African Pharmaceutical Technology Foundation to Support African Companies in the Pharmaceutical Sector

The African Foundation for Pharmaceutical Technology initiative, launched by the African Development Bank (AfDB), aims to strengthen the capabilities of African countries' healthcare and pharmaceutical manufacturing, said Rania Al-Mashat, Minister of International Cooperation, during the high-level event to introduce the African Pharmaceutical Technology Foundation (APTF). The initiative is part of the joint effort between the African Union and the African Development Bank to enhance Africa's capacity to produce medicines and vaccines. Al-Mashat emphasized the importance of the pharmaceutical industry in achieving the African Development Agenda 2063 and the 2030 Sustainable Development Goals.

Key Takeaways:

• The African Foundation for Pharmaceutical Technology initiative is expected to support African companies operating in the pharmaceutical industry by providing highly efficient technological infrastructure.
• The initiative aims to strengthen the capabilities of African countries' healthcare and pharmaceutical manufacturing.
• Egypt's pharmaceutical market is expected to achieve a large annual growth rate and records a volume of $3 billion.
• The government has taken measures to restructure the pharmaceutical industry in Egypt, including attracting foreign investments and establishing investment projects.
• Egypt has launched the "Pharma City" initiative on an area of 180,000 square meters with a production capacity of 150 million packages annually.
• The country has also implemented the 100 million health initiative and the hepatitis C eradication initiative to develop comprehensive health care services.
• Egypt has localized the pharmaceutical industry by attracting foreign investments and establishing investment projects.
• The country has also expanded presidential initiatives in the health sector, including equality between citizens and refugees in their access to health services.

Statistics:

• The volume of the pharmaceutical market in Egypt records $3 billion.
• The pharmaceutical market in Africa is expected to achieve high growth, supported by urbanization and infrastructure development, health care capabilities, and a supportive business environment.
• The "Pharma City" initiative covers an area of 180,000 square meters.
• The production capacity of the "Pharma City" initiative is 150 million packages annually.
• Egypt's government has invested in scientific research to strengthen efforts to confront the Coronavirus pandemic.
• The country has also implemented initiatives to provide health care services, including the 100 million health initiative and the hepatitis C eradication initiative.

Sources:

• Daily News Egypt
• African Development Bank
• African Union
• McKinsey Company
• World Health Organization
• Rania Al-Mashat, Minister of International Cooperation.