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Nov
21
ragupathyrenganathan
Merck KGaA rolls out big plans for expansion in Africa
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Merck KGaA has been turning to emerging markets to deliver a much-needed boost to business, targeting China and Latin America as areas ripe for growth. Now the German pharma is turning its sails toward Africa, planning to expand its presence on the continent over the next 5 years as part of its comeback story.

Merck KGaA wants to double its workforce and sales in Africa by 2020, drawing on the region’s “entrepreneurial spirit and innovation power” to drive growth, the company said in a statement. The Darmstadt, Germany-based company has about 400 employees in 10 African countries and will increase this number to about 1,000. The drugmaker’s sales on the continent will climb to €500 million ($534 million) by 2020 from €200 million in 2015, with business in South Africa and surrounding countries such as Kenya, Angola and Mozambique pitching in, the company said.

While the sales number is not large, there is potential for significant growth on the continent. Africa’s population is growing by leaps and bounds and its middle class continues to expand, CEO Karl Ludwig-Kley said in a statement. Merck KGaA plans to cash in on this trend, offering more OTC drugs and focusing on conditions such as diabetes. “With our portfolio of healthcare and life science products, we are perfectly positioned to help address the needs of the people of Africa,” Kley said.

Courtesy – Fierce Pharma



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