Kenya’s Omaera Pharmaceuticals plans to spend Sh3.1 billion in the next three years for purchase and exclusive sale of the cancer and HIV drug, Lodonal, across East Africa.
In an agreement signed with the US-based specialty drugmaker, Immune Theraupetics, Omaera agreed to distribute and market the drug known for its non-toxic therapy for the management of cancer, HIV, autoimmune diseases and other inflammatory conditions.
Omaera Pharmaceuticals Managing Director Njoroge Keige said the deal would enable the 4.67 million HIV and Cancer sufferers across East Africa access the drug.
Under the terms of the agreement, Omaera will buy Lodonal at Sh65 per pill or Sh1,950 per carton with a minimum purchase commitment of over one million pills(Sh65 million) in the first six months and over 3.6 million pills(Sh234 million) in the second half of the first year.
The two drug companies agreed that Omaera would also buy 14.4 million pills (Sh936million) and the final batch of 28.8 million pills at Sh1.872 billion in the second and third years respectively.
Omaera, which was launched in 1993 as a locally-owned wholesaling operation, has subsidiaries in Uganda, Tanzania, Burundi and Rwanda.