Arrotex Pharmaceuticals, a key part of Dennis Bastas’ DBG Health, has appointed Matt Zeller as its new Chief Executive Officer. Zeller, formerly the head of Novartis in Australia and New Zealand, will now lead Arrotex, a company that fulfils one in every two prescriptions dispensed across Australia. Arrotex Pharmaceuticals is a generics business that provides affordable medicines to Australians. DBG Health, led by executive chairman and founder Dennis Bastas, also owns a large cosmetics business that includes brands such as MCo Beauty, Nude By Nature, and Poni Cosmetics.
The appointment comes after Bastas offloaded a substantial stake in his business empire for $1.6 billion in August to a private capital fund managed by BDT & MSD Partners. According to Bastas, Zeller’s extensive experience as a global pharmaceutical executive makes him exceptionally well-suited to guide Arrotex through its next phase of expansion and contribute to the overall growth of DBG Health.
“We are delighted to welcome Matt as CEO of Arrotex Pharmaceuticals at such an important time for our business,” Bastas said. Bastas’ wealth is estimated at over $5 billion according to the Financial Review Rich List. This strategic leadership change signals a continued focus on growth and innovation within Arrotex Pharmaceuticals and DBG Health, as the company strengthens its position in both the pharmaceutical and cosmetics industries.
