Under the African Continental Free Trade Area agreement, fragmented regulatory systems will be harmonised and intra-African trade in medicines and pharmaceuticals is set to grow. According to the World Economic Forum’s AfCFTA: A New Era for Global Business and Investment in Africa report, companies like Novartis are already taking notice of the growing opportunities African pharmaceuticals present. Any growth in the packaged medicines industry on the continent will not only be good for business — it will save lives. These go beyond packaged medicines to include building quality healthcare infrastructure and increasing capacity for vaccine manufacturing. Novartis is just one example of the immense investing potential in pharmaceuticals across Africa, and its strategy provides a blueprint for how to interpret and translate the AfCFTA’s impact on the sector into company-specific actions.

Source: The North Africa Journal February 06, 2024 19:49 UTC