Chinese pharmaceutical companies are gearing up a foray into Africa with multibillion-yuan investments in local drugmaking facilities, lured by the unmet health care needs of the world's fastest-growing and most underserved continent.
Wuhan Humanwell Hi-tech Industry Co. Ltd. is the latest Chinese drugmaker to unveil plans to build a factory in Africa. The Shanghai-traded company plans to open a plant to produce mainly psychiatric medications in Morocco, in North Africa, and a commercial company in Chad, a person from Humanwell's Africa operations told Caixin.
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