By Tendai Matunhu
Cospharm Investment, a Zimbabwean registered pharmaceutical company owned by a Namibian based Zimbabwean, Cosmas Mukaratirwa, is seeking Government support to set up a $2.6million medicinal drug manufacturing plant in Harare, Harare Post can reveal.
Speaking to this publication on condition of anonymity, a source within Cospharm revealed that the project is on its second phase. He said the company was asking Government to waiver import duty and taxes on all the equipment and units it intends to import from South Africa, China and India.
The company through a local subsidiary, Seasons Pharmacy acquired land in Bluffhill industrial area to build manufacturing plants for tablets, syrups, creams and ointments.
The source also revealed that the first phase Cospharm embarked on was to make the factory shell and offices, which were completed in April 2019 and they are now entering the second phase of setting up the plant.
“Cospharm is asking Government through the Medicine Control Authority of Zimbabwe to fast track their application to register their products,” said the source.
This publication also learnt that Cospharm wants to commission an injectable plant in 2022, then a penicillin plant by 2023 and finally an oncology plant by 2025. The pharmaceutical company wants to prioritise the seven therapeutic areas namely, cardiovascular, dermatology, anti-infective, alimentary tract and metabolism, analgesics, respiratory system and nutraceuticals.
The source informed that Cospharm is in compliance with the specifications of United States of America Food and Administration (USFA) and World Health Organisation current Food Manufacturing Practice (WHO cGMP) which makes it easy for it to export their products. The source also revealed that the company has global contracts with many organisations in India, Europe and South Africa for the manufacture of registered products.
Source said on the on-set of production, the company targets to employ 300 employees and the figure is expected to rise to about 1 500 by 2026.
Cospharm was advised by Ministry of Industry and Commerce to apply to Zimbabwe Investment and Development Agency (ZIDA) for consideration into the Special Economic Zone (SEZ).
He said Cospharm was advised to apply to be granted National Project Status by the Ministry of Finance and Economic Development which will allow them to import the requisite equipment duty free.
Currently Cospharm is in Botswana, Namibia and Zambia were it has distribution centres and pharmacies.
The establishment of this pharmaceutical company in Zimbabwe will ease the critical drug challenges dogging Zimbabwe.
