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The African Pharmaceutical Market is expected to grow by 10.6% on average, resulting in pharmaceutical sales of USD 45 billion by 2020. The growth in pharmaceutical sales is attributed to Governments striving to improve access to healthcare for their citizens as well as a very favourable economic and development outlook for the African continent. South Africa and North African countries boast of per capita incomes ranging between USD 6,000 and USD 11,000 and are important for our business as emerging markets.
The South African Pharmaceutical Market is valued at about USD 2.7 billion with the total market growing by 7.7% in value and 1.5% by volumes in FY 2016. Lupin’s South African subsidiary Pharma Dynamics (Proprietary) Limited (PD) clocked in revenues of South African Rand (ZAR) 835 million (Rs. 3,998 million) during FY 2016, growing by 10% over the previous year in ZAR terms. PD is the 4th largest generics player and ranks amongst the top 20 pharmaceutical companies in South Africa. The Company is also the largest cardiovascular player in South Africa, across all companies.