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Sanofi S.A.

GSK to Invest $200M in African Factories, R&D

Drugmaker GlaxoSmithKline plans to invest up to 130 million pounds ($216 million) in Africa over the next five years as it bets on the importance of the continent in driving long-term demand for medicine.The decision reflects the pharmaceutical industry's growing interest in Africa, given improved economic growth and rising demand for treatments against chronic diseases that are becoming more common among urban middle classes.France's Sanofi has also highlighted Africa as a promising growth market.Sub-Saharan Africa currently accounts for only around 500 million pounds of GSK's annual sales, which totaled 26.5 billion pounds in 2013, but the group sees potential for significantly greater sales in future as African economies grow.The rise of non-communicable diseases (NCDs) like heart and lung disorders, diabetes and cancer is changing the market for drugs in Africa and increasing demand for new products beyond treatments for acute infections.NCDs are expected to account for 46 percent ...

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