Indian drug company confirms interest in investing

UGANDA: Indian drug company confirms interest in investing

JOHANNESBURG, 16 Aug 2005 (PLUSNEWS) - Indian generic drug firm Cipla has confirmed its willingness to invest in Uganda following an invitation by the Ugandan Vice-President, Gilbert Bukenya.

Bukenya recently returned from a week-long visit to India, where he met with Cipla officials to conclude an agreement of cooperation covering anti-AIDS and malaria treatment.

A Ugandan newspaper, The Monitor, quoted Bukenya as saying, "India may be a developing country, but it has advanced in many fields that can benefit our people, especially in as far as drugs are concerned. We need cheap and effective drugs in Uganda and the only way we can achieve this is by attracting investors here."

India is the world's third-largest producer of generic drugs and a major exporter, while Cipla already exports a range of drugs to Uganda for diseases such as HIV/AIDS and malaria.

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