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Adcock enters deal with MSD; also with regard to the cardiovascular therapeutic arena
Adcock Ingram entered into a five-year
deal to co-promote and distribute MSD’s
over-the-counter medicines and a selec-
tion of prescription medicines that are
registered in South Africa. Although the
financial effects of the transaction at this
stage will not be material, it should go a
long way in helping the country’s second-
largest pharmaceutical firm to grow, as
it will enhance its diverse portfolio and
broaden its pipeline of new products in
the marketplace.
Jonathan Louw, the chief executive
officer of Adcock, said working with
MSD (the world’s second-largest pharma-
ceutical company) would also boost their
credibility. ‘It (the collaboration) is strate-
gically important for us. The partnership
is in key areas where we already have
strength, meaning we will enhance MSD’s
ability to sell more products’, said Louw.
The products that will form part of the
deal are for various therapeutic areas such
as cardiovascular, women’s health and
asthma. These are drugs such as Renitec
for hypertension, Zocor for choles-
terol, Singulair for asthma, Maxalt for
migraines and over-the-counter products
including Dmazin, Drixine and Tinaderm.
Adcock’s business comprises pharma-
ceutical and hospital products. It has a
10% market share in the local private
pharmaceutical space. Stefan Oschmann,
the president for emerging markets at
MSD, said the collaboration was signifi-
cant for the NewYork-listed firm because
it was part of their growth strategy in these
markets. ‘Most pharmaceutical firms are
shifting towards the so-called emerging
markets because 90% of world pharma-
ceutical growth between 2010 and 2015
will be driven by emerging markets’, said
Oschmann.
‘It is the first deal within that stra-
tegic plan. We need to be a global and
local player. Governments are also impor-
tant customers and governments in these
markets want us to partner local compa-
nies to help grow their industries. They
want us to do more research and provide
better access to quality medicines and to
create employment’, added Oschmann.
According to a statement on its
website, MSD expects emerging markets
to account for more than 25% of its global
pharmaceutical and vaccine revenue in
2013, based on the implementation of the
company’s strategy in emerging markets.
Last month, Adcock said it was plan-
ning to generate 30% of its revenue from
outside of Africa within the next three
years.
Lizelle Wentzel, the healthcare
programme manager at Frost & Sullivan,
said it would appear that MSD would gain
the largest short-term benefit. ‘Adcock
Ingram is a well-recognised brand among
the average consumer so there would
seem to be a clear advantage to MSD in
leveraging off that brand’, said Wentzel.
‘There may also be a longer-term
component for MSD. They could be
considering a future scenario in which
products coming off patent could be
manufactured as generics under licence
with Adcock’, she added.
Wentzel said there were no obvious
short-term benefits for Adcock, but said
the company was probably thinking about
the future and considering their need to
build an international brand. ‘This sort
of partnership should help that process’,
she said.
In the year ended September, Adcock
generated a turnover of R4.1 billion while
net profit for the period was R789.8
million. MSD’s worldwide sales for the
year ended December were $27.4 billion
(R209 billion) while net income was
$12.8 billion.
Last year, Acock’s competitor,
Aspen Pharmcare, the largest drugmak-
er in Africa, bought rights to distrib-
ute GlaxoSmithKline products in South
Africa for a minimum of 20 years via
Pharmacare, its wholly-owned subsidiary.
Source:
Cape Times
, by Slindile Khanyile.
25 June 2010.
