Drugmaker GSK to invest $200 mln in African factories, R&D

Drugmaker GlaxoSmithKline plans to invest up to 130 million pounds ($216 million) in Africa over the next five years as chronic diseases become more common among the continent’s swelling urban middle classes. The decision reflects the draw for the pharmaceutical industry of the region’s rapid economic growth and rising demand for treatments for non-communicable diseases (NCDs) like heart and lung disorders, diabetes and cancer. France’s Sanofi has also highlighted Africa as a promising market. Sub-Saharan Africa currently accounts for only around 500 million pounds of GSK’s annual sales, which totalled 26.5 billion pounds in 2013, but the group sees potential for much more as African economies grow.