Martindale Pharma expands business in Asia-Pacific
pharmafile | May 1, 2015 | News story | Manufacturing and Production, Sales and Marketing | Singapore, aft pharma, martindale
UK-based speciality firm Martindale Pharma is to expand its business in the Asia-Pacific market with the appointment of AFT Pharmaceuticals as its distribution partner.
The agreement forms part of its strategy to grow its international business towards countries it says are “committed to expanding healthcare provision and spend on medicines”.
The Buckinghamshire-based company already has a foothold in Asia-Pacific and in addition operates across New Zealand, Australia, Malaysia, Hong Kong, Singapore and Brunei.
Mike Harris who is the chief executive of Martindale Pharma, says: “The demand for critical care and hospital speciality products in these markets is growing rapidly.”
He adds that the firm’s strategy is to partner with companies that have a strong presence in key international markets. “We look forward to working with AFT Pharmaceuticals to distribute and promote world-class products to patients and hospitals in Malaysia, Singapore and Brunei.”
Under this new agreement, AFT Pharmaceuticals will be responsible for the registration, distribution, promotion and marketing of certain of Martindale Pharma’s products in Malaysia, Singapore and Brunei.
Malaysia is said to be one of the fastest growing pharma markets with a growth rate of around 11% per annum. Healthcare was identified as a national key economic area for 2020, and spending is on the up following the economic development of the country.
Singapore’s healthcare expenditure is over $12 billion representing 6% of its GDP and has a pharmaceutical market size of $1 billion and a growth rate of 1.3% Martindale notes. The healthcare system was ranked sixth worldwide by the World Health Organization (WHO).
Hartley Atkinson, the managing director of AFT Pharmaceuticals, adds: “We are pleased to have partnered with Martindale Pharma and look forward to providing our expertise in delivering high quality products to hospitals, and patients across different countries in Asia-Pacific.”
Brett Wells
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