f the membership of the board shall be comprised of representatives of small or contract finished product manufacturers, and approximately 25% shall be comprised of representatives of suppliers.”

“The bylaws of rx-360 state that the members of rx-360 have the power to override any amendments to the bylaws adopted by the board of directors.”

“The ceo first reviews the 990. Once the ceo is satisfied that the information is accurate and complete, it is forwarded to the chair, vice-chair and treasurer for their review. Once they are satisfied that the information is accurate and complete, the 990 is forwarded to the full board for review prior to submission.”

“It is reviewed yearly upon bylaw review and installation of annual board (january).”

“Compensation for the ceo is evaluated on an annual basis by the compensation committee and the chair of the board of directors. Compensation is based on the level of skill required for the position, an evaluation of the individual's achievement, and a comparison of compensation to similar positions in the non-profit industry. The determination of the compensation is documented by a compensation agreement executed by the chair of the board of directors, the chair of the compensation committee, and the ceo.”

“Rx-360's bylaws and anti-trust policy are available on rx-360's website. All other financial documents that are required to be made available to the public will be available upon request.”

“Program quality auditors 797,065. Professional fees 252,620.”

“During the current fiscal year, the organization recorded audit adjustments identified during the audit of the prior year's financial statements. These adjustments related to the correction of previously misstated balances that were identified subsequent to the filing of the prior form 990. The adjustments were recorded as prior period adjustments in the organization's current-year financial statements in accordance with u.s. Generally accepted accounting principles. As a result, the beginning net asset balance in the current-year form 990 was restated to reflect these corrections. The adjustments did not impact the organization's current-year activities or operations.”