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Various investments&projects

Posted On Thursday, 24 January 2002 18:19 Published by
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PHARMACEUTICAL COMPANY Aspen Pharmacare is to invest between R50 and R100 million in the Eastern Cape over the next 12 months. Speaking at the opening of a R8-million oral contraceptive factory in East London, Pharmacare group chief executive Stephen Saad said "we have ambitious plans over the next year to significantly increase our manufacturing capabilities in order to take advantage of export opportunities.

PHARMACEUTICAL COMPANY Aspen Pharmacare is to invest between R50 and R100 million in the Eastern Cape over the next 12 months. Speaking at the opening of a R8-million oral contraceptive factory in East London, Pharmacare group chief executive Stephen Saad said "we have ambitious plans over the next year to significantly increase our manufacturing capabilities in order to take advantage of export opportunities." Pharmacare is already the largest generic pharmaceutical manufacturer in the country, producing more than 25 per cent of the government's tender volume
requirements, amounting to about 30 tons a day. Its new East London oral contraceptive plant - believed to be the most technologically advanced on the African continent - has the capacity to produce between 24 and 30 million oral contraceptive packs a year. Expansion plans for the Eastern Cape include long-run tabletting, toxic suites for oncolytics and other high potency products, sterile eye drops, suppositories and injectable manufacture. Saad said the company's Eastern Cape plants were also geared towards immediate production of generic anti-retrovirals used to treat the
symptoms of Aids sufferers. Pharmacare has already secured a lucrative joint venture agreement with an Indian-based company to supply raw materials for the local manufacture of generic anti-retrovirals.
This would enable huge cost savings, not only for South Africa, but for consumers throughout the continent.