Rohto Mentholatum Group, a Japanese company that distributes drugs and medicines, is investing Sh100 million in the country joining foreign investors targeting the local pharmaceutical and regional industry.
The company will establish a regional office in Nairobi to provide strategic services in the healthcare and cosmetics sector in the East African Community (EAC).
The firm distributes digestive medicine, eye drops and dermal ointments.
Rohto has also developed a wide range of beauty products such as Obagi and Hada-Labo.
“We manufacture products requested by each country efficiently and at low cost at our production bases in Japan and also other countries,” the company says on its website.
Rohto has built a global network of more than 110 countries and local subsidiaries in various locations including the US, Europe and Asia.
Only recently, private equity firm LeapFrog acquired controlling stake in Goodlife Pharmacyfor Sh2.2 billion from PE firm Catalyst fund underscoring the firm’s growing interest in East Africa where it recently bought a majority stake in insurance provider Resolution Health.
The pharmacy was previously known as Mimosa before it rebranded to Goodlife and currently operates 19 stores in Kenya and Uganda.
In October, pharmacy chain Haltons received Sh300 million from the International Finance Corporation in its Sh1 billion expansion plans. Source: Business Daily Africa