South African shareholder effectively became the 100% owner of Medreich SA by buying out the Japanese shareholding in Medreich SA on the following terms and conditions:
- All the IP in the company will remain in the company.
- The new shareholder can use the Medreich name until all the pharmaceutical products at the Medicines Control Council (MCC) are registered or rejected.
- The new local South African shareholder cannot commercialise any product under the Medreich name.
In order to commercialise any product therefore necessitated a company name change done in such a way as to not jeopardise the queue of the current products in the pipeline and to update any product registrations prior to commercialisation. The company’s name was changed to Oethmaan Biosims (Pty) Ltd in October 2016.