Wednesday, 13 February 2008

The pharmaceutical sector in Zimbabwe: latest survey

According to Businesswire, Research and Markets has produced the “Zimbabwe Pharmaceuticals and Healthcare Report Q3 2007”. Among the items mentioned in the Report are the following points:
"The collapse of the Zimbabwean dollar, brought about by isolationist and internationally unacceptable government policy, has led to the dramatic fall of the country’s drug market. Consequently, the value of the Zimbabwean pharmaceutical market is significantly lower now than it was a decade ago, with little hope of significant recovery in the face of the continuation of the same policy regime. The drug market will also continue to perform below its potential, despite a sharp inflation-driven increase in drug prices.

... Rampant counterfeiting, difficult political and economic environments and the biased regulatory regime will continue to render imports minimal, as will the virtual collapse of the official healthcare system.

... Increasingly, traditional medicines and alternative treatments will become the only options for the bulk of the population on low incomes...

... foreign players - and multinationals in particular - will continue to sideline Zimbabwe in the face of the dire regulatory, political, economic and business environment. Even Indian generics imports might be in jeopardy if Novartis wins its challenge over the Indian patent law, which would prevent the manufacture and export of copy products. A glimmer of hope is provided by the Indian Venus Remedies strategic tie-up with a local distribution company".

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