Experts Examine Opportunities In The Growing African Pharmaceutical Market At 1st Euro-Africa Health Investment Conference
Strong macroeconomic fundamentals and rising healthcare expenditure driving growth and demand as changing disease profile raises need for new therapies across Africa
The inaugural Euro-Africa Health Investment Conference (EAHIC) will gather industry executives, policy makers, investors, project developers and key stakeholders to identify and discuss the latest development opportunities in the African pharmaceutical sector, public-private cooperation, and pharmaceutical innovation to improve access to medicines and contribute to sustainable development of healthcare systems across Sub-Saharan Africa.
EAHIC will be held in London, United Kingdom from March 26-27, 2013 at the Institute of Physics, 76 Portland Place, London.
The conference, to be held under the theme, “Opportunities, Innovation and Partnerships to Improve Access to Medicines” is a gathering of stakeholders who are committed to improving access to essential, quality and efficacious medicines and promoting the growth of a strong Africa perspective in the biopharmaceutical arena.
“At a time when growth in traditional pharmaceutical markets is stalling, strong macroeconomic fundamentals and rising healthcare expenditure across Africa presents considerable opportunities for health investment. Pharmaceutical companies are looking to expand into the region which offers a compelling opportunity and growth potential,” said Miles Mudzviti, Managing Director, United Communications & Media (Africa). “This conference is particularly timely and pertinent, providing a platform to gain insights into the status of the pharmaceutical sector in different African countries.”
According to IMS Health (1), pharmaceutical spending in Africa is expected to reach $30 billion by 2016, driven by a 10.6 percent annual growth rate that is second only to Asia Pacific (12.5 per cent) and in line with Latin America (10.5 per cent). Strong macroeconomic fundamentals, a shifting disease burden with the rise of chronic diseases, increased health spending and a rising middle class are driving demand and growth in the African pharmaceutical markets, presenting opportunities for multinational companies and local manufacturers alike.
The double burden of infectious and non-communicable disease means further investments are needed, from manufacturing and distribution of drugs, to medical technologies, pharmaceutics and life sciences, to meet these growing healthcare needs in Africa.
Firm national, regional and continental initiatives are underway to promote local pharmaceutical manufacturing as a means to meet some of these healthcare needs as policy makers look to build capacity and capability in Africa’s nascent and exciting local pharmaceutical manufacturing industry. This year has seen the launch of the Federation of African Pharmaceutical Manufacturers Association (FAPMA); with the African Union Commission due to launch its Pharmaceutical Manufacturing Plan for Africa Business Plan this year and the first regional project launched in the East Africa Community aimed at harmonizing medicines registration, as part of a continent wide project aimed at the medicines regulatory harmonization.
The conference will cover topics including the current state of the pharmaceutical landscape in Africa, opportunities and challenges, regulatory harmonization initiatives, market innovations in building business models to benefit both patients and pharma, special regional focus session on opportunities in the West, East and Southern African markets, local production, promoting northern and southern networks in pharmaceutical innovation and financing.
The conference’s keynote speaker will be Mrs Margareth Ndomondo-Sigonda, Pharmaceutical Coordinator at the African Union NEPAD Agency, which is leading the African Medicines Regulatory Harmonization Initiative. She will speak on “The African Medicines Regulatory Harmonization Initiative: The roadmap for pharmaceutical regulatory harmonization and implementation.”
Confirmed speakers at the event include Clifford Samuel, Vice President, Access Operations & Emerging Markets, Gilead Sciences, Inc; Nick Haggar, Head Western Europe, Middle East & Africa, Sandoz; Dr Solomon Nwaka, Director, African Network for Drugs and Diagnostics Innovation and Dr. Feng Zhao, Manager, Health Division, Human Development Department, African Development Bank along with representatives from National Drug Regulatory Authorities and Ministries of Health.
For further information, contact Miles Mudzviti on email@example.com.
(1) IMS Health (2012) Africa: a ripe opportunity, Understanding the pharmaceutical market opportunity and developing sustainable business models in Africa
EAHIC is organized by United Communications & Media (Africa), a B2B media company based in Herts, UK.
The conference’s objective is to identify and discuss opportunities for investment in the pharmaceutical sector across Sub Saharan Africa, increase awareness on how to facilitate and enhance Africa’s pharmaceutical capability and capacity to address healthcare needs, contribute to the employment agenda as well as promote collaboration in Africa’s nascent local pharmaceutical manufacturing industry within the public and private sectors.
The conference will be held March 26 -27, 2013 with the full support and participation of Mrs Margareth Ndomondo-Sigonda, Pharmaceutical Coordinator, NEPAD Agency, a technical arm of the African Union (AU).
Supporting organisations include the Federation of East African Pharmaceutical Manufacturers Association, the Southern African Generic Medicines Association, both amongst the founding members of the newly formed Federation of African Pharmaceutical Manufacturers Association.
For more information, visit www.eahic.com.
SOURCE: Euro-Africa Health Investment Conference