In 2007, Dr Gogo founded Sproxil, a Mobile Product Authentication (MPA) company which enables consumers verify the authenticity of prescription drugs before purchase by using a mobile phone and free text message.

The Chief Technology Officer of the United States Government, Mr Todd Park, said at the event that the government was proud to honour immigrants, given their immense contribution to the development of the country’s economy.

“We are proud to recognise these leaders who work everyday to grow our economy, advance science and technology, and support their home communities,” Mr Park said.

The Champions of Change programme was created as an opportunity for the White House to feature groups of Americans – individuals, businesses and organisations – who are doing extraordinary things to empower and inspire members of their communities.

The laurel is one of many recent honours received by Dr Gogo and his team at Sproxil Worldwide.

The Country Manager of Sproxil Ghana, Osei Agyeman-Buahin, explained that the MPA solution combats counterfeits by providing consumers a way to verify that the product they buy is genuine, through the use of a mobile phone and simple text message.

“At point-of-purchase, users scratch a panel on the product to reveal a onetime-use code and text (SMS) the code to a mobile short code number. Within moments, a response is dispatched from our cloud-based system indicating the genuineness or otherwise of the item being authenticated. The user also gets a description of the product and a health tip,” he said.

“It’s an empowering solution that has gained a lot of attraction and a humbling degree of social impact in a growing number of countries,” the founder, Dr Gogo, stated.

Sproxil’s MPA solution also received worldwide acclaim earlier this year when it received the Patents for Humanity Award issued by the US Department of Trade.

‘Fast Company Magazine’ also ranked Sproxil as the Seventh Most Innovative Company in the World, ahead of Apple, Google, Pinterest and Safari. The company’s innovative MPA solution has proven to be a key success factor in the global fight against drug counterfeiting.

Though the technology can be used for any product, Sproxil’s application has first been deployed to address the need to combat counterfeit medication. Within the next quarter, the company is expected to launch brand protection services for two major global brands operating in Ghana.

Sproxil, a global leader of SMS-based Mobile Product Authentication (MPA) and intelligent brand protection which now operates in five countries.

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Adcock said in the six months to March headline earnings per share sagged 5 percent to 188c, placing the drug firm on line for its fourth year of poor numbers.

Earlier this year, the JSE-listed industrial services group, Bidvest, said it had plans to buy 60 percent of Adcock.

Bidvest said it had submitted a firm letter of intent to the board of Adcock Ingram board.

In the letter, Bidvest proposed to pay for cash portion of the 60 percent stake in Adcock Ingram by using its own resources.

Adcock Ingram admitted to receiving the letter of intent from Bidvest but later rejected the offer.

One analyst said these accounts will not be attractive to Bidvest, which loathes paying more for stakes in companies.

Its bid for Adcock was priced at between R62 and R64/share.

This was on condition that Adcock achieved headline earnings per share (HEPS) of 200c. But it only achieved 188c in the six months to March 2013.

Adcock on Tuesday said there was no new offer from Bidvest.

The firm also said it will no longer consider Bidvest’s $675 million offer.

Adcock said despite the tough operating conditions for its products and the weakening of the local currency, it had achieved “satisfactory” results.

The post Adcock Ingram Posts Poor Set Of Interim Numbers appeared first on Ventures Africa | .

The state-owned pharmaceutical company will manufacture key ingredients for AIDS drugs.

Bussiness Day (SA) reported on Friday that the department of science and technology’s director general, Phil Mjwara, said the withdrawal would delay the Ketlaphela project, but that many South African companies were interested.

The newspaper quoted Mjwara as saying the Lonza wanted to use the company’s resources in ‘other’ areas.

However, Lonza spokesperson Dominik Werner denied the allegations. He told the newspaper the withdrawal was because of commercial reasons.

“It is correct that we are not talking about direct investments any more for commercial reasons following our Focus & Deliver initiative,” Werner said.

“Lonza… continues to be interested in providing engineering expertise and services on a consulting basis.”

Ketlaphela is a joint venture between Pelchem, a state-owned company, and the Industrial Development Corporation. Ketlaphela is a joint venture between Pelchem, the only fluorochemical company in the southern hemisphere, and the Industrial Development Corporation (IDC). South Africa has the world’s second biggest fluorspar reserves, most of which is exported and beneficiated elsewhere.

At the launch of the initiative in February 2012, former science minister Naledi Pandor said Lonza would invest more than US$ 50 000 (R50 million) in the US$1.6million (R 1.6 billion) project.

A source in the medical fraternity who spoke on condition of anonymity told Ventures Africa that the withdrawal of Lonza was “likely to make the project off the rail.”

Close to 2-million people receive AIDS treatment at government clinics. This figure is expected to reach 2.5-million by 2015.

The government purchases most of the generic AIDS drugs from local manufacturers. The APIs used in these drugs are sourced primarily from India and China, leaving manufacturers vulnerable to supply shortages.

The post Swiss Investor Pulls Out Of SA Pharmaceutical Company appeared first on Ventures Africa | .

Business Day(SA) quoted an undisclosed source as saying: “I have heard from people in the market that a private equity firm is bidding. This bidder is Actis.”

London-based Actis is known for acquisition of loss making companies. However, it has so far kept the deal undisclosed.

In 2007, as part of consortium, Actis and Ethos bought Alexander Forbes and a division of Delta Electrical (SA) in 2005.

Bidvest currently owns about 2.54 percent of Adcock Ingram.

Bidvest is an international services, trading and distribution company, listed on the JSE, South Africa and operating on four continents. It employs 105 000 people worldwide, but its roots remain South African.

Adcock Ingram began as the EJ Adcock Pharmacy in Krugersdorp 120 years ago. Adcock Ingram was listed on the main trading board of the JSE in 1950 before it became a wholly-owned subsidiary of Tiger Brands and was subsequently delisted from the JSE in 2000.

After the unbundling from Tiger Brands, Adcock Ingram re-listed on the JSE in August 2008 at a share price of R33.50 with about 172.6 million ordinary shares in issue.

The company currently has a market capitalisation of about R9 billion ($966 million) and occupies a 10 percent share of the private pharmaceutical industry in South Africa.

The post Actis May Enter Race To Acquire Adcock Ingram appeared first on Ventures Africa | .

Cipla Medro shareholders on Wednesday approved the buyout offer from India’s Cipla.

The drugmaker said on Wednesday that when the deal is implemented Cipla Medro would delist from the Johannesburg exchange in September.

The company has raised the offer price from its initial proposal in last November to buy out its Johannesburg-listed Cipla Medpro.

Cipla Limited, India’s fifth largest drugmaker by sales, made a $512 million cash offer in February to acquire 100 percent ordinary shares of South African drugmaker at R10 ($1.13) per share.

Mumbai-based Cipla has over 30 manufacturing facilities across India and manufactures more than 2,000 products in more than 50 therapeutic categories.

With a turnover of over $1.4 billion, Cipla has a strong track record of partnering with local businesses in over 150 countries. One such successful partnership has been Cipla’s relationship with Medpro spanning almost two decades, which has resulted in Medpro becoming a leading pharmaceutical company in South Africa and, in doing so, has enhanced the “Cipla” brand throughout the region.

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Interestingly, none of the proposals are from Bidvest, which earlier indicated interest in the drugmaker’s stakes.

According to Adcock, no new proposal has been received from Bidvest Group Limited since its original proposal which was submitted on March 22, 2013 and lapsed on April 2, 2013.

The company said it would no longer ponder Bidvest’s $675 million bid for 60 percent of the drug maker.

It stated: “The board has previously stated that it will consider any proposal, made in good faith, which could serve to create value for Adcock Ingram shareholders and promote the interests of the Company. In this regard, the Board and management continue to explore all opportunities to create value for Adcock Ingram shareholders whilst remaining focused on executing the Company’s strategic plans.”

Adcock Ingram said its Board and Advisers are evaluating the proposals and that there was, as yet, no certainty that there will be a formal transaction would be proposed or concluded.

Last month, diversified industrial services giant, Bidvest’s offer of a stake in Adcock Ingram was rejected by the drugmaker’s chairman, Khotso Mokhele.

Mokhele told Reuters that Bidvest’s intention letter was approved by the Takeover Regulation Panel (TRP) on March 18 2013. This was before its’ submission to the Board of Directors of Adcock Ingram.

“An irrevocable unconditional guarantee for the cash component of the offer contained in the firm intention letter was timeously lodged on March 26 2013, with the TRP in accordance with the regulations in terms of the Companies Act.”

Bidvest advised shareholders that it is considering its position regarding the issues raised and inaccuracies contained in Adcock Ingram response.

The post Adcock Ingram Receives Proposals For Stake In Company’s Business appeared first on Ventures Africa | .

Officials will engage in two days of sessions aimed at determining how China and African countries can jointly tackle critical issues such as AIDS, malaria, schistosomiasis, reproductive health, access to lifesaving vaccines and non-communicable diseases.

These health issues disproportionately affect African countries and have also been major health challenges for China. At the roundtable, China’s Director General of the National Health and Family Planning Commission will join Health Ministers from Botswana and Ghana; leaders from the African Union; representatives from the United Nations and non-governmental organizations; and entrepreneurs and business owners from China and Africa.

“Indeed, China and Africa have a long history of collaborating on health, built on shared challenges, experiences and addressing similar issues,” said Hon. Rev. Dr. John G. N. Seakgosing, Botswana’s Minister of Health.

This roundtable comes as China and Africa mark the 50th anniversary of providing medical teams to Africa, with China also supporting African health personnel, infrastructure, malaria control and other programs such as scholarships for training health experts.

At this year’s roundtable, officials will discuss how to shape health cooperation between China and Africa and help achieve long-term, sustainable gains, such as strengthening health systems and addressing the shortage of healthcare workers.

“Africa’s future is closely linked with our own and improving health is a critical building block towards a common prosperity,” said Dr. Ren Minghui, Director General of the Department of International Cooperation at China’s National Health and Family Planning Commission.

Participants will also explore how China can help support Africa’s local production of health products. At the same time, African leaders will share expertise on areas where China can learn from Africa, such as around AIDS prevention and treatment, to help improve China’s efforts at home. Africa has been very successful in scaling up HIV treatment as well as prevention of mother-to-child transmission programs.

The roundtable sessions will be guided by discussion papers that draw on extensive research and discussion developed by the China-Africa Health Cooperation Taskforce, comprised of members of the Chinese government and leading technical institutions, with the support of international partners including the World Health Organization, United Nations Population Fund (UNFPA), UNAIDS, PATH, the Bill & Melinda Gates Foundation, Global Health Strategies Initiatives (GHSi) and other organizations.

This year’s roundtable is hosted by the Botswana Ministry of Health, the China Chamber of Commerce of the Ministry of Commerce and the Institute for Global Health of Peking University.

The roundtable series, organized by the Institute for Global Health and the China Institute of International Studies, began in 2009 as part of a China-led initiative to evaluate and improve its foreign assistance.

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African governments work anxiously to put capital into the healthcare sector. But the myriad of low tax receipts, growing healthcare costs, and other essential public expenditures complicate those efforts.

Sub-Saharan Africa’s healthcare market is primed to reach $35 billion by 2016 with a growing middle class and an improved economic outlook. The growth in spending remains insufficient to meet Sub-Saharan Africa’s health needs, says a retired group of doctors working their retirement years in hospitals in East Africa.

Sub-Saharan Africa bears 24 percent of the global disease burden though it only accounts for 11 percent of the world’s population. Ventures Africa previously covered the disturbing low nurse per capita ratio in East Africa and the opportunity it offered. Overall statistics on healthcare workers in Africa paint a similarly bleak picture where there are only 3 health care workers per 1000 persons in Sub-Saharan Africa.

Big donors continue to pour aid money into the Sub-Saharan African healthcare sector. Experts estimate that 25 to 35 percent of the region’s healthcare spending comes from non-governmental institutions (NGOs) and estimate that private capital investments only contributes 10 to 12 percent of the healthcare spending.

TLG Capital is one of the more entrepreneurial private capital firms playing a role in the space. The healthcare sectors has yielded strong returns, says Zachary Latif, Managing Director at TLG Capital. The sector is similar to most other sectors, he says, in that it is all about deal quality.

TLG applies a risk methodology, Mr. Latif says, considering factors that include (1) regional expansion opportunity, (2) government support, and (3) collateralization.

To help ease the path for private capital, many African governments can still upgrade their internal healthcare systems. Implementing a government-subsidized or employer-subsidized insurance program would ensure that more Africans are getting healthcare coverage and are able to pay the bill. “Western experience with employer sponsored healthcare programs raises questions,” says John, a doctor operating in Burundi, “but the concern is not the system but how do we get Africans – middle class or not – to our facilities for medical care…subsidized care is a part of that answer.”

Regulatory reform of subpar standards and enforcement of those reforms would also go far in creating better companies and strengthening those companies already operating at Western standards. McKinsey & Company proposed similar recommendations in a report in 2007 and also ranked Africa’s healthcare sector as more attractive to foreign investors than telecoms and infrastructure.

Things could be finally falling in line with the report. Low returns in developed markets, argues Mr. Latif, will cause a convergence of returns in Africa making more African sectors more attractive, including healthcare. As more investors look to Africa for boosting their portfolio returns, the healthcare sector will see more activity and capital.

The post African Healthcare Attracting Private Investors appeared first on Ventures Africa | .

This emerged late Thursday when world-class health care company Adcock Ingram, said it would no longer ponder Bidvest’s $675 million bid for 60 percent of the drug maker.

According to a Johannesburg-based analyst, who pleaded anonymity because he was speculating, told Ventures Africa if Bidvest were to insist on acquiring this stake in Adcock Ingram then an hostile takeover bid would ensure.

An hostile takeover is the acquisition of one company (called the target company) by another (called the acquirer) that is accomplished not by coming to an agreement with the target company’s management, but by going directly to the company’s shareholders or fighting to replace management in order to get the acquisition approved.

In 1999, Nedbank tried to buy Standard Bank in a hostile takeover bid because they had the financial backing of parent company Old Mutual and wanted the infrastructure that Standard Bank had in place.

But the takeover did not succeed after South Africa’s politicians like the former finance minister, Trevor Manuel, intervened.

It was during this time that the leadership abilities of Jacko Maree, the recently retired CEO of Standard Bank, became evident.

This week, industrials services group Bidvest said it would seek the support of the shareholders of Adcock Ingram, stating that shareholders should be given a chance to vote on its offer.

This was after Adcock Ingram rejected the bid, claiming it was thin in detail and that the board needed to make a decision on whether Bidvest’s move was good or bad for the company.

“Given that the Bidvest-imposed deadline has passed, the Adcock board does not currently have a firm offer to consider,” chairman Khotso Mokhele said in a statement. The Bidvest deadline was Tuesday this week.

Adcock has floundered operationally and share price-wise, in the face of stiff competition from rivals in the recent past.

However, it has said investments in factories and partnerships with international drug makers have positioned it well for development.

Bidvest is famous for acquiring underperforming companies that can gain from its wide distribution network and client base.

The post Bidvest In Possible Hostile Takeover For South Africa’s Adcock Ingram appeared first on Ventures Africa | .

This was despite the fact that the diversified industrial services giant’s offer of a stake in Adcock Ingram had been rejected this morning by the drug maker’s chairman, Khotso Mokhele.

In an interview with Reuters on Wednesday morning, Mokhele said the Bidvest letter of intent sent to them last week did not comprise a robust intention to make “an offer in terms of the Companies Act.”

“Only the board of directors of a company can propose a scheme of arrangement between the company and its shareholders and neither the Adcock Ingram board nor the independent board was approached by Bidvest, prior to submission of the Bidvest letter…,” Mokhele said, adding he had fundamental legal and material prudential concerns with the Bidvest letter.

“The Bidvest letter is currently nothing more than a non-binding proposal. This is cause for concern for the independent board as Bidvest’s actions have created expectations in the market regarding the likelihood of a transaction being concluded.”

However, late on Wednesday, Bidvest said the firm intention letter was approved by the Takeover Regulation Panel (TRP) on March 18 2013. This was before its submission to the Board of Directors of Adcock Ingram.

“An irrevocable unconditional guarantee for the cash component of the offer contained in the firm intention letter was timeously lodged on March 26 2013, with the TRP in accordance with the regulations in terms of the Companies Act.”

Bidvest advised shareholders that it is considering its position regarding the issues raised and inaccuracies contained in Adcock Ingram response.

The post Bidvest Calls For Adcock Ingram Investors To Vote Its $671m Offer appeared first on Ventures Africa | .