Shanghai Fosun Pharmaceutical (Group) Partners with IFC
Tuesday, June 06, 2023
Shanghai Fosun Pharmaceutical (Group) has announced an enhanced partnership with the International Finance Corporation (IFC) to support healthcare delivery and outcomes in West Africa.
As part of this collaboration, Fosun Pharma plans to establish a pharmaceutical production facility and distribution hub in Côtae d'Ivoire, aiming to strengthen healthcare services in the region.
IFC and Fosun Pharma subsidiaries have partnered to establish a manufacturing site near Abidjan for the production of anti-malaria drugs and anti-bacterial medicines. To support this project, IFC will provide two loans amounting to 50 million euros.
The partnership between IFC and Fosun Pharma is set to boost Africa's capacity to locally manufacture essential drugs, facilitating improved access to high-quality and affordable medicines for patients in the region.
The construction of the facility will be carried out in three phases, with the final phase expected to result in a capacity of 5 billion tablets per year. This collaboration aims to bolster the availability of vital medications in the region, thereby contributing to the battle against malaria and bacterial infections.
The project's primary objective is to enhance the accessibility of high-quality and affordable life-saving medicines throughout West Africa. This initiative will play a crucial role in improving health outcomes in a region that faces significant challenges related to infectious and other diseases. By establishing the manufacturing site near Abidjan, the project aims to provide a sustainable solution for meeting the region's medical needs.
