Hikma takes full control of Algerian JV

12th Apr 2010 09:24

Hikma Pharmaceuticals is to take full ownership of the Algerian company Al Dar Al Arabia Pharmaceutical Manufacturing.Jordan-based pharmaceutical company Hikma is paying $18.5m for Dar Al Dawa's 50% stake in the joint venture.Al Dar Al Arabia owns a recently built 6,000 square metre manufacturing facility and around 21,000 square metres of land in an industrial zone in Algiers. The Al Dar Al Arabia plant will double Hikma's manufacturing capacity in Algeria when it is operational and offers scope for further expansion."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 company said.