Fosun Pharma and IFC Partner to Improve Access to High Quality Medicines in Africa

07 June 2023 | Wednesday | News

To support stronger healthcare delivery and outcomes in West Africa, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (Fosun Pharma or the Company, stock code: 600196.SH; 02196.HK) today announced a deepening partnership with IFC to help the company build a pharmaceutical production facility and distribution hub in Côte d'Ivoire.
Fosun Pharma announced a deepening partnership with IFC

Fosun Pharma announced a deepening partnership with IFC

Under the partnership, IFC will provide subsidiaries of Fosun Pharma with two loans totaling 50 million euros to support the construction of a manufacturing site near Abidjan to produce anti-malaria drugs and anti-bacterial medicines. The facility, which will take place in three phases, is expected to have a capacity of 5 billion tablets annually after phase 3 completion.

The project will improve access to quality, affordable life-saving medicines across West Africa, contributing to better health outcomes in a region that contends with heavy loads of infectious and other diseases. The project will also facilitate medical and manufacturing knowledge transfer to Africa, supporting the long-term growth and strength of the wider region's health sector.

According to the World Health Organization, sub-Saharan Africa accounts for more than 95 percent of global malaria cases and deaths. While addressing these public health challenges,the region is facing the task of numerous other public health challenges.

"We are glad to be supported by IFC to localize pharmaceutical manufacturing and distribution in Africa," said Mr. Wu Yifang, Chairman of Fosun Pharma. "Since 2006, IFC has repeatedly provided supports to Fosun Pharma, which is committed to ensuring the continuous accessibility and affordability of pharmaceutical products and improving the resilience of healthcare supply chains in the region."

"Strengthening Africa's healthcare infrastructure and capabilities is absolutely essential for the continent's future social and economic development, especially in the wake of COVID-19," said Mr. Sérgio Pimenta, IFC Vice President for Africa"IFC's partnership with Fosun will increase Africa's ability to manufacture essential drugs locally, helping patients more easily access high-quality, affordable medicines."

As the first Chinese drug brand widely recognized in Africa, Artesun® (Artesunate for Injection), independently developed and manufactured by Fosun Pharma, has treated over 56 million patients with severe malaria worldwide by the end of 2022, which is now a prime example for innovative medicinal products developed in China serving the world. As one of the world's largest antimalarial drug manufacturers, Fosun Pharma is a major antimalarial drug supplier to the Global Fund, UNICEF, WHO and national drug procurement centers in Africa, and has built a mature sales network and possessed upstream and downstream customer resources in the English-speaking and French-speaking regions of sub-Saharan Africa.


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