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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 Y2A6QNLhW8nrL+X7tSqoOw==

<SEC-DOCUMENT>0001144204-07-056331.txt : 20071025
<SEC-HEADER>0001144204-07-056331.hdr.sgml : 20071025
<ACCEPTANCE-DATETIME>20071025161022
ACCESSION NUMBER:		0001144204-07-056331
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070305
FILED AS OF DATE:		20071025
DATE AS OF CHANGE:		20071025

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:			0731

	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:			BERNSTEIN GERALD
		CENTRAL INDEX KEY:			0001205433

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25169
		FILM NUMBER:		071190993

	BUSINESS ADDRESS:	
		STREET 1:		33 HARBOUR SQUARE
		STREET 2:		SUITE 202
		CITY:			TORONTO ONTARIO
		STATE:			A6
		ZIP:			M5J 2G2
		BUSINESS PHONE:		4163642551
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v091402_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-03-05</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001059784</issuerCik>
        <issuerName>GENEREX BIOTECHNOLOGY CORP</issuerName>
        <issuerTradingSymbol>GNBT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001205433</rptOwnerCik>
            <rptOwnerName>BERNSTEIN GERALD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>33 HARBOUR SQUARE, SUITE 202</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>TORONTO</rptOwnerCity>
            <rptOwnerState>A6</rptOwnerState>
            <rptOwnerZipCode>M5J2G2</rptOwnerZipCode>
            <rptOwnerStateDescription>ONTARIO, CANADA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Common Stock Warrants (rights to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.71</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-03-05</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>50000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-03-05</value>
            </exerciseDate>
            <expirationDate>
                <value>2012-03-03</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>50000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">At a meeting of the Board of Directors of the Issuer on March 5, 2007, the Board approved the issuance of warrants to
 purchase 50,000 shares of the common stock of the Issuer to the reporting person pursuant to the terms of the reporting
 person's employment agreement.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Gerald Bernstein</signatureName>
        <signatureDate>2007-10-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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