Bloomberg News

Hikma Pharmaceuticals Gets $110 Million in Debt Finance From IFC

December 20, 2011

Dec. 20 (Bloomberg) -- Hikma Pharmaceuticals Plc, which sells generic and branded drugs, will receive up to $110 million in debt finanacing from the International Finance Corporation, the World Bank’s private-sector lender, to improve access to generic medicine in the Middle East and North Africa.

“This loan will support Hikma’s ongoing program of capital expenditure and expansion, improving healthcare in the region,” said the IFC today in an e-mailed statement.

The IFC, which has approved $2 billion worth of investments in the Middle East and North Africa this year, expects to invest as much as $6 billion in the region over the next three to four years, it said.

Hikma, based in London, was founded in Amman, Jordan in 1978 and relies on the Middle East and North Africa for 61 percent of revenue, the company said.

--With assistance from Nayla Razzouk in Amman. Editor: Tim Farrand

To contact the reporter on this story: Mohammad Tayseer in Amman through the Dubai newsroom at mtayseer@bloomberg.net


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