Japan’s Marubeni Corporation is acquiring a minority interest in Phillips Healthcare, a Mauritius-based pharmaceutical firm with extensive operations in Kenya, Uganda, Ethiopia, and Egypt.
- •The deal which is currently under review by the COMESA Competition Commission, signals Marubeni’s growing ambitions to bridge Japan’s pharmaceutical supply with Africa’s rising demand for medical infrastructure, drugs, and devices.
- •Phillips Healthcare, which operates distribution channels for major international pharmaceutical brands, has long maintained a strong presence in Kenya through subsidiaries such as Phillips Therapeutics and Pharma Specialties Limited.
- •The restructuring accompanying this acquisition will consolidate these entities under a newly formed Phillips Wellness Corporation, giving Marubeni indirect control.
“The Commission will, in accordance with the provisions of the Regulations, determine, among other things, whether the proposed transaction is likely to substantially prevent or lessen competition and or would be contrary to the public interest in the Common Market,” the COMESA competition watchdog stated.
Although the financial details have not been disclosed, the transaction is expected to reshape healthcare delivery logistics in the region. The COMESA Competition Commission has invited public comment on the transaction until April 24, 2025.
The African pharmaceutical market was valued at US$25 billion in 2022 and is projected to reach US$34 billion by 2027.
Although per capita pharmaceutical spending in Africa remains lower than in other continents, innovative treatments are popping up. Marubeni has predicted opportunities in this space and has therefore invested in a venture capital firm—AAIC Investment’s Africa Innovation & Healthcare Fund—which backs digital healthcare startups involved in areas ranging from telemedicine to artificial intelligence for medical diagnosis.
