Health Matters

Tag: Business Rescue

  • Afrigen Business Rescue: Cape Town Biotech Firm Seeks Investors

    The Cape Town-based biotechnology firm, Afrigen Biologics, has officially entered business rescue. This move follows the financial collapse of the Avacare group, which holds a 51% majority stake in the company. The Industrial Development Corporation (IDC) holds the remaining 49% share. Afrigen gained international acclaim in 2022. It successfully developed an mRNA COVID-19 vaccine using publicly available data from Moderna.…

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  • AIDS Drug Tender Controversy Raises Serious Questions

    South Africa’s AIDS Drug Tender Controversy has escalated in Parliament, after Health Minister Dr Aaron Motsoaledi sought to distance himself from the department’s latest antiretroviral procurement saga. He told MPs that director-general Sandile Buthelezi, as the department’s accounting officer, carries full responsibility for procurement sign-off. This includes the R15.5bn AIDS drug tender announced in August. The tender covers the three-in-one…

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  • Barrs Pharmaceuticals Secures R92m Hetero Investment

    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…

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  • HIV ARV Tender Crisis Triggers Parliamentary Scrutiny

    Health Minister Aaron Motsoaledi faces urgent questions in Parliament after two companies holding major government contracts to supply HIV medicines entered business rescue. The concern is immediate and practical. Any disruption to antiretroviral (ARV) supply can lead to missed doses. That raises the risk of treatment failure and drug resistance. South Africa carries the world’s biggest HIV burden. An estimated…

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  • ARV Supply Reassurance After Business Rescue Reports

    The National Department of Health has moved to reassure stakeholders about antiretroviral (ARV) shortages after reports that two suppliers in the current ARV tender have entered business rescue. Department spokesperson Foster Mohale said the country is not facing a supply crisis and that contingency plans are already in motion. Mohale said supply disruptions linked to financially distressed suppliers are not…

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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…

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