• 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

  • Rich getting richer

    Economists differ on how to tackle the chasm between rich and poor, says Leopold Scholtz.

Loading...
See More

SA, Swiss firm in $211m drug venture

Feb 10 2012 14:10 Reuters

Related Articles

Aspen reaps reward of expansion plan

Brics vow to bring down drug prices

Strikes to hit energy, drug firms

Drug suspension hits Adcock profit

Indian drug firms thrive in SA

ANC mulls state drugs firm

 
Cape Town - South Africa will set up a $211m joint venture with Swiss firm Lonza Group to manufacture the main chemicals used in HIV drugs, a senior official said on Friday, as part of a government plan to lower prices of critical drugs.

South Africa, which has the world’s heaviest HIV caseload and its biggest treatment programme, has long complained that it pays too much to secure life-prolonging anti-retroviral drugs for state hospitals.

“This joint venture ... will establish the first pharmaceutical plant to manufacture active pharmaceutical ingredients for anti-retroviral medicines in South Africa,” said Science and Technology Minister Naledi Pandor.
 
Active Pharmaceutical Ingredients, or API, refers to the main component in medicines, accounting for as much as 75% of the finished drug dosage.

South Africa wants to produce ARVs in the country by 2016, a move that could squeeze local players such as Aspen, Cipla Medpro and Adcock Ingram,

SA consumes 25% of ARVs in the world and has at least 5.7 million people infected with the deadly virus.
 
Health authorities said in December 2010 10 companies that include Chicago-based Abbott Laboratories and India’s Aurobindo Pharma would share in a R4.3bn contract to supply ARVs.

The R1.6bn venture will build a plant in Pretoria that will create 2 200 jobs, with an additional 3 800 jobs to be created during the construction phase.
arvs  |  south africa

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Watch: Flying first class has never been this luxurious!

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...