French company to set up US$15 million pharmaceutical plant in Zambia

FRENCH Pharmaceutical manufacturing company, Pharma Development, has announced plans to set up a Pharmaceutical manufacturing plant in Zambia at a cost of US$15 million.

Briefing journalists in Lusaka this morning, Pharma Development President Dr. Mario Giron says the company is looking at possibilities of entering the African market by setting up a pharmaceutical manufacturing plant in Zambia.

Dr. Giron says Zambia is a key and strategic market which the company can use to service the Southern and Eastern African regions.

He says his company is working towards strengthening its international presence and is in this regard actively prospecting new markets.

Dr. Giron says they are talks with relevant authorities and potential partners in Zambia, and that so far everything is looking very promising.

He says they are currently observing all legal requirements for this investment to take effect, while actively engaging key decision markers to see how best Pharma Development’s presence in Zambia can be facilitated.

Speaking at the same event, Rufus Kagira a Representative from Ferngroove, a financial advisory group, said the investment environment is very conducive in Zambia and many more investors should continue investing in the country’s economy.