British firm to invest 50 mln pounds in MW to produce high value drugs

Written by  MBC Online

A British firm intends to invest 50 million pounds in Malawi to establish a pharmaceutical manufacturing company to produce high value drugs for HIV, malaria and cancer.

APM shaking hand with MUKBG Patron Mohan Kaul after the meeting APM shaking hand with MUKBG Patron Mohan Kaul after the meeting
22
January

 

According to Malawi News Agency (Mana), the Malawi-UK Business Group (MUKBG) patron Dr Mohan Kaul disclosed this intent to Malawi media after meeting Malawi President Professor Arthur Peter Mutharika on the sidelines of the January 20 UK-Africa Investment Summit.

 

Kaul said he talked with the Malawi President on investment opportunities in the country and one of the projects discussed was about the pharmaceutical manufacturing company, adding that about £50 million will be invested to locally manufacture specialised drugs.


The team is intending to visit Malawi in two or three months to kick start the project.

 

Cipla Quality Chemical Industries Limited Executive Chairman, Emmanuel Katongole, who was also on a MUKBG delegation, said the meeting focused on the possibility of manufacturing high value products in Malawi making the country a manufacturing hub for the region.

 

The company that specialises in manufacturing medicines for HIV, malaria, hepatitis and oncology.

 

“In particular, we looked at the possibility of manufacturing antiretroviral medicine for HIV, malaria, cancer, heart disease medicines and all high value medicines in a plant that meets World Health Organisation's (WHO) standards,” he said.

 

The group has agreed with the Malawi leader of working with relevant organs within the government of Malawi and explore possibilities of doing the pharmaceutical manufacturing business.

 

Apart from the manufacturing plant, the audience also discussed investment in low cost housing and tourism.

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