Global healthcare company Johnson & Johnson will increase its investment in South Africa over the next three years and is looking to boost its investment in the sub-Saharan African region, thus paving the way for other multinationals to follow suit, according to the Minister of Trade and Industry, Dr Rob Davies.
“There are many opportunities and a growing market in the pharmaceutical sector and Johnson & Johnson has taken the lead in seeing the African story. In these economically trying times the department of trade and industry (dti) will continue working with the company and identifying generic manufacturing opportunities for the rest of the continent,” said Davies.
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Speaking at the official launch of the newly refurbished Johnson & Johnson pharmaceutical manufacturing plant in Cape Town on Tuesday, Davies pointed out that government was still committed to working with foreign investors as well as improving services to investors by addressing regulatory issues and increased incentives. He reiterated that the dti was looking to accelerate efforts to move into more value-added production activities including advance manufacturing in pharmaceutical sectors. Johnson & Johnson Cape Town site leader, Alex Granados, commented that the company had brought new efficiencies and technologies into the manufacturing site as part of its upgrades. “We have now created a footprint where we can double our current jobs headcount of 130 in the next five years and up our current production capacity,” he said. Area managing director for Johnson & Johnson in sub-Saharan Africa, Makis Kosmatos, said the company had ambitious plans to grow its business in sub-Saharan Africa. “With local manufacturing, the right products and our great people, we are confident that we will realise our ambition of tripling our business within the next five to seven years,” he said. |
