CITY PRESS BUSINESS 04 Jun 2006 Page 1

Batswadi a new player in pharmaceutical sector


NEWLY formed black economic empowerment (BEE) outfit, Batswadi, will tomorrow release details of a deal entered into with a multinational pharmaceuticals manufacturer that will announce its arrival on the scene.

The transaction with Eli Lilly and Company (better known as Lffly) wifi position the new BEE entity as a serious player in the industry.

Christopher Whitfield, an African-American and former chief executive of Lilly in South Africa, wifi lead Batswadi Pharmaceuticals.

He said when his tenure ended in South Africa, he decided to remain to support efforts to transform the countrys economy.

Other shareholders in Batswadi include Humphrey Zokufa, chief executive of the Board of Healthcare Funders, Ziana Motshabi, chairperson of the Lobedu Communications Group, employees and seven independent groups representing the disabled.

Whitfield, who has 17 years experience in the pharmaceutical industry, decided tc remain in South Africa because he felt his skills and experience would be of more use here than in the US.

I have extensive experi ence in the South African pharmaceuticals environ ment and think I can make a more telling contribution here, he said.

He said the deal was aligned to the healthcare sector broad-based black economic empowerment charter and would increase the countrys access to quality medicines at affordable prices.

We wifi bring innovative solutions to the healthcare sector.

Our services wifi extend far beyond the provision of pharmaceutical products.

We are going to partner black South African physicians interested in conducting clinical research.

This is one area that many have not had an opportunity to break into. Whitfield said his company would not be involved in the generic medicines business.

He said the company had secured a substantial facility with Standard Bank to ensure it did not experience liquidity and funding problems.

Two other venture capital investors have equity in the business.

Zokufa said he chose to invest in the business because it was an operational entity geared at servicing the people of South Africa in a meaningful way and it had a product line that would be affordable.