AstraZeneca signs onto JV to build $125m manufacturing facility in Algeria

By Zachary Brennan contact

- Last updated on GMT

Related tags: Medicine

AstraZeneca signs onto JV to build $125m manufacturing facility in Algeria
AstraZeneca has partnered with two Algerian companies, AHT Health and Hasnaoui Finance, to create a joint venture with the aim of building a new $125m manufacturing facility in Algeria.

The plan is for the new facility to formulate AstraZeneca medicines from multiple therapeutic indications, including those covering cardiovascular diseases, gastroenterology, oncology, and diabetes.

AZ will control 49% of the JV, as required by Algerian law, with the long term goal of building a facility that can produce a “significant portfolio of innovative medicines​," according to Said Habib Bennaceur, AstraZeneca North West Africa President.

AstraZeneca initially set up operations in Algeria in 2007 and now has almost 180 employees there. This latest project is expected to create about 104 direct jobs and 231 indirect jobs, according to the companies.

Other major drugmakers, such as Sanofi​, have also set up manufacturing operations in Algeria.

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