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Tropical Journal of Pharmaceutical Research
Pharmacotherapy Group, Faculty of Pharmacy, University of Benin, Benin City, Nigeria
ISSN: 1596-5996
EISSN: 1596-9827
Vol. 10, No. 4, 2011, pp. 523-529
Bioline Code: pr11064
Full paper language: English
Document type: Review Article
Document available free of charge

Tropical Journal of Pharmaceutical Research, Vol. 10, No. 4, 2011, pp. 523-529

 en Small and Medium Enterprises and Biopharmaceutical Innovations in Africa: Challenges and Prospects
Awaritoma, Oghenefejiro; Oyekanmi, Nash; Erah, Patrick O & Isokpehi, Raphael D

Abstract

Biopharmaceuticals can be described as medicines or medicinal products manufactured through biotechnological processes with links to biological sources especially those of live organisms or their active components. The biopharmaceutical industry is presently experiencing tremendous revenue growth rates projected at more than $167 billion worldwide in 2015. There are more than 500 biopharmaceutical products that have been approved with about 400 presently marketable in the United States and European markets. The full potential of biopharmaceutical, biotechnology, genomic, genetic and biogeneric compounds is best realized in small entrepreneurial firms which have the capacity for creativity, risk, flexibility and iteration that no large biopharmaceutical entity can match. Although there are challenges facing African Small and Medium Enterprises (SMEs) in biopharmaceutical industry, the prospects on the other hand can be lucrative taking into cognizance Africa’s ever increasing population and the need for affordable health care. To facilitate the contribution of SMEs in Africa, this article presents a perspective on the prospects of African SMEs in biopharmaceutical innovations such as new products, processes and services. The roles of SMEs in the global biopharmaceutical industry are reviewed. Additionally, selected critical factors to accelerate the contribution of African SMEs in global biopharmaceutical innovation are described. Finally, the prospective areas for biopharmaceutical innovation in Africa include research and development, marketing, workforce development and contract manufacturing.

Keywords
Small and Medium Sized Enterprises, SMEs, Biopharmaceuticals, Research and Development, Contract manufacturing

 
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