Jordan’s Hikma Sails On Strong Winds From Injectables, But Generics Lag
This article was originally published in PharmAsia News
A slower than expected remediation process with U.S. FDA for its Eatontown, New Jersey, plant has cast a shadow on Hikma’s generics business and may lead to a restructuring or even sale of the unit.
You may also be interested in...
Jordanian drug maker Hikma Pharmaceuticals PLC acquired 63.9% of Moroccan branded generics firm Promopharm SA Oct. 3 in a cash deal worth $111.2 million. The acquisition gives Hikma access to the fourth largest pharmaceutical market in the Middle East and North Africa, additional manufacturing capacity and capability, and a perhaps stronger claim to its goal of being a partner of choice for multinationals across the MENA region
Growth prospects for Turkey’s medical technology market are significant, but local companies have complained about public policies that are harmful to business and about the ongoing crisis in the hospital system. Now, international medtechs are starting to react, with some downscaling local operations and portfolios. Association of Research Based Medical Technologies Manufacturers president Umut Gokalp laid out the problems being faced by industry, and what action he thinks the government should take.
The Turkish government’s drive to establish domestic manufacturing for vaccines is showing tentative signs of getting off the ground. New partnerships are forming between Turkish and international partners. However, lack of local know-how is hampering progress.