A delegation of premier Ghanaian Pharmaceutical companies set out to Israel on June 25, to explore Israeli partnership opportunities for expanding the scope and scale of their pharma operations in Ghana, West Africa, and SSA.
The delegation was organized by the Israel Trade and Economic Mission, in partnership with the Ghana National Chamber of Pharmacy, and the CalBank PLC Pharma Scheme, and was facilitated by Mr. Edwin Acquah, who heads the Israel trade Mission’s Business Development and Trade activities for the pharma and health sectors.
This delegation comes to a head after a period of increasing interest, visits, and meetings between Ghanaian and Israeli Pharma stakeholders who are recognizing the potential of collaboration between the Israeli and Ghanaian Pharma Sectors.
For many years, Israel’s pharmaceutical and biotech sectors are highly respected with rapid expansion in many fields driven by a strong academic underpinning, world-class research facilities and high spending in research and development (R&D).
The Israeli pharma market is broadly composed of global generics manufacturers, such as Teva, Taro Pharmaceutical Industries, and Dexcel Pharma, and a host of smaller, R&D-driven biotech and health tech companies that are on the cutting edge of innovative health products and leading the charge in leapfrog medical technologies.
At the same time, Ghana is positioning itself as a Pharmaceutical Manufacturing hub to match the growing demand for locally manufactured pharmaceutical products for Ghana, the West African sub-region, and most importantly, for the imminent AfCFTA market. The industry, buoyed by the advantage of its associations, is working to expand its finished product portfolio to include advanced formulations, for generics and specialized products, as well as innovative drug delivery technologies.
With the establishment of the pharmaceutical enclave, the Ghanaian pharmaceutical sector is promoting contract manufacturing and research services as a growth industry area, and this makes the partnership between Ghana and Israel a natural and perfect fit both for local manufacture and supply of pharma, as well as the introduction of various biotech and health tech solutions to the Ghanaian, West Africa, and SSA Africa markets.
Included in the delegations’ itinerary were visits to Illumigyn, Nanox, Teva and SLE Logistics center, Federation of Israeli Chamber of Commerce, among others.
One of the delegates, a Ghanaian Pharma CEO; “the visit has been so informative and eye-opening; we have hope for very innovative opportunities to develop and mature soon.
The Israel Trade and Economic Mission to Ghana, the Ghana National Chamber of Pharmacy, and CalBank Pharma Scheme believe in the potential of Ghana-Israel Pharma collaboration. Increased local production of pharmaceuticals and improved access to medicines, medical devices, and health tech is something we are very excited about.
Click here to read our concise Pharma Sector Spotlight.
For more information please contact our lead on Pharma and Health, Mr. Edwin Acquah.