Hikma Pharmaceuticals obtains $200 million to ensure drug delivery in the MENA zone

The pharmaceutical company Hikma wants to stay afloat for the next two years. The Jordanian-born company has made a big bet on the markets of North Africa and the Middle East, where it intends to establish its business of delivering generics and medicines.

Hikma Pharmaceuticals has secured $200 million from the International Finance Corporation (IFC) for its drug distribution business in the Middle East and North Africa (MENA) region.

The resource includes a loan of up to $150 million from the IFC's own account and a loan of $50 million from foreign investors seeking to increase their exposure to emerging markets.

The line of credit will be used to strengthen Hikma's working capital requirements and finance its expenditures over the next two years. Part of this resource will be used to finance the production and marketing of generic drugs in the MENA markets". We are delighted to continue this partnership with the IFC. Hikma is committed to providing medicines to its clients and their patients during this critical period. IFC funding will help us maintain this momentum," said Khalid Nabilsi, Hikma's Chief Financial Officer.

For IFC officials, this long-term loan is part of the $8 billion covid-19 Facility set up by the financial institution to support its clients and enable them to cope with the operational and financial impact of the covid-19 pandemic.

As a reminder, Hikma laboratory is present in Algeria since 1994 through four production sites and employs nearly 700 employees.