Corporate Finance

Pharma Distribution M&A Opportunity

Despite of their apparent large sizes, many of the CACA countries are not very densely populated and are relatively new to market economics, which leaves them very vulnerable to ‘the giants’ lurking around- whether in the form of China & India, or Russia & Turkey, but also EU, S.Korea, Japan…

This begs the question whether they can compete in any industry, but even more so in giant-company dominated pharmaceuticals market!? Well, as it turns out some of the negative exogenous influences on the local players, turn out as advantages when thinking of foreign competition & barriers to entry:

  • existing market prices are often not attractive enough for setting up shop
  • government initiatives & regulation seem too burdensome from far
  • licensing for small volumes & targeted production is overwhelming
  • long-term state, hospital & doctor rolodexes the locals have are golden
  • reliability of the local brand & pharmacist is not substitutable
  • there is a touch of xenophobia as well, worried that ‘their’ sheer numbers will overrun the country in question
  • knowledge of the local personnel, education & training markets is an edge
  • own distribution and logistics is strengthening local producers
  • own local ‘generic-brands’ are known while a no-name imported generic is not
  • mid-segment is the key hunting ground for many a locals, by adding a little margin to the locally known product / brand

As one can imagine it is not easy finding consistent, reliable & up-to-date data on one EMMA country alone, let alone on a whole region like CACA which is not always known for its transparency. So when we found a source that collected & sorted some statistics for 11 countries we imagine the CACA region, we jumped on it regardless how old or potentially erroneous… No wonder, it was published by the International federation of pharmaceutical manufacturers & associations (IFPMA, 2017):

While the data can be informative in many ways, we wanted to rank the countries for a select representative category indicators that were reported. In terms of Life expectancy at birth (yrs), Physicians (per 1,000), Health expenditure ($ per capita) and Pharma sales ($ per capita), the ranking was as follows (from most developed to least): Georgia, Kazakhstan, Azerbaijan, Iran, Mongolia, Armenia, Uzbekistan, Kyrgyzstan, Turkmenistan, Tajikistan, Afghanistan. Note that some of the countries may be quite closed to the rest of the world & their data does not best reflect the reality, while others may have inherited better infrastructure & public health standards.

With that in mind, we present a case study for an interesting ‘consolidation cross-border play opportunity’ spanning the CACA region (or even wider)

  • A thesis that would under current market access include country pharma leaders in Kyrgyzstan & Mongolia, as well as one of top players in Uzbekistan & Armenia each

To a reader it may seem that we are mimicking Chingiz Aitmatov’s “Tales of the Mountains and Steppes” given the main choice of the countries, but it is in the middle that the democratic or market processes are relatively advanced, and where potentially best or easiest CACA pharma opportunities lie…

If you have a genuine wish to discuss potential Pharma Distribution M&A Opportunity – please do write us, and we will send you the password to the next section of the pharma theme- which introduces 4 markets & companies along with the experts involved:

Contact Us  to   Read More


Theme Related Tracker

Some monitored stuff:


Video: With funding from the European Union, the EBRD worked with ABC Pharmacia, one of the main suppliers of pharmaceuticals in Georgia … 


  • Russia – Africa Relations and the Emerging New World Order
    on March 6, 2023

    In this insightful interview conducted by Modern Diplomacy executive Kester Kenn Klomegah with Fyodor Lukyanov, Chairman of the Council on Foreign and Defense Policy, Research Director at the Valdai Discussion Club, and Editor-in-Chief of Russia in Global Affairs magazine, focused largely on […]

  • Will EU Sanctions Produce a Winner and a Loser?
    on March 3, 2023

    The feedback effects of sanctions on European economies have yet to be fully revealed. The sum of these effects, the so-called “boomerang effects”, will indeed only be known within a year. It could turn out to be far greater than the effects on Russia. In the long term, Russia may […]

  • How Russia Can Build Relations With Friendly Countries
    on February 27, 2023

    A year into the conflict between Russia and the West turning into a proxy military confrontation, the most important lesson learned in terms of the international consequences of these developments is that such a large and powerful country really cannot be isolated in terms of foreign policy. It is […]

  • The First Year of the Conflict: The Semantics of Words and Deeds
    on February 24, 2023

    February 24 marks the first anniversary of the start of the special military operation (SMO) announced by the Russian leadership. This day a year ago, without any exaggeration, was one that divided Russian history into “before” and “after”. I believe the same divide affected the […]

  • Why US Wants to Weaken Russia via Ukraine Conflict & Why China-Russia are Together
    on February 24, 2023

    In this episode of #ThePrintUninterrupted, the editor-in-chief of Russia in Global Affairs magazine Fyodor Lukyanov, who is also an authoritative foreign policy analyst with deep links to the Russian state, tells ThePrint’s Senior Consulting Editor Jyoti Malhotra that the people of Russia support […]

  • The Vision of a Multipolar World
    on February 20, 2023

    With the worldview crisis in Russia’s relations with the West entering a hot phase after the beginning of the Special military operation in February 2022, the future of the world order and principles of international relations is again among the issues making media headlines around the world and […]

  • Free Speech Advocates Question Sincerity of Promised Uzbek Reforms
    on March 23, 2023

    Washington - When Shavkat Mirziyoyev replaced longtime strongman Islam Karimov as Uzbekistan's president in 2016, he promised democratic reforms, openness and accountability. But a key element of those reforms - a proposed rewrite of the country's 31-year-old constitution ­- has democracy […]

  • 2 children killed, 5 injured from mine blast in N. Afghanistan
    on March 23, 2023

    FAIZABAD, Afghanistan, March 23 (Xinhua) -- Two children have been killed and five others injured as a mine left over from past wars went off in Afghanistan's northern Badakhshan province, head of provincial information and culture Qari Maazudin Ahmadi said Thursday. A group of children found a […]

  • UK war crimes probe issues call for evidence
    on March 23, 2023

    The investigation into extrajudicial killings by British troops in Afghanistan was announced last yearAn independent inquiry into alleged illegal killings by the British military in Afghanistan officially opened with a call for evidence on Wednesday. Investigation chairman Lord Justice Haddon-Cave […]

  • Afghans mark start of Ramadan fasting month
    on March 23, 2023

    KABUL, March 23 (Xinhua) -- Afghanistan marked the first day of the Muslim holy month of Ramadan on Thursday, the Supreme Court of the war-torn country announced. During Ramadan, the fasting observers excluding children stay away from eating, drinking, smoking and conducting sexual relations from […]

  • High time for Pakistan to rethink its Afghan policy
    on March 23, 2023

    Islamabad [Pakistan], March 23 (ANI): Recently, a high-level Pakistani delegation comprising Defence Minister, DG ISI, and Foreign Secretary visited Kabul and held discussions with the Taliban. While both sides were reticent to discuss the outcomes of the meetings, it is evident that the recent […]

  • 5.9 magnitude earthquake jolts Tajikistan's Novobod
    on March 23, 2023

    Navobod [Tajikistan], March 23 (ANI): An earthquake of magnitude 5.9 on the Richter scale struck 51 km north-north west of Novobod, Tajikistan on Thursday, the United States Geological Survey (USGS) reported. Navobod is a town in Tajikistan. The earthquake occurred at 01:37:44 (UTC05:30) and hit […]