NAIROBI, Kenya, Jul 19 – Pharmaceutical company, Pfizer has commissioned a Sh450 million hub for the East African region in response to the growing need to ensure a stable supply of secure and affordable products.
Managing Director for West and East Africa, Enrico Liggeri said the new hub will help in distribution by making the supply channels easier which will also help curb counterfeits.
“We had to divide importation from distribution because it was creating a conflict of interest and distorting the market place. By taking ownership of importation we have shortened the distribution chain while increasing competition which in turn will lower the price of pharmaceuticals for the consumer,” said Mr Liggeri.
He affirmed the company’s profit line is not affected by counterfeiters.
“Counterfeits have always been in the market and they grow with the market. They probably grow at a faster rate than the market. What they are doing is actually limiting the opportunity for growth, they are not directly impacted on our bottom line and they are a missed opportunity that is why they are not creating a loss on a balance sheet on a year on year basis,” he added.
Public Affairs and Communications Associate Director, Maggie Olele said the hub presents a platform to showcase Pfizer’s dedication towards improving economic growth through various enterprises in Kenya and the region.
Pfizer partnered with the Pharmaceutical Health Distributors to set up the hub which was first initiated in April this year.
The company currently provides Sh45 million in free drugs to the country yearly. The drugs are used to help in the fight against HIV/ AIDS as well anti- malaria medication.
The company is the world’s largest research based cooperation with 80 percent of its funding going to pharmaceutical research and development while 20 percent goes to its nutrition, veterinary services and customer care branches of business.