Sandoz AG (SDZNY) announced on Wednesday, that it has signed a direct manufacturing and supply agreement with the Rwanda government to ensure a stable supply of essential medicines, with plans to extend distribution to selected African countries.
The agreement is set to cover about 60 products and is focused on creating a sustainable way to procure affordable, high-quality treatments in the region.
This partnership comes in the wake of the Alpbach Communiqué, an international effort aimed at strengthening antibiotic supply chains. It also ties into larger initiatives to boost healthcare access throughout the continent.
According to Rwanda's health ministry, this collaboration will improve the availability of cancer treatments and antibiotics both in Rwanda and across the African Union.
Sandoz added that the agreement will benefit its European manufacturing network, especially its antibiotic production facility in Austria, ensuring a steady supply in the long run.
SDZNY is currently trading at $86.78, up $0.46 or 0.53 percent on the OTC Markets.
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