News / Health
Zimbabwe set to start producing insulin locally
08 Jun 2013 at 22:40hrs | Views
Zimbabwe could soon be producing insulin locally after investors from the United Arab Emirates (UAE) expressed interest in partnering local pharmaceutical companies in manufacturing the drug that is critical to the survival of diabetics.
The Deputy Minister of Health and Child Welfare Dr Douglas Mombeshora last week told local pharmaceutical sector representatives who had sought audience with him that a number of UAE investors had expressed interest in the venture.
"We understand that players in the local pharmaceutical sector are struggling due to a number of factors. Most of these companies are facing closure and as a ministry we have been looking at ways of how we can assist them. One of the ways we decided on was luring foreign investors into partnerships with local companies and we are glad to report that UAE's major pharmaceutical manufacturers have in principle agreed to assist the local companies that are interested in manufacturing insulin," he said.
Local pharmaceutical companies have seen their capacity utilisation plummeting over the past two years on the back of a massive increase in the importation of drugs from countries such as India and South Africa.
For months the companies have been calling on Government to institute measures that protect them.
The imported drugs are generally cheaper than locally manufactured ones, a development with locals say has negatively affected on their operations.
Most of the companies have downsized while others have shut shop. One of the country's drug manufacturers, Caps Holdings, faces a bleak future after the High Court Sheriff last week ordered the sale of some of its assets to pay money owed to CBZ Bank.
In last week's meeting, Dr Mombeshora highlighted that there was scope for local companies to partner the UAE investors beyond the production of insulin.
Insulin is an essential drug that treats diabetes by controlling the amount of sugar in the blood.
The Deputy Minister of Health and Child Welfare Dr Douglas Mombeshora last week told local pharmaceutical sector representatives who had sought audience with him that a number of UAE investors had expressed interest in the venture.
"We understand that players in the local pharmaceutical sector are struggling due to a number of factors. Most of these companies are facing closure and as a ministry we have been looking at ways of how we can assist them. One of the ways we decided on was luring foreign investors into partnerships with local companies and we are glad to report that UAE's major pharmaceutical manufacturers have in principle agreed to assist the local companies that are interested in manufacturing insulin," he said.
Local pharmaceutical companies have seen their capacity utilisation plummeting over the past two years on the back of a massive increase in the importation of drugs from countries such as India and South Africa.
The imported drugs are generally cheaper than locally manufactured ones, a development with locals say has negatively affected on their operations.
Most of the companies have downsized while others have shut shop. One of the country's drug manufacturers, Caps Holdings, faces a bleak future after the High Court Sheriff last week ordered the sale of some of its assets to pay money owed to CBZ Bank.
In last week's meeting, Dr Mombeshora highlighted that there was scope for local companies to partner the UAE investors beyond the production of insulin.
Insulin is an essential drug that treats diabetes by controlling the amount of sugar in the blood.
Source - Sunday Mail
