Key drivers of investment initiatives in Uganda's pharmaceutical industry

Abstract

This study examines the key drivers of investment initiatives in Uganda's pharmaceutical industry. We adopted a qualitative research design using an in-depth interview guide to collect data from 12 board chairpersons/assistants at the selected manufacturing, marketing and sales pharmaceutical firms. The theory of Investment Behavior (Jorgenson, 1967) was used to underpin the actors' investment objectives beyond profit maximization locus subject to utility maximization. The results indicate two complementary investment drivers in pharmaceuticals: an investment gap and government policy initiatives. We recommend that the government should formulate an integrated human resource planning policy and further establish a one-in-all-stop hub to support pharmaceutical investments in the country. Besides, the hub should take charge of the operationalization of government policy initiatives intended to close the investment gap in the pharmaceutical industry.