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The Pharmaceuticals Export Promotion Council of India (Pharmexcil) has invited member companies to meet a delegation from Ethiopia to discuss investment opportunities and incentives available for pharmaceutical products in the form of joint ventures/collaborations/expanding the operations into Ethiopia.
“The Industrial Parks Development Corporation (IPDC) of Ethiopia in collaboration with the Embassy of the Federal Democratic Republic of Ethiopia, New Delhi is organising an Investment Promotion event on January 23, 2023 in Hyderabad,” informed Uday Bhaskar, Director General, Pharmexcil.
The Delegation from IPDC will be represented by Berhan Alemneh, Investment Follow up and Support Department Head at IPDC, Zemen Junedin, Marketing and Communication Head, IPDC, Haregewoin Mirotaw, Investment Promotion Director, EIC (Ethiopian Investment Commission), Yodit Woldie, Advisor of IPDC CEO, Abdurahman Mohammed, Industrial Parks Advisor for the Deputy CEO of EIC and Mikyas Tadesse, Senior Promotion Expert, IPDC.
Ethiopia’s domestic pharmaceutical market could be worth over US$1 billion by 2025. Growth is expected to be driven by a rising middle income base and urbanisation at a rate of 5.4% per year. This will lead to greater access to healthcare as cities have better infrastructure and healthcare capacities.
Imports account for 65% to 75% of the Ethiopian pharmaceutical market and are primarily sourced from India (22%), Netherlands (20%) and Belgium (13%). Finished pharmaceutical products make up the bulk of the imports: about 80% of all the pharmaceutical products imported in 2019. The key products imported into Ethiopia include 60% anti-infectives, 9% central nervous system medicines, 8% water and acid base electrolytes and 5% endocrine disorder and contraceptives.
Some 60% of total pharma spend in Ethiopia is public and social sector related, making the Ethiopian Pharmaceutical Supply Agency (EPSA) the single most powerful buyer in the country. Key products purchased in the public and social sector are antivirals and antibacterials.
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