Uganda has agreed with the Chinese pharmaceutical company Guangzouh Wondfo Biotech Co to invest in $50M in the country.
The company deals in the manufacture and sale of biochemical reagents, medical products and diagnostic test kits diseases like HIV/AIDS, Malaria, TB and others.
Founded in 1992 in Guangzhou China and listed in 2015 on Shenzhen Stock Exchange, the company has expanded and has manufacturing facilities in homeland China, United States of America, Mexico and Kazakhstan.
According to Uganda Media Centre, the company plans to invest $50M USD in Uganda’s pharmaceutical industry to manufacture testing kits which the country has been importing.
“Guangzhou Wondfo Biotech Co: the company is to invest in a pharmaceutical facility to manufacture diagnostics kits for HIV/AIDS, Malaria, TB and other POC diagnostic technology.” Said Uganda Media Centre in a tweet.
The company has already been given license by the Uganda Investment Authority – UIA and is yet to set a plant in the country.