Zim’s Pharmaceutical Development Strategy flourishes

Zim’s Pharmaceutical Development Strategy flourishes

By Tichaona Kurewa

THE Zimbabwe Pharmaceutical Development Strategy is flourishing in the wake of revelations that exports surged to nearly half a million United States dollars last year.

The pharmaceutical industry which is strategic in meeting the medical requirements of the country has been identified as one of the priority sectors earmarked for resuscitation in the Industrial Development Policy to strengthen local production.

Varichem Pharmaceuticals marketing manager, Mr Dennis Choguya told ZBC News in Victoria Falls that the sector is pushing about US$4 million worth of medical drugs into the region, with capacity utilisation hovering around 60 percent.

“We have seen an increase in terms of pharmaceutical products that we are exporting predominantly to SADC countries. Our export destinations include South Africa, Namibia, Botswana, Swaziland, Malawi, DRC and Mauritius.

“There has been an increase of 30 to 40 percent in terms of dollar value. Drugs being exported include flu remedies, zinc sulphates and penicillin,” said Dennis Choguya, Varichem marketing manager.

Chairperson of the Parliamentary Portfolio Committee on Budget and Finance, Honourable Matthew Nyashanu noted that the development confirms that government has put in place favourable policies to increase exports.

“The issue of exports will assist us by ensuring that we have an enhanced balance of payment in our country, in that we are able to reserve forex for other imported imports. Exports will ensure that even our currency will stabilise and the general stability of our economy,” he said.

The Zimbabwe Pharmaceutical Development Strategy is designed to take the pharmaceutical industry to the next level by promoting local production and exports.

The post Zim’s Pharmaceutical Development Strategy flourishes appeared first on ZBC NEWS.

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