Cipla Quality Chemical Industries eyes African expansion
INTERNATIONAL – East Africa's largest pharmaceutical company plans to expand to 22 countries in Africa by the end of 2020, the company's chief executive officer (CEO) said on Wednesday.
Nevin Bradford, chief of Cipla Quality Chemical Industries Ltd., told the company's shareholders that the expansion is intended to target new markets.
Bradford said that the company completed the construction of 4,500 pallet-storage facilities, distribution centers and warehouses worth 12 billion shillings (about $3.2 million) last December.
With increased technology, the company has improved its production capacity from 80 million tablets per month to 130 million tablets per month over the last six months, according to the chief executive.
Bradford added that growth drivers such as the US president's Malaria Initiative, private market growth and product portfolio expansion have enabled the company to increase its production capacity.
"The company is undertaking an ambitious technology transfer program to enable new products to be manufactured at its facility including a paediatric treatment for malaria, a treatment to prevent tuberculosis in newly diagnosed HIV patients and a cure for Hepatitis C," he said.
Bradford added that the company has the ability to respond quickly to orders, and thus they are determined to fulfill the "mission to provide African solutions for Africans."