ZAMBIA remains an attractive destination for local and foreign investment in pharmaceutical industry owing to its friendly political atmosphere, Health Minister Jonas Chanda has said.
Speaking during a conducted tour of a multi-million dollar local pharmaceutical manufacturing plant, Yash Life Sciences, a Company set on the sidelines of Kafue district, Dr Chanda who was impressed with its operations has asked for more investment in the manufacturing of essential medicines for quality delivery of healthcare.
He told Journalists that the company produces locally made essential medicines at a reduced scale of up to only 15 per cent and has since advised for upscaling of production to benefit the country’s fledgling economy.
The company which was set up at a total cost of 22-million United States dollars has provided over 200 jobs to the locals.
The manufacturing company also houses a modern laboratory with a 500-million storage capacity of all essential drugs, of these, 43 products are approved by the Zambia Medicines Regulatory Authority-ZAMRA. some of which are paracetamol, liquid capsules and penicillin to name but a few.
During the same undertaken tour of duty , the Minister urged the company to consider venturing into the production of COVID-19 vaccines and to also look across the frontiers, to allow for partnership with other foreign investors.COVID-19 is still here with us hence the need to look at locally made vaccines,” he said.
He said government loses huge chunks of money that is channeled towards the importation of medical supplies noting that locally manufactured essential drugs will uplift the economy.
Dr Chanda added that government appreciates the role that Yash Life Sciences play in supplementing government’s efforts in its quest towards the achievement of the universal health coverage agenda by the year 2030.
And Yash Life Sciences President Himanshu Patel said the company intends to increase its production capacity before it explores the international markets.
He has however, expressed hope that the pharmaceutical industry will soon flourish in the country.
Yash Life Sciences, began its operations on the Zambian soils somewhere in August 2019.