Adcock Ingram shares rise after securing state HIV drug contract
The pharmaceuticals group said its investment in local manufacturing facilities has paid off
Pharmaceuticals group Adcock Ingram’s share price rose as much as 6.3% to R69.12 on Monday morning after issuing a statement saying how much of the government’s antiretroviral medicine contract it had won. Adcock Ingram said it will supply 12% of the antiretroviral drugs state hospitals will purchase over the next three years, equating to R1.8bn excluding VAT.
“Our investment into the oral solid dosage facility situated in Wadeville has increased our ability to manufacture and supply antiretroviral medicines to the public sector through the tender system, and also meet the needs of the private healthcare market,” Adcock Ingram prescription division MD Ashley Pearce said in a media release. The local medicine manufacturer said it submitted bids for two triple combination products — Tenofovir, Emtricitabine, Efavirenz (TEE), and Dolutegravir, Lamivudine, Tenofovir (DLT) — as well as a number of the dual- and monotherapy molecules. Its share of the antiretroviral tender award ove...