ALGERIAN, GERMAN FIRMS INK US$22.86M DEAL FOR LOCAL PRODUCTION OF MEDICINES

ALGIERS– Abdi Ibrahim, a Turkish-Algerian joint venture pharmaceutical company, said on Tuesday that it signed a 20-million-euro (22.86 million U.S. dollars) agreement with German pharmaceutical company Boehringer Ingelheim for local production of blood pressure and diabetes medicines.

The agreement includes manufacture of blood pressure medicine MICARDIS Plus and type 2 diabetes JARDIANCE medication.

The JARDIANCE medication will be produced from the second half of 2019, said Bachir Batel, director general of Boehringer Ingelheim.

But the manufacture of MICARDIS Plus is due in April 2021 and will be put on the Algerian market in the second half of the year, he added.

Mohamed Lamine Bousteila, representative of the Turkish-Algerian company, said the investment involves equipment and technology transfers.

Source: NAM NEWS NETWORK