Serenus Biotherapeutics sees large potential market in Africa
Tuesday, June 24, 2014
San Francisco’s newest pharmaceutical company is staking its future on a distant continent: Africa.
Serenus Biotherapeutics announced last week that it is forming with a mission to bring therapies to sub-Saharan Africa. The focus on the area may seem a bit unusual, since most pharmaceutical companies in the United States make drugs intended first for markets here and in other developed regions, such as the European Union and Japan.
Yet Africa is a largely untapped and potentially lucrative market, analysts say.
“African markets are gaining increased attention from international pharmaceutical companies as rising affluence and economic growth is driving demand for high-quality pharmaceuticals,” Mark Hollis, a health care analyst who studies Africa for IHS Global Insight, said in an e-mail.
- Health Care