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South Africa Pharmaceuticals and Healthcare Report Q4 2008
Business Monitor International, Dec 2008, Pages: 102
South Africa Pharmaceuticals and Healthcare Report provides independent forecasts and competitive intelligence on South Africa's pharmaceuticals and healthcare industry.
South Africa’s drug market was estimated to be worth ZAR21.4bn (US$3.0bn) in 2007. Between 2008 and 2012, we forecast average drug expenditure growth of 10.3% a year in local currency, with the market reaching ZAR35.0bn (US$4.26bn) in 2012. Restrictive pricing and reimbursement policies mean that most growth should come from increasing consumption volumes, driven by the country’s substantial burden of disease. Significant changes have been proposed to South Africa’s pharmaceutical and healthcare regulations. This includes the replacement of the Medicines Control Council (MCC) with a new body, the South African Health Products Regulatory Authority, which would have a broader mandate than the MCC, such as responsibility for regulating medical devices.
Meanwhile, in September 2008, Manto Tshabalala-Msimang was replaced as health minister by Barbara Hogan. Tshabalala-Msimang’s removal from the post was widely welcomed by HIV/AIDS activists who had objected to the former health minister’s promotion of herbal remedies for the treatment of HIV/AIDS. Hogan has promised a break with old policies. However, the government’s handling of the HIV/AIDS pandemic is likely to remain controversial. Indeed, the Department of Health’s HIV/AIDS statistics were called into question by a Development Bank of South Africa (DBSA) report released in May 2008, which put HIV prevalence at 7.6mn. The Department of Health estimates that around 5.4mn citizens were infected with the virus in 2006, according to government statistics based on surveys of women attending antenatal clinics.
In the updated Business Environment Ratings for Q408, South Africa scores 52 out of 100, which places it in fourth position of 15 Middle East & Africa markets surveyed. The country scores highly for its large market and favourable drug expenditure growth forecast. However, slow population growth and a strict pharmaceutical pricing climate restrict South Africa’s overall score.
India’s Lupin and Zydus Cadila both took direct stakes in South African drugmakers during Q308. In June 2008, Indian generics firm Zydus Cadila announced that it would acquire 70% of South Africa’s Simayla Pharmaceuticals. This was followed, in September 2008, with Lupin’s announcement that it had taken a 60% stake in Pharma Dynamics.
Meanwhile, South Africa’s largest drugmaker, Aspen Pharmacare, has been increasingly looking to the rest of the African continent for growth. In August 2008, Aspen acquired a 60% stake in Tanzania’s Shelys Pharmaceuticals from private equity firm Aueros Capital for an undisclosed sum.
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