January 4, 2008

Praxis Med has been given the distinction of being selected to participate in the U.S. Department of Commerce’s Trade Mission to Sub-Saharan Africa.  The purpose of the Trade Mission is to acquaint U.S. businesses with African businesses and government organizations.  The ultimate goal is to increase the exchange/trade of goods and services between the two markets.  Participants represent a variety of industries and selection for participation is a high honor. 

 

Praxis will be focused on identifying trading partners who can benefit from our pricing and product selection.  Praxis has a product offering that is well suited to basic care in these markets and is priced to improve access to that care.  Product integrity is a key concern in these markets and we believe our presentation of US FDA approved generic medications will satisfy this concern while still achieving very low costs.  In addition, Praxis will be presenting a vitamin line and some other disposable medical devices. 

 

We will also focus on working within government systems to overcome barriers to trade that are keeping low cost high quality medications from being available in these countries.  This would include working to register manufacturers and products not yet authorized by these governments.  There are many U.S. firms who have excellent pricing on great products that would not look to register them in Africa due to lack of familiarity with the market and inability to navigate it.  Praxis plans to bring the low costs from the highly competitive U.S. market to these nations allowing access to products unavailable today and reducing the cost of medications while improving the integrity of the medicines in the market.

 

Participation in this Trade Mission is consistent with our goal to impact global healthcare by improving access to high quality low cost medications.  We anticipate learning a great deal about the markets in these nations on this trip.  It is our belief that this exposure will provide exciting trade opportunities for Praxis and its suppliers and trading partners.  Tony Robertson will be representing Praxis Med on the Trade Mission.