Finance

British pharmaceutical laboratory AstraZeneca launches an ambitious plan to expand in Africa

Friday, 12 February 2016 16:31

British pharmaceutical laboratory AstraZeneca Plc just launched an expansion plan in Africa that aims to boost drugs sales by 10% a year, by focusing on non-communicable diseases, Bloomberg reported on January 10th citing one of the firm’s officials.

AstraZeneca, who already has a plant that manufactures drugs to treat high-blood pressure and cholesterol in Egypt, plans to build another one in Algeria.

Construction is about to start on a manufacturing plant in Algeria,” said the company’s vice-president for the Middle East and Africa, Tarek Rabah, adding that this infrastructure would cost “tens of millions of dollars”. It should manufacture drugs to treat cardiovascular diseases, cancer and diabetis.

On February 3, 2016, AstraZeneca signed an agreement with the Ethiopian ministry of health to screen for high-blood pressure after a similar initiative in Kenya in October 2014 where more than 150,000 people were diagnosed with the condition. “While the health-care industry focus in Africa has been on combating communicable diseases like malaria, action needs to be taken to tackle illnesses such as those caused by heart problems,” Rabah said. “More than 50% of deaths across the continent are projected to be caused by non-communicable diseases by 2030,” he continued.

The pharmaceutical group was established in 1999 as a result of merger between Sweden laboratory and British laboratory integrates its African expansion into a long-term strategy.

If you want to expand in Africa, you need to understand this is a long-term effort. You need to be an active contributor to really strengthen the health-care system,” said Rabah whose firm sold about $500 million of drugs in Africa last year.

In 2013, drug sales in Africa amounted to $20.8 billion against $4.7 billion 10 years earlier, a study published in June 2015 by consulting firm McKinsey. This market should however triple in size by 2020 to $65 billion, the same study revealed.

On the same topic
Bank of Africa proposes 1.091 billion dirham capital increase via bonus shares Board also suggests higher dividend of 5 dirhams per share Strong 2025...
BRVM plans first ETFs and derivatives on UEMOA market Delegation visits Nigeria’s NGX to learn from its experience Move aims to boost liquidity,...
BCEAO launches CEMSTRAT banking programmes with COFEB and HEC Paris AI boosts banking efficiency but increases cybersecurity risks, experts warn Banks...
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct deposits, improving efficiency and product...
Most Read
01

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
04

A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...

Mitsubishi, Toyota Buy Options on Africa's Next Startups
05

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.