PHARMACEUTICALS - African pharmaceutical technology foundation gets underway
The African Pharmaceutical Technology Foundation will expedite Africa's access to the latest pharmaceutical breakthroughs using both technology transfer and knowledge as pivotal aspects.
KIGALI, Rwanda (Planet Defence) – Today marks a significant leap forward in Africa's pursuit of a resilient and self-reliant pharmaceutical industry with the African Pharmaceutical Technology Foundation's signing of the host country agreement with the Rwandan Government, clearing the path for the Foundation's operationalization.
Additionally, the Foundation sealed a memorandum of understanding with the European Investment Bank, reinforcing their collaboration.
The African Development Bank Group's Board of Directors sanctioned the establishment of the African Pharmaceutical Technology Foundation as an autonomous entity in June 2022.
This Foundation, backed by substantial global and African technical and financial support, is pivotal to Africa's pharmaceutical sector. It stands as the first initiative of its kind fostering collaboration among public and private sectors in Africa, North America, Europe, and the rest of the developing world.
The Rwandan government played a pivotal role in anchoring the Foundation, bestowing upon it the status of an international agency. During the host country agreement signing in Kigali, Rwanda’s Minister for Foreign Affairs and International Cooperation, Dr. Vincent Biruta, highlighted the urgency in closing the vaccine equity gap between African countries and developed nations.
“To bridge this gap, it's imperative to invest in pharmaceutical production in Africa and other developing nations,” Biruta emphasized. He added, “Technology transfer and knowledge are pivotal. The new African Pharmaceutical Technology Foundation will expedite Africa's access to the latest pharmaceutical breakthroughs.” Biruta signed the host country agreement on behalf of the Rwandan government, while Professor Padmashree Gehl Sampath, interim Chief Executive Officer of the African Pharmaceutical Technology Foundation, signed for the Foundation.
Dr. Akinwumi Adesina, President of the African Development Bank Group, expressed that the establishment of the Foundation signifies Africa's commitment to building its own health defense system, comprising a thriving African pharmaceutical industry and quality healthcare infrastructure.
“Technology is the prime transformative tool that will enable the development of a competitive pharmaceutical industry essential for securing the health and well-being of Africa's people,” Adesina stressed. He added, “The African Development Bank is devoted to investing up to $3 billion over the next decade in pharmaceutical industry development, as part of our endeavors to industrialize Africa and reduce the continent’s reliance on imports.”
Gehl Sampath echoed, “The time has come to fortify Africa's pharmaceutical sector to serve the continent. The African Pharmaceutical Technology Foundation has a clear agenda and vision and is geared up to commence operations in January 2024. It's crucial to elevate the maturity of Africa's pharmaceutical industry by supporting local production and innovation capabilities, necessitating robust partnerships between local and international pharmaceutical companies and research institutions.”
Germany has been a staunch supporter of the African Pharmaceutical Technology Foundation, aligned with its strong commitment to local production in the region. Dr. Bärbel Kofler, Parliamentary State Secretary in Germany’s Federal Ministry for Economic Cooperation and Development and African Development Bank Group Governor, expressed their privilege in serving on the Foundation’s Board of Directors.
“My government is committed to supporting the African Pharmaceutical Technology Foundation through a strong partnership, sharing values and aspirations for a healthier and safer Africa.”
Global partners, including the World Health Organization (WHO) and the World Trade Organization (WTO), have lauded the Foundation’s creation.
WHO Director-General Dr. Tedros Adhanom Ghebreyesus affirmed, “The World Health Organization is proud to support the African Pharmaceutical Technology Foundation in its mission to enhance access to safe and effective medicines for Africa. Health is a human right integral to development and sustainability.”
WTO Director-General Dr. Ngozi Okonjo-Iweala pledged support for the African Pharmaceutical Technology Foundation, recognizing its potential to transform the pharmaceutical industry in Africa and contribute to health equity across the continent. “Let’s collaborate to make the Foundation an inspiring African success story.”
The Foundation’s efforts gained momentum with the signing of a memorandum of understanding between the Foundation and the European Investment Bank. This collaboration aims to mobilize new financing instruments to address market failures and attract pharmaceutical investments across Africa. Both entities will leverage their influence to attract more public and private multilateral financing into pharmaceutical production on the continent.
The European Investment Bank will collaborate on the Foundation's regional biosimilars program and facilitate the establishment of active pharmaceutical ingredients parks in specific sub-regions of Africa.
Gelsomina Vigliotti, Vice President at the European Investment Bank, stated, “The European Investment Bank is committed to collaborating with partners to bolster public health and health innovation across Africa and globally. We are delighted to support the vision of the African Pharmaceutical Technology Foundation.”
*Source - African Development Bank