Barrs Pharmaceuticals has exited business rescue after agreeing to sell a controlling stake to Hetero. The deal signals a reset for a local manufacturer that has faced both operational disruption and regulatory pressure. Business rescue consultant Karl Gribnitz announced that the Indian generics group’s South African subsidiary will acquire 78% of Barrs for R92m. The group intends this investment to…
Tag: Avacare
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AIDS Drug Tender: Pressure as Suppliers Enter Business Rescue
Two pharmaceutical companies awarded a share of South Africa’s latest Aids drug tender are in business rescue and have struggled to consistently supply the state. Avacare Health subsidiaries Barrs and Innovata each won portions of the core contract to supply TLD. Most HIV patients use this three-in-one antiretroviral pill. Both entities entered business rescue in December. Therefore, this raised concerns…