Indian drugmakers seeking access, investment in South Africa

Indian companies are showing growing investment interest in the South African pharmaceutical industry, according to Standard Chartered Bank local chief executive Gurchi Kadan, who stated: "the bank helped finance some of giant Indian conglomerate Tata's South African deals, and that seven or eight major Indian companies are planning to invest in South Africa."

Mr Kadan added: "the 50.0 million-rand ($7.7 million) Ranbaxy purchase of local pharmaceutical company BE-Tab, was just the start. We believe several Indian companies want to gain access to a South African distribution networks for the generic HIV and AIDs drugs they manufacture in India. Generics are still underused in South Africa, so Indian companies see a great opportunity to increase the flow of these drugs to the SA market as it is a proven way worldwide to reduce the enormous pressure on the costs of health care."