- Website: www.pharmivoirenouvelle.com
- Sector: Healthcare & Pharmaceutical
- Country of operations: Côte d’Ivoire
Full of solutions
Pharmivoire Nouvelle is the only company in Côte d’Ivoire that’s able to produce soft-packed, intravenous solutions locally. As a result, its packages of glucose, sodium chloride and sodium lactate solutions, as well as its distilled water, have become vital to healthcare provision in the country. “These solutions are considered an essential generic drug by the public health authorities and therefore hospitals must have them at all times,” says Managing Director Peter Aouely.
Pharmivoire Nouvelle supplies the solutions to a network of hospitals and clinics across Côte d’Ivoire. Nationwide demand, however, far exceeds the company’s limited production capacity and it has only been able to meet 5% of the domestic demand to date, with the other 95% supplied through imports. To help it increase its share of the market, the firm has raised equity and debt funding from investors including Paris-based Investisseurs & Partenaires, specialists in Sub-Saharan Africa.
“The underlying trend in our industry is the migration towards more intensive use of technology”
“The biggest opportunities for the company in recent years have been to increase production capacity, strengthen our position as a key local player and seize part of the market share taken by imports,” says Peter. “In order to capture this growth opportunity, the company had to raise financing to invest in a new plant.” That plant will have a production capacity three times the size of its current one, which will allow the business to serve both the local and the wider regional market. Pharmivoire Nouvelle now plans to expand its range of intravenous fluids and become a market leader in the francophone West Africa region.
- 5% - The proportion of the domestic market that the company has been able to supply
As the company expands, it expects technology to play an increasingly important role in operations. “The underlying trend in our industry is the migration towards more intensive use of technology over manpower. This leads to higher levels of productivity,” says Peter. “It will also make new mixtures possible, such as adding active ingredients into the solutions.”
It would seem that Pharmivoire Nouvelle’s importance to Côte d’Ivoire’s healthcare system can only continue to grow.