MeCure to produce first locally manufactured ‘Augmentin’ amid manufacturers’ exits

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MeCure Industries reports it has secured approval from the National Agency for Food & Drug Administration and Control (NAFDAC) to launch production of the first locally manufactured alternative Amoxicillin- Clavulanic acid tablets, Amoxyclav 625mg.

This announcement comes at a crucial time following the departure of major manufacturers of similar variants, positioning MeCure Industries as a key player in meeting the nation’s healthcare needs.

MeCure Industries also stated it has successfully completed its Beta-lactam plant, focusing on the production of essential antibiotics such as Amoxyclav, its brand of Amoxicillin- Clavulanic acid tablets.

The first locally produced Amoxyclav tablets

The company said production of Amoxyclav tablets commenced in the first quarter of 2024, with NAFDAC’s final approval obtained on April 30th, enabling the transition from import to locally produced status.

MeCure Industries has said it is fitting for its facilities to align with the standards set by the Beta-lactam plant. Additionally, the company has constructed a Corticosteroid manufacturing plant, nearing completion with a 90% rate achieved as of the first quarter of 2024.

Imported brands of the drugs range between N4000 and N8500 in some markets across the country.

  • For example, Indian Brands sell for between N4,000-N5000 more than double the price in 2022. Amoksilav (625mg), a European brand goes for between N13,000 to N15,5000 5 times the price a year earlier.
  • Fleming (625mg) goes for between N7000 and N85000 more than double the 2022 price.

MeCure Industries also reported it has embraced “innovative technolbytechnology” by launching a “state-of-the-art Track and Trace Solution,” becoming the first pharmaceutical manufacturing company in Nigeria to adopt this advanced system.

  • The co-chief Executive Officers of MeCure Industries, Mr. Arjun Udani and Mrs. Anderline Dukor, shared their insights on the company’s first-quarter performance.
  • Udani highlighted the financial results achieved during the period, with a 47% increase in revenue compared to the same period last year.
  • He also announced the securing of a seven-year Bank of Industry (BOI) facility, positioning the company for further expansion with favorable interest rates.

What you should know

In the wake of the departure of major manufacturers of Amoxicillin-Clavulanic acid variants from the Nigerian market such as GlaxoSmithKline (GSK) and Sanofi, the healthcare landscape faced significant challenges.

  • With the absence of these key players, the prices of Amoxicillin-Clavulanic acid brands surged, driven by fluctuating forex rates and inflationary pressures.
  • This sudden price hike placed a heavy burden on consumers and strained the healthcare system, as essential medications became increasingly inaccessible to many.

Nairametrics has monitored the situation, reporting on the escalating prices and the impact on the Nigerian market.

As foreign-manufactured brands departed the market, there was a growing need for viable alternatives to ensure continued access to essential medications for the Nigerian populace.

With MeCure Industries planning to introduce locally manufactured Amoxicillin-Clavulanic acid tablets to the market, Nigerians will anticipate a more competitive pricng for the drug









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Source link: Nairametrics

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