Indian drug manufacturer Cipla will prioritise emerging markets across the African continent in its growth plans, chief executive Subhanu Saxena has said.
“The strategy is to bring Cipla's full product portfolio to bear, and to continue to be a leader in ARV’s (antiretrovirals) and anti-malarial medicines,” Saxena told the South African daily Business Day.
The company head cited analysts' predictions that the African pharmaceutical market would grow to between $30-40 billion by 2020.
Cipla already has a big share in the South African pharmaceutical market, where it is poised to acquire local pharma company Cipla Medpro for an amount believed to be close to R4.46 billion (around $450 million).
The two have a supply agreement since 2005.
Saxena said the focus would now also be on other regions in Africa.
“We will prioritise markets such as South Africa, Nigeria and East Africa for growth, but it will be a strategy tailored to the needs of each of those areas,” the newspaper quoted him as saying yesterday.
The products in which Cipla is expecting increased sales are those which are used in oncology, respiratory and central nervous system medicines. Saxena was optimistic about current moves towards regional cooperation on medicine regulations to ease business in Africa. "The fewer structures the simpler it is for us. But it is important that such authorities have clarity and transparency in terms of how they make decisions, and that they are adequately resourced. It is in none of our interests that important or life-saving therapies get delayed in making it to market when they can benefit everybody," he said.
