mPharma, a health tech startup based in Ghana that manages prescription drug inventory for pharmacies and their suppliers, has signed a franchise agreement with Belayab Pharmaceuticals PLC to increase patient access to affordable and quality medications in Ethiopia, through its subsidiary, Haltons Limited.
Through this agreement, mPharma will leverage its technology platforms, insights, and extensive experience working with hospitals and retail pharmacies across Africa to help Ethiopia achieve universal medical coverage to all its patients. Through the franchise, mPharma and Belayab Pharmaceuticals aim to open two operational pharmacies in Addis Abeba this year.
Headquartered in Ghana, mPharma, a technology-driven healthcare company acquired Kenya’s second-largest pharmacy chain, Haltons, in 2019, taking control of 27 stores across Kenya. Currently operational in Ghana, Nigeria, Zambia, Rwanda, and Kenya, mPharma serves about a million patients every year through over 300 partner pharmacies and provides patients with affordable and high-quality medicines in its quest to build an Africa that is in good health.
In Africa, the pharmaceutical market faces challenges such as sprawling supply chains, low order volumes, and exorbitant prices. Millions of Africans continue to die from diseases such as malaria, tuberculosis, and Hepatitis B; these diseases can be prevented or treated with timely access to appropriate and affordable medicines and other health services.
With less than 2% of drugs consumed in Africa being produced on the continent, many sick patients cannot afford to buy the medications they need for treatment. mPharma has been working with drug manufacturers and suppliers to make medicine supply chains more efficient, thereby reducing the financial burden to patients.
Under this partnership, each pharmacy launched will offer Mutti – mPharma’s health membership program – to patients in Ethiopia. Patients will benefit from discounts on their drugs and financing options that can help alleviate the costs of healthcare. Mutti will particularly benefit uninsured patients in Ethiopia who pay out-of-pocket for their medication and therefore bear the brunt of high drug prices.