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London, United Kingdom, 2010/02/03 - The 2009 Frost & Sullivan Ghanaian Pharmaceutical Industry Innovation & Advancement Award is presented to LaGray Chemical Company, the first local Ghanaian company to manufacture Active Pharmaceutical Ingredients (APIs).
Adhering to Good Manufacturing Practices, LaGray Chemical Company’s manufacturing capacity includes 10 metric tonnes of API, 8 million laminated aluminum tubes of dermatological products, 300 million oral capsules and 150 million tablets per annum.
LaGray Chemical Company was established in 2000 and commercial production commenced in 2007 with a strong focus on pharmaceuticals for the treatment of endemic diseases. The company’s vertical strategy to fulfill the complete value chain of pharmaceutical production (manufacturing APIs for the production of the complete products) has proven its innovativeness to grow in the Ghanaian pharmaceutical industry and to successfully expand in the remaining parts of West Africa.
"With a few Ghanaian pharmaceutical manufacturers struggling to retool in order to achieve the World Health Organization (WHO) pre-qualification, LaGray Chemical Company’s position is advancing above its competitors because its facilities and systems have been designed toward that objective, right from inception," states Frost & Sullivan Research Analyst Lizelle Wentzel. "The company’s current products are filed in 15 sub-Saharan African countries."
The current product portfolio includes Azithromycin (production commenced in August 2008) dermatologicals and anti-infectives. Furthermore, the company has anti-retrovirals, anti-malarials and antihypertensives in the pipeline for 2010.
"LaGray Chemical Company strives to become an affordable pharmaceutical manufacturer that would not only supply drugs but also diagnostics and vaccines in future," remarks Wentzell. "It strengthened its position strategically by entering a technology transfer agreement with an Indian company in 2007; this agreement allowed the company to access synthetic intermediates used during the production of APIs."
Apart from the key disease burdens in Ghana and the remaining countries of the sub-region, West Africa has various priority endemic diseases (PED) that are currently not optimally addressed due to the lack of treatment products in most instances. With the PEDs a focus for the Ghanaian government, LaGray Chemical Company is using this demand as a key opportunity for growth and expansion.
"LaGray Chemical Company is still in its early growth phase but is considered to be the most innovative local manufacturing company participating in Ghana’s pharmaceutical industry," concludes Wentzell. "With the company only starting its endeavour, it is expected that it will continue to increase its market presence through the continuous production of quality pharmaceutical products that effectively address the needs of the market. "
The Frost & Sullivan Award for Industry Innovation & Advancement is bestowed upon the company that has proven to be a leader in the industry and that, through its pioneering technology, sound business strategy, and research efforts, has been successful in moving the state of the industry forward. Its excellence in the field has extended beyond its technical advancements and encompasses a comprehensive view of market participants, resulting in an ongoing improvement in the industry over time. This Award recognizes the company for its broader, more comprehensive participation in the industry and for its contributions to the advancement of the market.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research in order to identify best practices in the industry.
About La Gray Chemical Company
LaGray Chemical Company (www.lagraychem.com) is the first vertically integrated pharmaceutical manufacturing company in West Africa. From concept to implementation, the company was built to be compliant with international standards of Good Manufacturing Practices for pharmaceuticals. The company produces medicines to treat serious endemic diseases and for improving the quality of life in West Africa. The founders of the company have years of experience working for major multinational companies and have brought their experience back to the region.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 35 offices on six continents.