Cabinet approves pharmaceutical strategy
CABINET has approved the Ministry of Industry and Commerce five year pharmaceutical strategy aimed at reviving companies to improve availability of locally manufactured medicines at affordable prices.
Industry and Commerce minister Sekai Nzenza said the pharmaceutical strategy, which will run from 2021 to 2025, was birthed after realising that the local industry was contributing a paltry 12% to the medicine on the market. The country imports 88% of the life-saving drugs.
She said government institutions and hospitals will be encouraged to buy drugs from local manufacturers to boost production.
Nzenza noted that the thrust of the strategy was to increase drug production from 30% to 60% while revenue is expected to increase from US$31,5 million to US$150 million by the year 2025.