Ethiopia Sets to Boost Local Pharmaceutical’s Industry Market Share to 47 Percent

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Ethiopia Sets to Boost Local Pharmaceutical’s Industry Market Share to 47 Percent
Ethiopia Sets to Boost Local Pharmaceutical’s Industry Market Share to 47 Percent

Africa-Press – Ethiopia. The government of Ethiopia has been exerting efforts to realizing its aspire of boosting the market share of local pharmaceutical industry to 47 percent during its middle term development and investment plan for the health sector, Health Minister Mekdes Daba revealed.

Prime Minister Abiy Ahmed inaugurated the Domestic Medical Supplies Production and Innovation Exhibition at the Millennium Hall in Addis Ababa today.

On the occasion, Minister of Health, Mekdes Daba highlighted government’s manifold initiatives being carried out to strengthen the health sector focusing on enhancing access to healthcare services.

She mentioned the concrete achievements registered in the areas of mothers’ and children health, prevention of transmittable and non-transmittable diseases.

However, the minister underscored the need to intensify efforts in advancing the pharmaceutical sector.

In this regard, the government has established mechanisms in its stride to make the country self-sufficient in medical and medicine supplies by creating health and drug policy and regulation, Mekdes noted.

She further mentioned about the encouraging achievement attained this year as the country was able to manufacture medical products valued at 75 million USD as part of its efforts to encourage local manufacturers, enhance import substitution and help the overall economy of the country. This consecutively has helped the country save 53.1 million USD.

According to the Minister, the supply of domestic products of medicine has reached 36 percent from the previous 8 percent due to the government’s support to encourage local manufacturers.

Furthermore, she revealed that the government has been taking measures with a view to boosting the market share of local pharmaceutical industry to 47 percent during its middle term development and investment plan for the health sector.

Mekdes also highlighted about the efforts being underway to tape Ethiopia’s potential in traditional medicine by combining the sector with the modern medical science through the appropriate scientific researches.

The Domestic Medical Supplies Production and Innovation Exhibition opened today aims at boosting the local medical equipment manufacturing sector among other related issues by showcasing Ethiopia’s healthcare investment opportunities as well as domestically produced medical products and services.

The exhibition, organized by Ministry of Health in collaboration with Local Medical Supply Manufacturing and Innovation sector associations under the theme “Our Health by Our Products,” will be open to visitors until the next Friday.

The opening ceremony was attended by prominent figures including Tagesse Chaffo, Speaker of the House of Peoples’ Representatives, Agegnehu Teshager, Speaker of the House of Federation, regional state presidents, Health Minister Mekdes Daba, local medical supply manufacturers and distributors, academics and senior officials from federal and regional research institutions.

Over 110 manufacturers from the sector are participating in the exhibition, which will also feature networking opportunities for investors, panel discussions, and other programs.

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