Alembic forms JV with Adwiya Mami to enter Algerian market

The Vadodara-based pharmaceutical company Alembic Pharmaceuticals Ltd, through its wholly-owned subsidiary Alembic Global Holding (AGH), has formed a joint venture with Algeria’s Adwiya Mami SARL to enter into the $3 billion Algerian pharmaceutical market (of which generics account for 70 per cent while the rest is innovator market).
 
As per the deal, AGH will investment to acquire 49 per cent stake in Adwiya Mami SARL. Post conclusion of deal the company will be renamed as Alembic Mami SPA.
 
Adwia Mami owns a state-of-the-art formulation plant with annual capacity of 1.2 billion oral solids. The plant has been designed and developed by a leading European pharmaceutical company in line with the cGMP requirements. The plant has enough headroom for future expansion, said Alembic in a BSE filing.
 
The investment in Adwia Mami will give AGH a quick entry to the attractive Algerian market, which is a large African market with a size of $3 billion, said the Alembic BSE filing.
 
In Algeria, there are entry barriers and the local manufacturing units get a distinct advantage in marketing the products. Imports are prohibited once there is a local manufacturing.
 
Alembic Mami SPA will be jointly run by Alembic & Mami with equal representation from both on the board. The board has appointed Tagreed Alshunar, a Jordanian national and professional with over 20 years of experience in the pharma industry, as the first CEO of the company. She will be the Alembic nominee.