EBRD acquires $50 million equity investment in leading pharmaceutical company
The European Bank for Reconstruction and Development is investing up to $50 million into equity stake in MS Pharma, a fast growing pharmaceutical company based in Jordan and operating across the Middle East and North Africa.
The pharmaceutical industry is one of the largest industries in Jordan with a high level of knowledge and standards. By supporting the regional expansion of MS Pharma the EBRD is contributing to the development of Jordan as a regional pharmaceutical hub.
The equity investment will provide the company with fresh capital to invest in the development and commercialisation of new pharmaceutical products, diversify its revenue streams and reach potential new markets.
EBRD support will also allow MS Pharma to expand its operations in the region, including the purchase of a brownfield pharmaceutical plant in Turkey as well as further support its operations in Jordan.
Ghiath Sukhtian, MS Pharma Chairman, said: “We are delighted that the EBRD has invested in MS Pharma, thereby recognising our financial strength, high standards of corporate governance and growth potential. This investment will make a significant contribution to our emerging pharmaceutical platform in the region and our expanding international footprint”.
Frederic Lucenet, EBRD Director for Manufacturing and Services, added: “We are very pleased to support MS Pharma, a key player in pharmaceuticals in the Middle East and North Africa. The pharmaceutical industry has witnessed considerable growth over the last years as the population is growing and the demands for higher healthcare standards are increasing. We will fully support MS Pharma to further grow its operations on the basis of its strong potential.’’
MS Pharma is a leading pharmaceutical and healthcare solutions provider and partner of choice in the Middle East and North Africa. The company has some 2.000 employees, a presence in 12 countries and exports to over 20 countries across the Middle East, Africa and Europe. The company has the capability to manufacture branded generics in oral, liquid, semi solid and injectable form. The company is headquartered in Jordan and has manufacturing facilities in Algeria, Jordan and Turkey.
Jordan became a member of the Bank in 2012 and to date the EBRD has committed €613 million through 29 projects in various sectors of the economy including trade facilitation credit lines with local banks.
The EBRD’s strategic plan for the countries where it invests for the period 2016-18 has three priorities: strengthening economic resilience, addressing global challenges and supporting regional integration.