Ethiopia Pharmaceutical Factory is going to start building a new factory at an out lay of USD 100 million in Sebeta town. The factory is going to lay on 40,000 square meters land.

The newly to be built plant is said to be in line with international standard of good manufacturing standard (GMS). According to Mohammed Nuri (MD), this will give the company the opportunity to sell its products competitively in other countries and generate foreign currency.

Upon completion the factory will boost its number of employees to 1,500 from 600 – where it currently is.

The six months report of the current fiscal year prepared by Ministry of industry (MoI) shows performance of pharmaceuticals and medical equipment production capacity has reached 62 percent. Nonetheless the report by Ministry of trade for 2013/2014 fiscal year, the sector has failed to meet the target set for it. It generated only USD 64.3 million from the targeted USD 110 million.

According to Fortune the government has only managed to achieve 20 percent of its plan to source 50 percent of medical demand from local production by the end of Growth and Transformation Plan (GTP).

Source: Fortune