- Website: www.medis.com.tn
- Sector: Healthcare & Pharmaceutical
- Country of operations: Tunisia
The pharmaceuticals sector across Africa and the Middle East has long been dominated by multinationals, but that’s starting to change thanks to the emergence of local players offering good-quality products at affordable prices. One of those companies is Médis, which specialises in sterile products and dry forms, producing more than 200 generic products in various therapeutic classes. Products range from oral solid pharmaceuticals targeting chronic diseases such as diabetes and high blood pressure, to sterile injectable pharmaceuticals.
The company also produces branded medicines to treat health problems such as pain, allergies and gastric reflux.
With demographic and lifestyle changes fuelling growing demand for such products, CEO Lassaad Boujbel believes the sector offers excellent prospects for growth. “The branded generic sector is projected to grow at double digits and faster than the overall market over the next decade,” says Lassaad, who adds that his company is well equipped to keep pace with rising demand. “Médis has a fast-growing joint venture in Algeria and a promising exports business across Francophone Africa and the Middle East.”
“The industry is migrating towards more technical and sophisticated products. In order to remain a leader in the market, [we have] developed biotechnology and oncology products”
Lassaad Boujbel, CEO, Médis
The company’s strategy includes acquiring laboratories in Africa and expanding its workforce to help grow them and develop new products. “The industry is migrating toward more technical and sophisticated products,” says Lassaad. “In order to be competitive and to remain a leader in the market, the company has developed biotechnology and oncology products.”
Perhaps the biggest challenge facing Médis and other local players in the pharmaceutical industry is coping with competition from multinationals that can offer products at very low prices, reckons Lassaad. This makes it difficult for local producers to compete.
In spite of the challenges that await Médis, the company is aiming to be “… a Pan-African champion” in five years’ time.