The Daily News Reports that the government has set its sights on reviving Datlabs and CAPS by engaging India and the United Arab Emirates partners.
Datlabs, a Bulawayo based Pharmaceutical company together with its Harare counterpart CAPS were the biggest players in the Pharmaceutical Industry. Zimbabwe needed not to export many drugs as the Pharmaceutical Industry was healthy because of these 2 giants.
Today Zimbabwe imports almost 80% of its drugs mainly from India, because the 2 giants have suffered a huge blow from the prevailing economic demise and foreign currency shortages. The government is now looking for investor from India and UAE.
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Health and Childcare Minister Obadiah Moyo said
We want to revamp and capitalise our manufacturing industry startting with CAPS and companies that are there like Datlabs, Plus Five and Varichem.
Zimbabwe annual drugs needs are in access $400 a burden that can be eased if the pharmaceutical industry was performing well.
More: Daily News