Jun 16, 2023 06:37 AM

BUSINESS

Chinese Drugmakers March Into Africa Seeking New Business Foothold

By Bao Zhiming and Han Wei

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Building a presence in Africa will help China’s independently developed pharmaceutical products to enter the global market

Building a presence in Africa will help China’s independently developed pharmaceutical products to enter the global market

Chinese pharmaceutical companies are gearing up a foray into Africa with multibillion-yuan investments in local drugmaking facilities, lured by the unmet health-care needs of the world's fastest growing and most underserved continent.

Wuhan Humanwell Hi-tech Industry Co. Ltd. is the latest Chinese drugmaker to unveil plans to build a factory in Africa. The Shanghai-traded company plans to open a plant to produce mainly psychiatric medications in Morocco in North Africa and a commercial company in Chad, a person from Humanwell’s Africa operations told Caixin.

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