(Abidjan, Côte d'Ivoire and Shanghai, China, 15 October 2021) On 14 October 2021 Cote d'Ivoire local time, Tridem Pharma SAS, a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd ("Fosun Pharma"; Stock Code: 600196.SH, 02196.HK) opened a new subsidiary in Abidjan, the capital city of Côte d'Ivoire in West Africa, marking Tridem Pharma's first regional pharmaceutical distribution hub in Africa officially put into operation.
Wu Yifang, Chairman and CEO of Fosun Pharma said, "As an emerging market, Africa has always been Fosun Pharma's priority territory among all the emerging markets worldwide. Fosun Pharma started our Africa business in 2007. The company has established its own marketing team and sales network in Africa since 2009, and in 2017 Fosun Pharma acquired Tridem Pharma. We are glad to announce that, with the opening of Tridem Pharma Cote d'Ivoire, the company's first pharmaceutical distribution hub in francophone Africa that meets EU GDP is now officially put into operation. On behalf of Fosun Pharma, I would like to extend my sincere gratitude to the government of Côte d'Ivoire, for its support to Fosun Pharma and Tridem Pharma to the project. We commit to secure continuous accessibility of pharmaceutical and healthcare products in Africa, and hope that Tridem Pharma's prime service will help to improve the domestic supply capacity of pharmaceutical and healthcare products in Côte d'Ivoire and its neighboring countries. In addition, the distribution hub will be a good source of pharmaceutical and healthcare products quickly responding to public health crises in the region.
Established in 1986, Tridem Pharma is a major player in distribution of pharmaceutical products in Africa. Tridem Pharma joined the Fosun Pharma familiy in 2017. It presents in 35 Africa countries through 9 subsidiaries and 8 branch offices, with 900 employees in Africa, France, China and India. Tridem Pharma's business covers nearly 90% of Africa.
Over the years, pharmaceutical products from outside Africa are transited through France to reach their destinations in French-speaking Africa countries. To help the end users of pharmaceutical and healthcare products in Africa to achieve the goal of "door to door service", Tridem Pharma launched the "PROXY" project since 2019, through which the company plans to establish three regional pharmaceutical distribution hubs in Côte d'Ivoire, Senegal, and Cameroon within 3-5 years, so as to improve local supply of pharmaceutical and healthcare products in most French-speaking Africa countries.
Tridem Pharma's pharmaceutical distribution hub in Côte d'Ivoire is the first professional logistics and distribution platform for pharmaceutical and healthcare products in French-speaking Sub-Saharan Africa. Its first phase has a capacity of 3,300 pallets with a target of 12,000 pallets when completely put into operatioin 2023. By then, the Ivorian distribution hub will be able to directly supply pharmaceutical and healthcare products to all neighbouring countries encluding Ghana and Nigeria.
Tridem Pharma's pharmaceutical distribution hub in Côte d'Ivoire will be a good approach for the continuous accessibility of pharmaceutical and healthcare products in Africa. The distribution hub will help to improve the domestic supply capacity of pharmaceutical and healthcare products in Côte d'Ivoire and its neighboring countries. It will also simplify the drug delivery process and ensure the safety of the supply chain, as well as minimize the risk of medicine shortages in the local market.
In addition, the distribution hub will be a good source of pharmaceutical and healthcare products quickly responding to public health crises in the region. While promoting economic development, the project will also bring local employment opportunities and help to consolidate Côte d'Ivoire's leading role in the pharmceutical industry in West Africa.
Looking forward, Fosun Pharma practices innovation and transformation, integrated operation and steady development, as well as the concept of sustainable development. Fosun Pharma is committed to becoming the first-class enterprise in the global mainstream healthcare industry. In Africa, we will adhere to our 'Booming Africa' strategy, to further expand Tridem Pharma's business network in Africa, so as to make Tridem Pharma a leading distributor of pharmaceutical and healthcare products in Africa.