Research and Markets: Emerging Pharmaceutical Market in South Africa to 2017 - Proposed Introduction of New Drug Regulatory Agency (SAHPRA) to Accelerate Drug Registration Process

Press Release: Research and Markets – 4 hours ago

DUBLIN--(BUSINESS WIRE)--
Research and Markets (http://www.researchandmarkets.com/research/4tnkzb/emerging_pharmaceu) has announced the addition of the "Emerging Pharmaceutical Market in South Africa to 2017 - Proposed Introduction of New Drug Regulatory Agency (SAHPRA) to Accelerate Drug Registration Process" report to their offering.
South African Bid to Tackle AIDS Epidemic to Create National Pharmaceutical Market Boom
The South African pharmaceutical market is expected to almost double in the next six years due to profitable government contracts for HIV/AIDS and tuberculosis medications, according to the latest report from market analysts GBI Research.
The new report predicts that the South African pharmaceutical industry will grow from a value of $3.8 billion in 2011 to $7 billion in 2018, climbing at a Compound Annual Growth Rate (CAGR) of 9.2%.
Though it was once dismissed as low-profit, the country's pharmaceutical industry is now regarded as having great potential and is attracting the attention of some of the sector's big players.
To tackle South Africa's crippling problem with HIV/AIDS and TB, the government is awarding tenders that promise steady returns for two to three years to companies offering appropriate treatments.

The African nation has the highest proportion of people with HIV/AIDS in the world. According to figures from 2010, over five million residents have the virus and around 40% of deaths in that year were related to HIV/AIDS. To aid the fight against the epidemic, the government receives international support from organisations such as the Global Fund, the President's Emergency Plan For AIDS Relief (PEPFAR) and the EU.
The national government is also in the process of introducing a new regulatory body with the goal of speeding up the drug registration process. The South African Health Products Regulatory Authority (SAHPRA) will replace the current healthcare body, the Medicines Control Council (MCC), in a transition that is hoped to be complete within the year.
Companies Mentioned
- Aspen Pharmacare
- Adcock Ingram
- Cipla Medpro
- Sanofi
- Pfizer
- Roche
- Ranbaxy
- GlaxoSmithKline
- Merck & Co
- Novartis