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Hikma Pharma teams up with MIDROC to enter Ethiopian market

Wed, 18th Sep 2013 06:17

LONDON, Sept 18 (Reuters) - Jordan's Hikma Pharmaceuticals said on Wednesday it was entering the Ethiopian marketthrough a joint venture with Sheikh Mohammed Hussein Al Amoudi'sMIDROC Group.

London-listed Hikma said the joint venture, named HikmaCure,would establish an Ethiopian operating company, build a localmanufacturing facility and would begin marketing anddistributing pharmaceutical products in Ethiopia.

The two groups will provide up to $22.3 million each to thejoint venture, Hikma said in a statement.

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