-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 r3plSbgwy21ZB1ZCKl+Jkg==

<SEC-DOCUMENT>0000950116-03-003885.txt : 20030915
<SEC-HEADER>0000950116-03-003885.hdr.sgml : 20030915
<ACCEPTANCE-DATETIME>20030915162220
ACCESSION NUMBER:		0000950116-03-003885
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030731
FILED AS OF DATE:		20030915

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GENEREX BIOTECHNOLOGY CORP
		CENTRAL INDEX KEY:			0001059784
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				820490211
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		33 HARBOUR SQ
		STREET 2:		STE 202
		CITY:			TORONTO ONTARIO CANADA
		STATE:			A1
		ZIP:			M5J 2G2
		BUSINESS PHONE:		4163642551

	MAIL ADDRESS:	
		STREET 1:		33 HARBOUR SQ
		STREET 2:		STE 202
		CITY:			TORONTO ONTARIO CA
		STATE:			A1
		ZIP:			M5J 2G2

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			GLUSKIN ANNA E
		CENTRAL INDEX KEY:			0001125857

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25169
		FILM NUMBER:		03895952

	BUSINESS ADDRESS:	
		STREET 1:		33 HARBOUR SQUARE STE 202
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5H2G2
		BUSINESS PHONE:		4163642551

	MAIL ADDRESS:	
		STREET 1:		C/O GENEREX BIOTECHNOLOGY CORP
		STREET 2:		33 HARBOR SQUARE STE 202 TORONTO ONTARIO
		CITY:			CANADA M5J2G2
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>p327091_ex.xml
<DESCRIPTION>5
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>5</documentType>
   <periodOfReport>2003-07-31</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>1</form4TransactionsReported>

    <issuer>
        <issuerCik>0001059784</issuerCik>
        <issuerName>GENEREX BIOTECHNOLOGY CORP</issuerName>
        <issuerTradingSymbol>gnbt</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001125857</rptOwnerCik>
            <rptOwnerName>GLUSKIN ANNA E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O GENEREX BIOTECHNOLOGY CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>33 HARBOUR SQUARE, SUITE 202</rptOwnerStreet2>
            <rptOwnerCity>TORONTO, ONTARIO CANADA</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>M5J 2G2</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>1</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
         <officerTitle>CEO and President</officerTitle>
      </reportingOwnerRelationship>
   </reportingOwner>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Common Stock Purchase Options</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>2.10</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2002-11-26</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>350000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
         <value>2002-11-26</value>
      </exerciseDate>
      <expirationDate>
         <value>2007-11-25</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Common Stock</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>350000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>350000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <ownerSignature>
      <signatureName>Anna E. Gluskin</signatureName>
      <signatureDate>2003-09-12</signatureDate>
   </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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