Hikma expands its manufacturing capabilities in Algeria taking full control of JV; signs biosimilars deal with CellTrion

Jordanian-owned Hikma Pharmaceuticals says that its wholly-owned subsidiary, Arab Pharmaceutical Manufacturing Company (APM), has signed an agreement to acquire the 50% stake that it did not previously own in the Algerian company Al Dar Al Arabia Pharmaceutical Manufacturing Company from the Jordanian pharmaceutical company, Dar Al Dawa, for a consideration of $18.5 million.

Al Dar Al Arabia was established in 2005 as a joint venture between APM and Dar Al Dawa. The company owns a 6,000 square-metre manufacturing facility that has recently been constructed to the highest international standards and approximately 21,000 square metres of land in an industrial zone in Algiers. Once operational, the Al Dar Al Arabia plant will double Hikma's manufacturing capacity in Algeria and will provide significant scope for further expansion, the company claims.

Algeria is the second largest pharmaceutical market in the MENA region. Following recent changes to regulations that encourage local production, it has become increasingly important for Hikma to expand its manufacturing capabilities in this country. The acquisition will facilitate the expansion of Hikma in Algeria and will help to meet the rapidly growing demand for high quality drugs in the MENA region.