India’s booming domestic pharma market expands 18%

INDIA – India’s domestic pharma market has registered a robust growth of nearly 18 percent. The country was hit by a devastating second wave of the COVID-19 pandemic and moved swiftly to vaccinate a majority of its population. According to India Ratings and Research (Ind-Ra), the 18 percent year-on-year revenue growth in India’s pharmaceutical market (IPM) in August was driven by improved sales in the non-covid product portfolio, while sales traction in the covid products remained stable. The COVID-19 influence portfolio contributed 37 percent to IPM for July 2021 moving…

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Walgreens invests US$970M to grab controlling stake in Shields Health Company

USA – Walgreens Boots Alliance, a global leader in retail pharmacy, has committed approximately US$970 million to acquire a majority stake in Shields Health Solutions to expand its specialty pharmacy business. The investment brings Walgreens’ total stake in Shield to 71%, and the company has an option to acquire the remaining equity interests in the future. The Illinois-based company had taken a minority stake in Shields in 2019. Founded in 2012, Shields Health Solutions helps hospitals provide specialty pharmacy services. Specialty pharmacies are designed to deliver medications with unique handling,…

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UAE holding company ADQ acquires pharmaceutical company Acino

UAE – ADQ, one of UAE’s largest holding companies with a broad portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, has entered into a definitive agreement to acquire Swiss-based Acino, a leading provider of high-quality pharmaceuticals focused on growth-leading markets across the Middle East, Africa, Latin America, Russia, Ukraine and the CIS Region. Acino is a leader in more than 20 therapeutic areas including gastroenterology, cardiovascular and pain relief for high-quality pharmaceutical products in novel drug delivery forms. With its own sales force and distribution partnerships,…

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IPO-Bound Healthtech Startup PharmEasy Appoints 5 Independent Directors

INDIA – Ahead of its planned initial public offering (IPO), API Holdings, the parent company of one of the largest healthtech startups PharmEasy, has appointed five independent directors to its board. The startup said in a statement that at present, it has a total of 12 board members including the newly-appointed five independent directors “The fresh appointments bring a great amount of cognitive diversity to the board, with luminaries from the world of public service, technology, pharma, medical fraternity, and the consumer sector,” the company said in a statement. As…

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Amethis invests in Zimbabwean pharmaceutical company Avacare

ZIMBABWE – Pan-African private equity firm Amethis has struck a new investment by acquiring a minority stake in Avacare Global, a regional distributor and manufacturer of pharmaceuticals and healthcare consumable products. Amethis’ investment aims to support Avacare in its strategic shift towards manufacturing while continuing to consolidate its positioning in existing and in new markets, and to strengthen governance. “We strongly believe in Avacare’s strategy to further expand its manufacturing activities in a context where the African continent must build-up and reinforce its production capabilities to address the increasing local…

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Experts call for reduced use of antimicrobial drugs in global food systems

KENYA – The Global Leaders Group on Antimicrobial Resistance has called upon all countries to significantly reduce the levels of antimicrobial drugs used in global food systems. This includes stopping the use of medically important antimicrobial drugs to promote growth in healthy animals and using antimicrobial drugs more responsibly overall. The call comes ahead of the UN Food Systems Summit which takes place in New York on 23 September 2021 where countries will discuss ways to transform global food systems. The Global Leaders Group on Antimicrobial Resistance includes heads of…

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Management software, “Bloom”, revolutionizes mPharma’s operations

GHANA – Bloom, a management software used by mPharma, has allowed the Ghanaian healthcare startup to coordinated pharmacies within its network sell medicines at the same price to customers, a remarkable milestone. Bloom enables mPharma to quickly standardized operations by networking the pharmacies through a technology platform. It has enabled the pharmacies to introduce mutti, a membership-based loyalty program and implement primary care services, including point of care testing and disease management solutions. In July, mPharma inked a deal with Absa bank Ghana to launch Absa Mutti, a platform that…

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PharmEasy likely to file draft papers for IPO by October

INDIA – India’s largest e-pharmacy platform PharmEasy is preparing to file its draft papers by October before coming out with an IPO (Initial Public Offering) later in the fiscal year. The development comes at a time when the company’s talks with Japan’s SoftBank for a new fundraise round have fizzled out. PharmEasy’s IPO plans are in progress but it is still in talks with new investors, negotiating a fundraise of US$200 – US$300 million at a valuation of approximately US$5.6 billion, sources have said. Soon after acquiring diagnostic chain Thyrocare,…

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Dis-Chem founder sells billions of shares and names new CEO

SOUTH AFRICA – The founders of Dis-Chem, Ivan and Lyn Saltzman, have begun reducing their majority shareholding in the pharmaceutical retailer. Over the coming months, they will sell between R5.4 billion and R5.5 billion (US$367.8 million) in shares to various investors. Dischem has also announced that Rui Morais will take over from outgoing CEO Ivan Saltzman, as company CEO with a focus to propel the company to future growth. The group announced that the family would sell 64.5 million shares (or 7.5% of the company) via an accelerated bookbuild offering.…

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Aurobindo Pharma, Cadila, 3 others in race to acquire Sterling Biotech

INDIA – Aurobindo Pharma, Cadila Healthcare, UPL and two other companies are in the fray to acquire bankrupt Sterling Biotech Ltd. through the liquidation process. The other two companies in the race are ACG Associated Capsules and Gland Celsus Bio Chemicals. Last month, the liquidator had invited bids for the liquidation process of Sterling Biotech to sell it as a going concern at a reserve price of Rs 548.46 crore. Lovkesh Batra, a member of the Mamta Binani-led liquidation team told media that the shortlist of entities looking to acquire…

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