Home » Health and Fitness Articles » CEO Jean Pierre Maingard Believes Gulf Drug Company Has Grown To Become a Business Dedicated To Making Essential Pharmaceuticals Available At Affordable Prices in Healthcare Global
CEO Jean Pierre Maingard Believes Gulf Drug Company Has Grown To Become a Business Dedicated To Making Essential Pharmaceuticals Available At Affordable Prices in Healthcare Global
With its total drug market estimated at $3 billion and expected to rise to $4.2 billion by 2013 South Africa is one of the key markets for overseas corporations to enter the African continent.
SAN DIEGO, CA, June 23, 2011 /Health and Fitness PR News/ -- With its total drug market estimated at $3 billion and expected to rise to $4.2 billion by 2013 South Africa is one of the key markets for overseas corporations to enter the African continent, with many advantages in terms of having a functioning regulatory body and a robust domestic pharmaceutical manufacturing sector. However, finding a fast track through the nail-bitingly slow African red tape is a priority for GDC, says Maingard.
"We make a point of holding stock of the products that are in the greatest demand in the territories we serve. For example if we get an urgent order of co-trimoxazole from Gaborone or Dar es Salaam, we can supply it in a couple of days direct from the factory."
There are other advantages for a smaller player in a large market. GDC maintained its growth curve right though the recession. "The last couple of years have been our best ever. I think people trade down in a downturn - it is like the clothing industry: the low and mid price companies do well." When South Africa introduced single exit pricing in 2004, meaning that discounting and premium pricing was no longer allowed, the industry was required to absorb supply chain cost increases.
Read the full report here.
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