French pharmaceutical firm expands to Africa

Pascal Brière, President of Biogaran. Photo ©Biogaran

Pascal Brière, President of Biogaran. Photo ©Biogaran

From OKORO CHINEDU in Lagos, Nigeria
LAGOS, (CAJ News) - BIOGARAN, a French pharmaceutical company, has acquired Swipha, a Nigerian company that manufactures and distributes pharmaceutical products.
This is seen as an important step forward in the internationalisation of the French company.
Biogaran’s international expansion strategy is to create synergies by bringing its expertise and investment capacity in production tools to existing structures, commented Pascal Brière, President of Biogaran.
“Swipha’s know-how, network and reputation have immediately convinced us that it was the right partner for us. Likewise, Nigeria quickly came out as the best entry point on the African continent with its strong population and solid economic fundamentals, including a very dynamic market economy.”
Swipha’s portfolio is mainly focused on three families of products:anti-anxiety and tranquillizers, antimalarial drugs and antibiotics, which treat Nigeria’s most widespread infections and health issues.
Swipha employs 300 people locally and generated record sales of N4 billion (approximately €20 million) in 2012.
Beyond its production unit, the company also has a wide distribution network covering most parts of Nigeria, Africa’s most dynamic country, with more than 184 million inhabitants in 2016 according to the International Monetary Fund. 
– CAJ News

 

Short URL: http://cajnewsafrica.com/?p=18943

Posted by on Mar 24 2017. Filed under Africa & World, Featured, Finance, Investing, National, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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