Malawi is soon expected to have a pharmaceutical manufacturing company that specialises in manufacturing high value products following discussions of a possible investment in the pharmaceutical industry which has come on the sidelines of the just ended UK-Africa Investment Summit.
Mutharika met in audience Emmanuel Katongole, Executive Chairman of Cipla Quality Chemical Industries Limited and discussed the possibility of setting up a pharmaceutical plant in Malawi. Katongole was accompanied by Dr. Mohan Kaul, Patron of the Malawi-UK Business Group (MUKBG).
The summit was held on January 20 in London, UK and President Prof Arthur Peter Mutharika was among 16 African leaders who attended the summit.
On Tuesday the president held an audience with the Malawi-UK Business Group (MUKBG) and the Private Infrastructure Development Group (PIDG).
MUKBG Patron, Dr Mohan Kaul told the Malawi media after the audience that the business group came to talk to the President about investment opportunities and one of the projects discussed was about the pharmaceutical manufacturing company.
He said about £50 million will be invested to have specialised drugs such as antiretroviral medicines for HIV, malaria and cancer medicines produced in Malawi.
The team is intending to visit Malawi in two or three months to kick start the project.
Cipla Quality Chemical Industries Limited Executive Chairman, Emmanuel Katongole who was also on a MUKBG delegation said the meeting focused on the possibility of manufacturing high value products in Malawi making the country a manufacturing hub for the region.
Cipla Quality Chemical Industries Limited is a pharmaceutical manufacturing company that specialises in manufacturing antiretroviral medicine, malaria, hepatitis and oncology in cancer medicines.
"In particular, we looked at the possibility of manufacturing Antiretroviral medicine for HIV, malaria, cancer, heart disease medicines and all high value medicines in a plant that meets World Health Organisation's (WHO) standards," he said.
The group has agreed with the Malawi leader of working with relevant organs within the government of Malawi and explore possibilities of doing the pharmaceutical manufacturing business.
Apart from the manufacturing plant, the audience also discussed investment in low cost housing and tourism.