NEWS UPDATES

IFC approves US$12.7 million senior loan for Avenue Hospital’s expansion drive and facility enhancement

KENYA — The International Finance Corporation (IFC) has approved a senior loan of Sh1.7 billion (US$12.7 million) to Avenue Hospital in Kenya to finance its expansion and enhance its facilities.

The funds will be used to build a new wing at Avenue's Nairobi facility, establish a radiology department at its Kisumu hospital, install operating theatre equipment at its Kisumu and Thika branches, and establish five new clinics across the country. The IFC will also provide advisory services to improve resource efficiency at Avenue's facilities.

Manufacturing

South Africa to manufacture CAB-LA, an injectable HIV-prevention drug

The investment is part of the IFC's efforts to support the healthcare sector and leverage the private sector to meet the growing demand for quality healthcare in Kenya. Avenue Group is owned by US private equity fund Evercare Health Fund, which operates medical facilities in emerging markets across South Asia and Africa. Private equity funds have been investing in Kenya's healthcare sector due to its high growth potential and increasing demand from middle-income earners.

The IFC has been actively investing in healthcare facilities in Kenya and partnering with organizations to strengthen health systems in Africa. The IFC's investments and support aim to improve access to high-quality healthcare products and services and facilitate the growth of the private healthcare sector in Africa.

SOUTH AFRICA — Cipla, a global pharmaceutical company, has announced plans to manufacture an affordable version of cabotegravir (CAB-LA), a long-acting HIV prevention drug, in South Africa.

This development has the potential to provide access to the drug for millions of people in Africa. CAB-LA has been shown to significantly reduce the risk of contracting HIV and is more effective than daily oral PrEP pills because of its easier adherence and longer-lasting effects. Cipla will produce a generic version of CAB-LA at its manufacturing facilities in Benoni near Johannesburg.

The confirmation follows the granting of licenses to three companies, including Cipla, by the developers of CAB-LA and the UN-backed Medicines Patent Pool. The branded version of CABLA is currently expensive, putting it out of reach for lower-income countries. By producing a generic version, Cipla aims to make the drug more affordable and accessible to those in need.

The production of a generic version of CAB-LA requires access to manufacturing technology, which can take several years. In South Africa, ViiV Healthcare currently holds the patent for CAB-LA until 2031. Lowering the price of the drug and increasing access to affordable versions is crucial to combating HIV/AIDS globally.

The World Health Organization (WHO) has recommended the use of long-acting injectable CAB-LA as pre-exposure prophylaxis (PrEP) for HIV. The WHO encourages countries

THE WORLD HEALTH ORGANIZATION (WHO) HAS RECOMMENDED THE USE OF LONGACTING INJECTABLE CAB-LA AS PRE-

Hiv

to consider this safe and effective prevention option for individuals at high risk of HIV infection. To achieve global progress in combating HIV, addressing research gaps related to CAB-LA, such as drug resistance, testing, service delivery, and safety during pregnancy and breastfeeding, is essential.

Sanofi invests US$150M to acquire oral Pompe disease drug candidate from Maze Therapeutics

million, including upfront cash and a future equity investment in Maze. Milestone payments of up to US$600 million could also be made based on the drug's progress under Sanofi.

levels. With the agreement, Maze can shift its focus to its next mostadvanced program for APOL1-mediated

FRANCE — Sanofi and Maze

Therapeutics have entered into an agreement for the exclusive worldwide license of Maze's glycogen synthase 1 (GYS1) program and oral substrate reduction therapy, MZE001, to treat Pompe disease.

MZE001, a small molecule formulated as a twice-daily pill, is designed to block the glycogen synthase enzyme and offers a more convenient alternative to infused enzyme replacement therapies. Sanofi will acquire the drug for US$150

Pompe disease is a genetic disorder causing muscle weakness and breathing difficulties due to mutations in the gene that codes for the acid alpha-glucosidase enzyme. Sanofi currently has two therapies for the disease, including enzyme replacement therapy (ERT) with Lumizyme (marketed as Myozyme in Europe).

However, Lumizyme has limitations, prompting the development of Nexviazyme, a second-generation ERT targeting a receptor for improved cell uptake. MZE001 offers advantages over both products as it can be taken orally, providing a more convenient treatment option.

MZE001 has shown promise in a Phase 1 trial, demonstrating good tolerability and reductions in glycogen chronic kidney disease. The company also develops antibody drugs for eye diseases through Broadwing Bio, a joint venture with Alloy Therapeutics. Maze aims to concentrate on genetically linked disorders with a potentially larger impact on patients.

Africa CDC launches 5-year Reproductive Health Strategy Priorities program

and the Continental Policy Framework on Sexual and Reproductive Health and Rights, with the goal of accelerating their implementation and monitoring in AU member states.

ETHIOPIA — The Africa CDC has launched its 5-year Reproductive Health Strategies Priorities program for 20222026, aiming to improve maternal and reproductive health across the continent.

The program, endorsed by representatives from 51 African Union member states, provides strategic priorities for member states to enhance their reproductive health systems and achieve better outcomes for mothers and newborns.

It emphasizes the importance of engaging with partners, implementing targeted interventions, and securing political support to overcome existing challenges in the field. The initiative aligns with the Maputo Plan of Action

However, Africa still faces significant challenges in reproductive health, including high maternal mortality rates and limited access to comprehensive services. The Africa CDC's Reproductive Health program is a crucial step towards addressing these gaps, with a focus on reducing maternal and newborn mortality rates. The adoption and implementation of the program mark an important milestone in improving reproductive health outcomes in Africa, and it is hoped that the comprehensive approach outlined in the strategy will bring about substantial progress in the region.

Shortage of cancer treatments causes delays and medication switches, alarming U.S. cancer centers

USA — Prominent U.S. cancer centers are grappling with a growing shortage of common cancer treatments, which has led doctors to resort to medication switches and delays in care, the Associated Press reports.

According to a survey conducted by the National Comprehensive Cancer Network, nearly all the centers surveyed in late May reported shortages of carboplatin and cisplatin, two drugs widely used in the treatment of various cancers. Some centers have been unable to administer carboplatin to patients at the prescribed dosage and schedule.

Dr. Kari Wisinski, a breast cancer specialist at the UW Health Carbone Cancer Center expressed the challenges faced by physicians when discussing the unavailability of prescribed medications with patients and their families, adding they had resorted to alternative treatments and rearranging drug combinations, hopeful that a better supply of carboplatin would be available within three months.

Mike Ganio, a researcher specializing in drug shortages at the American Society of Health-System Pharmacists, noted the rapid escalation of the problem, transitioning from a shortage to a severe shortage within a short period.

The factory in India responsible for manufacturing both carboplatin and cisplatin temporarily ceased production earlier this year following quality concerns raised during an inspection.

The shortage of prescription drugs in the United States is attributed to manufacturing issues, unexpected surges in demand, and limited supplies of ingredients. To mitigate the chemotherapy shortage, the U.S. Food and Drug Administration (FDA) has allowed the temporary importation of foreign-approved versions of cisplatin from FDA-registered factories.

Egypt’s Magdi Yacoub Heart Foundation to open a new state-of-the-art heart center in Giza

EGYPT — The Magdi Yacoub Heart Foundation (MYF) has partnered with Mercedes-Benz Egypt to establish the Magdi Yacoub Global Heart Centre in Egypt's 6th of October City.

The center, expected to be operational by early 2024, will provide free value-based care to patients with heart disease, including children. It aims to serve over 120,000 patients, conducting 12,000 surgical operations, with 60% of them focused on children.

healthcare services to thousands of Egyptians suffering from heart and cardiovascular diseases through the Aswan Heart Centre.

Mercedes-Benz Egypt's alliance with MYF supports its commitment to making a positive impact in the communities where it operates. The company will contribute to the construction progress of the heart center, leveraging its partnership to enhance patient access to essential healthcare services. During a visit to the Aswan Heart Centre, Mercedes-Benz Egypt gained insight into the center's medical research and met with Dr. Magdi Yacoub, a renowned figure in improving healthcare services in Egypt.

The collaboration between MYF and Mercedes-Benz Egypt aims to deliver innovative treatments to Egyptians, improve the healthcare system, and positively impact future generations. It highlights the significance of publicprivate partnerships in supporting charitable causes and amplifying their impact.

The facility will reduce waiting times, improve outpatient satisfaction, and offer medical training to cardiologists and surgeons. MYF, a charitable organization, already provides free

The establishment of the Magdi Yacoub Global Heart Centre aligns with MYF's mission to provide cardiovascular care to a larger number of patients and establish a medical center of excellence dedicated to cardiac surgery, treatment, and research.

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Bahrain’s Dividend Gate Capital and partners inject US$150 million in healthcare financing in Arab states

Khaled Al-Hammadi, the Founder and CEO of Dividend Gate Capital, emphasized that investing in the healthcare industry is crucial for governments to achieve exceptional healthcare standards for their populations. He highlighted the importance of enhancing accessibility and quality of services by involving the private sector in this vital sector.

BAHRAIN — Dividend Gate Capital (DGC) and its partners have invested US$150 million in the health systems of Bahrain, Saudi Arabia, and the United Arab Emirates.

This funding aims to strengthen DGC's investments in the healthcare sectors of the Arab states and expand its presence in the region. The funds will be used to identify diverse investment opportunities and achieve desired returns through a mixed portfolio of income-generating investments and growth opportunities.

DGC and its partners are focusing on promising investment opportunities in the healthcare industry within the Gulf Cooperation Council countries. They have already built a diverse investment portfolio, including healthcare facilities such as AlHokama Eye Specialist Centre, Ajman Medical Center, Gulf Oasis Rehabilitation Center, and Link International Medical Center. The plan is to further strengthen their healthcare portfolio through acquisitions and partnerships with developing healthcare institutions.

Al-Hammadi also acknowledged the investor-friendly regulations and favorable geographic location of the Gulf Cooperation Council, which provide a unique opportunity for investors to contribute to the region's healthcare transformation journey.

With this investment, Dividend Gate Capital and its partners aim to create an exciting and desirable business environment that fosters a talented team, promotes knowledge exchange, and builds a vibrant community of businesses and stakeholders.

Patient groups rank Roche, ViiV, and Horizon as the most reputable pharmaceutical companies worldwide

USA — According to the PatientView report, which assesses the reputation of pharmaceutical companies based on feedback from patient groups, Roche, ViiV Healthcare, and Horizon Therapeutics emerged as the top three most reputable pharmaceutical companies in 2022.

This ranking is divided into two sections: one based on responses from patient groups familiar with the companies but not directly involved with them, and the other based on responses from patient groups that work directly with the ranked companies. In the first section, Roche claimed the first position, followed by ViiV Healthcare and Horizon Therapeutics. In the second section, ViiV Healthcare secured the top spot, followed by Horizon Therapeutics and Roche. Notably, Pfizer, which previously held a top-ranking position, fell out of the top three.

The report also highlighted the reputation advancements of Vertex, Servier, and Merck, with these companies experiencing significant improvements in their rankings compared to the previous year. However, despite the positive recognition garnered by the pharmaceutical industry during the COVID-19 pandemic, the report suggests that the industry's reputation may be waning. Access to medicines was a concerning aspect, with only 32% of patient groups regarding pharma as "excellent" or "good" in terms of improving access, particularly in terms of affordability and distribution in underprivileged countries. More than half of the respondents rated pharma as "fair" or "poor" in this regard, with the sentiment being most prevalent in African countries.

Investments

Oman’s Ministry of Health to open 11 new hospitals countrywide

Fortis Healthcare’s diagnostics arm SRL rebrands as Agilus

INDIA —SRL Diagnostics, a subsidiary of Fortis Healthcare, has rebranded as Agilus Diagnostics, signaling a new phase of growth for the company.

The rebranding comes after the acquisition of Lifeline Laboratory and reflects Agilus' focus on becoming India's leading network of diagnostic centers. The company aims to adapt to evolving customer needs by implementing new technology and incorporating digital pathology consultations through a partnership with PathPresenter.

Agilus Diagnostics plans to expand its capabilities in genomics and nextgeneration diagnostics, enhance client

OMAN — The Ministry of Health in the Sultanate of Oman is set to establish eleven new medical centers across the country, aiming to enhance the nation's health infrastructure and improve access to healthcare services.

These healthcare facilities will be strategically located in various governorates throughout Oman.Among the upcoming projects is the Sultan Qaboos Hospital in Dhofar Governorate, scheduled to open in 2025. Additionally, construction of the 164-bed Khasab Hospital in the mountainous Musandam Governorate is well underway and expected to be fully operational by the end of 2024.

The Al Suwaiq Hospital in Al Batinah North Governorate, with a capacity of 307 beds, is also under construction and anticipated to open in 2024. Furthermore, the Ministry of Health plans to build the Mahout Hospital in Al Wusta Governorate by the end of 2025.

Efforts to enhance healthcare accessibility also include the upgrade of the Mad'ha Health Centre in Musandam Governorate to a full-fledged hospital, expected to be operational by the end of 2023. The Thamrait Health Centre, situated between Muscat and Salalah, will be refurbished into a hospital this year.

In addition to these projects, the experiences, and provide digitally enabled services. The rebranding is expected to create renewed value for stakeholders and channel partners while emphasizing Agilus' commitment to better health outcomes for patients. The company also aims to champion good health, well-being, and sustainability by reducing its carbon footprint.

Ministry of Health is in the final stages of designing and preparing three new hospitals: Al Falah Hospital in Ash Sharqiyah South Governorate, Samayil Hospital in Al Dakhiliyah Governorate, and Al Nama Hospital in Ash Sharqiyah North Governorate.

In a separate development, Dr. Sulaiman Al-Habib Medical Group (HMG) has invested over SAR 6.5 billion (US$1.73 billion) to construct six hospitals in Saudi Arabia. This initiative aligns with the group's objective of developing advanced medical facilities and providing innovative healthcare services to benefit the population.

Backed by Malaysian IHH Healthcare and private equity investors, Agilus Diagnostics is working closely with partners to complete the brand transition. The CEO of Agilus Diagnostics, Mr. Anand. K, highlighted that the new identity reflects the company's commitment to collaboration, diversity, and inclusion. With a presence in over 1,000 cities and 34 states and union territories, Agilus Diagnostics has established a strong legacy of expertise and trust in delivering highquality diagnostic care over the last two decades.