Hikma to take control of Algerian joint venture
Hikma is to take full control of its Algerian joint venture in an $18.5m (€13.6m) deal, continuing its expansion in the region.
The Algerian operation was established in 2005 as a joint venture between Arab Pharmaceutical Manufacturing (ABM), a wholly-owned subsidiary of Hikma, and Dar Al Dawa.
ABM has now agreed to buy Dar Al Dawa’s 50 per cent stake, giving it complete control of operations, including a 6,000 m² manufacturing facility. When fully operational the production site will double Hikma’s manufacturing capacity and Algeria and provide room for expansion.
The deal follows Hikma taking a larger stake in its Tunisian operations and entering into a biosimilar distribution deal for the middle ease and North Africa region (MENA).
