Madagascar - Health - Opportunities

Like other major African pharmaceutical producers, Madagascar benefits from the growth opportunities in pharmaceuticals. Local expertise makes this market even more attractive to foreign investment. To attract FDI, institutional adjustments will be made depending on the nature of the investment project within the new Industrial Emerging Zones (IEZ).

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Madagascar's technical expertise is a major asset in the pharmaceutical industry. Recognizing this opportunity, Pierre Fabre Laboratories, through its foundation, invested in November 2018 in the construction and equipping of the Faculty of Pharmacy at the University of Antananarivo. By strengthening local capacity and staffing in the field, the French pharmaceutical giant will contribute to attracting other investors to the sector.

Furthermore, Madagascar benefits from regional free trade agreements, being a member of SADC and COMESA. This represents nearly 900 million potential consumers. Internationally, the island nation has access to the American market through the African Growth and Opportunity Act (AGOA), the European market through the Economic Partnership Agreement (EPA), and to several countries that have granted it a Generalized System of Preferences (GSP).

Pharmaceutical production

At the Malagasy government level, improvements have been made to promote local production. Any application to open a manufacturing facility must include a file demonstrating that the investor will adhere to good manufacturing practices recognized by the government. Authorization is granted by the Ministry of Health after joint review by the Ministry of Trade, the Ministry of the Environment, and the Ministry of Water.

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The distribution

For distribution, in addition to a Marketing Authorization (MA) granted by the Madagascar Medicines Agency (AgMed), a dossier review and a decision by the National Medicines Registration Commission are required. To encourage domestic companies, registration fees are significantly lower than those for imported medicines. According to AgMed, the dossier review fees for obtaining an MA are €200 for a foreign medicine and 164,000 Ariary (approximately €36) for a locally manufactured one.

Pharmerging-s, the future of the pharmaceutical industry

Like other major African pharmaceutical producers, Madagascar benefits from the growth opportunities of emerging markets. Indeed, alongside population growth, pharmaceutical consumption in emerging countries is increasing rapidly. Pharmaceutical giants like Sanofi generate over 331 million TPH of their sales in emerging countries, compared to 241 million TPH in Europe. Strong growth in the pharmaceutical industry is therefore expected in these countries by 2022. However, the need for medicines is enormous in Madagascar. Thanks to Malagasy technical expertise, a major asset in the pharmaceutical industry, this market is very attractive for foreign investment. At IMRA, 100 million TPH of researchers are Malagasy.