Akums Drugs and Pharmaceuticals to Establish Local Manufacturing Facility in Zambia with $50M Deal

Akums Drugs and Pharmaceuticals Ltd. has executed a Framework Agreement with the Government of the Republic of Zambia (GRZ) to establish a local manufacturing facility in Zambia. The project, expected to commence manufacturing in 2028, will support GRZ national health programs and enhance local production capabilities. Akums will hold 51% stake in the joint venture company, with the GRZ owning the remaining 49%. The GRZ has committed to purchasing medicines worth $50M over two years from the joint venture company, which will be manufactured and supplied from Akums and/or its subsidiaries’ facilities in India. The joint venture is expected to be established before the end of 2025.