Latest news with #MazenDarwazah
Zawya
3 days ago
- Business
- Zawya
Hikma, IFC sign $250mln deal for MENA medicine access
Hikma Pharmaceuticals (Hikma), a multinational pharmaceutical company, and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a $250 million six-year financing agreement focused on expanding access to medicines to support Hikma's operations across the Middle East and North Africa region (MENA), by strengthening local medicine production. This financing builds on IFC's anchor role in Hikma's $500 million, five-year bond issuance, which included a $50 million subscription from IFC. The latest investments mark another milestone in a 40-year partnership and reaffirm IFC's commitment to supporting Hikma's mission of providing high-quality, affordable medicines across key MENA markets. 'Our longstanding partnership with IFC has supported our expansion into new markets over the past four decades, most recently through the strategic $250 million loan and contribution to our $500 million bond issuance. This has allowed us to respond effectively to critical healthcare needs in the regional markets we serve.' said Mazen Darwazah, Hikma's Executive Vice Chairman and President of MENA. 'Our partnership transcends monetary transactions and reflects our long-term alignment and shared values on corporate governance and sustainability. Together, we have grown strategically while staying focused on what matters most; supporting our patients by addressing high unmet healthcare needs across the region.' Khawaja Aftab Ahmed, IFC's Regional Director for the Middle East, Pakistan, and Afghanistan, added: 'IFC's 40-year partnership with Hikma continues to demonstrate what's possible when global development institutions and private sector leaders collaborate. Together, we've expanded access to high-quality medicines across emerging markets, enabling the company to grow into new territories and deliver critical medicine when it was needed most, including during the Covid-19 pandemic. Our recent engagements build on that strong foundation and open the door for even greater impact by supporting local medicine production and continued regional growth, despite ongoing conflict and uncertainty.' -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Web Release
4 days ago
- Business
- Web Release
Hikma, IFC sign $250mn deal, marking a 40-year partnership driving access to quality medicines in the MENA region
Hikma Pharmaceuticals PLC (Hikma), a multinational pharmaceutical company, and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a $250 million six-year financing agreement focused on expanding access to medicines to support Hikma's operations across the Middle East and North Africa region (MENA), by strengthening local medicine production. This financing builds on IFC's anchor role in Hikma's $500 million, five-year bond issuance, which included a $50 million subscription from IFC. The latest investments mark another milestone in a 40-year partnership and reaffirm IFC's commitment to supporting Hikma's mission of providing high-quality, affordable medicines across key MENA markets. Over four decades, IFC has offered Hikma financing and advisory tailored to the company's growth trajectory and helping reinforce its operational resilience. In 2017, IFC extended a loan to facilitate Hikma's regional expansion and later, in 2020, provided a financing package that enabled the uninterrupted distribution of medicines across the MENA region during the COVID-19 pandemic. 'Our longstanding partnership with IFC has supported our expansion into new markets over the past four decades, most recently through the strategic $250 million loan and contribution to our $500 million bond issuance. This has allowed us to respond effectively to critical healthcare needs in the regional markets we serve.' said Mazen Darwazah, Hikma's Executive Vice Chairman and President of MENA. 'Our partnership transcends monetary transactions and reflects our long-term alignment and shared values on corporate governance and sustainability. Together, we have grown strategically while staying focused on what matters most; supporting our patients by addressing high unmet healthcare needs across the region.' Hikma operates in over 50 countries across MENA, North America, and Europe, reporting revenues of over $3 billion in 2024. The company's growth has been driven by investments in local manufacturing and a series of strategic acquisitions and partnerships with multinational companies aimed at expanding access to high-quality medicines. Hikma has been listed on the London Stock Exchange since 2005 and was recognised in the FTSE4Good Index for ten consecutive years for its sustainability performance. In 2012, IFC honoured Hikma with its Client Leadership Award in recognition of its achievements in sustainability and corporate governance. Khawaja Aftab Ahmed, IFC's Regional Director for the Middle East, Pakistan, and Afghanistan, added: 'IFC's 40-year partnership with Hikma continues to demonstrate what's possible when global development institutions and private sector leaders collaborate. Together, we've expanded access to high-quality medicines across emerging markets, enabling the company to grow into new territories and deliver critical medicine when it was needed most, including during the COVID-19 pandemic. Our recent engagements build on that strong foundation and open the door for even greater impact by supporting local medicine production and continued regional growth, despite ongoing conflict and uncertainty.' The 40-year anniversary of our partnership was celebrated at Hikma's Amman headquarters on 14 July, with senior leaders and partners in attendance to honour their shared commitment to building stronger, more resilient health systems across the MENA region and beyond.
Zawya
5 days ago
- Business
- Zawya
Hikma, IFC sign $250mln deal, marking a 40-year partnership driving access to quality medicines in the MENA region
Amman, Jordan - Hikma Pharmaceuticals PLC (Hikma), a multinational pharmaceutical company, and the International Finance Corporation (IFC), a member of the World Bank Group, have signed a $250 million six-year financing agreement focused on expanding access to medicines to support Hikma's operations across the Middle East and North Africa region (MENA), by strengthening local medicine production. This financing builds on IFC's anchor role in Hikma's $500 million, five-year bond issuance, which included a $50 million subscription from IFC. The latest investments mark another milestone in a 40-year partnership and reaffirm IFC's commitment to supporting Hikma's mission of providing high-quality, affordable medicines across key MENA markets. Over four decades, IFC has offered Hikma financing and advisory tailored to the company's growth trajectory and helping reinforce its operational resilience. In 2017, IFC extended a loan to facilitate Hikma's regional expansion and later, in 2020, provided a financing package that enabled the uninterrupted distribution of medicines across the MENA region during the COVID-19 pandemic. 'Our longstanding partnership with IFC has supported our expansion into new markets over the past four decades, most recently through the strategic $250 million loan and contribution to our $500 million bond issuance. This has allowed us to respond effectively to critical healthcare needs in the regional markets we serve.' said Mazen Darwazah, Hikma's Executive Vice Chairman and President of MENA. 'Our partnership transcends monetary transactions and reflects our long-term alignment and shared values on corporate governance and sustainability. Together, we have grown strategically while staying focused on what matters most; supporting our patients by addressing high unmet healthcare needs across the region.' Hikma operates in over 50 countries across MENA, North America, and Europe, reporting revenues of over $3 billion in 2024. The company's growth has been driven by investments in local manufacturing and a series of strategic acquisitions and partnerships with multinational companies aimed at expanding access to high-quality medicines. Hikma has been listed on the London Stock Exchange since 2005 and was recognised in the FTSE4Good Index for ten consecutive years for its sustainability performance. In 2012, IFC honoured Hikma with its Client Leadership Award in recognition of its achievements in sustainability and corporate governance. Khawaja Aftab Ahmed, IFC's Regional Director for the Middle East, Pakistan, and Afghanistan, added: 'IFC's 40-year partnership with Hikma continues to demonstrate what's possible when global development institutions and private sector leaders collaborate. Together, we've expanded access to high-quality medicines across emerging markets, enabling the company to grow into new territories and deliver critical medicine when it was needed most, including during the COVID-19 pandemic. Our recent engagements build on that strong foundation and open the door for even greater impact by supporting local medicine production and continued regional growth, despite ongoing conflict and uncertainty.' The 40-year anniversary of our partnership was celebrated at Hikma's Amman headquarters on 14 July, with senior leaders and partners in attendance to honour their shared commitment to building stronger, more resilient health systems across the MENA region and beyond. About Hikma Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (LEI:549300BNS685UXH4JI75) (rated BBB/stable S&P and BBB/stable Fitch) Hikma helps put better health within reach every day for millions of people around the world. For more than 45 years, we've been creating high-quality medicines and making them accessible to the people who need them. Headquartered in the UK, we are a global company with a local presence across North America, the Middle East and North Africa (MENA) and Europe, and we use our unique insight and expertise to transform cutting-edge science into innovative solutions that transform people's lives. We're committed to our customers, and the people they care for, and by thinking creatively and acting practically, we provide them with a broad range of branded and non-branded generic medicines. Together, our 9,500 colleagues are helping to shape a healthier world that enriches all our communities. We are a leading licensing partner, and through our venture capital arm, are helping bring innovative health technologies to people around the world. About IFC IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2024, IFC committed a record $56 billion to private companies and financial institutions in developing countries, leveraging private sector solutions and mobilizing private capital to create a world free of poverty on a livable planet.
Web Release
10-04-2025
- Business
- Web Release
Hikma signs exclusive licensing agreement with pharma& to bring innovative oncology treatment to MENA
By Editor_wr On Apr 10, 2025 Hikma Pharmaceuticals PLC (Hikma), the multinational pharmaceutical company, has announced an exclusive licensing agreement with pharmaand GmbH (pharma&), a global pharmaceutical company based in Vienna, Austria. This agreement grants Hikma exclusive rights to commercialise rucaparib across the Middle East and North Africa (MENA) region. Rucaparib, marketed as Rubraca®, is an innovative small-molecule oral therapy designed to inhibit poly (ADP-ribose) polymerases (PARPs), a family of proteins critical to DNA repair in cancer cells. This mechanism makes rucaparib an important treatment option for patients battling ovarian cancer, the 8th most common cancer in women globally[1], and prostate cancer, the 4th most common cancer worldwide and the second most common cancer in men[2]. Rucaparib has received regulatory approval from both the European Medicines Agency (EMA) and the United States Food and Drug Administration (U.S. FDA). Mazen Darwazah, Hikma's Executive Vice Chairman and President of MENA, said: 'We are pleased to add rucaparib, an innovative oncology treatment, to our growing oncology portfolio in MENA. This agreement is a major step to further enhance patients' access to life-changing treatments and address critical medical needs across the region. By strengthening our oncology portfolio, we reaffirm our commitment to providing advanced cancer treatments and supporting our purpose of putting better health within reach, every day.' As the company's first innovative small-molecule oral therapy in oncology approved by both the U.S. FDA and EMA, this partnership strengthens Hikma's promise of providing better access to life saving treatment options and its commitment to improving patient outcomes. [1] Ovarian cancer statistics | World Cancer Research Fund [2] Prostate cancer statistics | World Cancer Research Fund Comments are closed.
Zawya
10-04-2025
- Business
- Zawya
Jordan: Hikma signs licensing agreement to bring innovative oncology treatment to MENA
AMMAN — Hikma Pharmaceuticals PLC (Hikma) on Wednesday announced an exclusive licensing agreement with pharmaand GmbH (pharma&), a global pharmaceutical company based in Vienna, Austria. The agreement grants Hikma exclusive rights to commercialise rucaparib across the Middle East and North Africa (MENA) region, the Jordan New Agency, Petra, reported. Rucaparib, marketed as Rubraca, is an innovative small-molecule oral therapy designed to inhibit poly (ADP-ribose) polymerases (PARPs), a family of proteins critical to DNA repair in cancer cells. This mechanism makes rucaparib an 'important' treatment option for patients battling ovarian cancer, the eighth most common cancer in women globally, and prostate cancer, the fourth most common cancer worldwide and the second most common cancer in men. Rucaparib has received regulatory approval from the European Medicines Agency (EMA) and the United States Food and Drug Administration (USFDA). Hikma Executive Vice Chairperson and President of MENA Mazen Darwazah said: "We are pleased to add rucaparib, an innovative oncology treatment, to our growing oncology portfolio in MENA.' 'This agreement is a major step to further enhance patients' access to life-changing treatments and address critical medical needs across the region. By strengthening our oncology portfolio, we reaffirm our commitment to providing advanced cancer treatments and supporting our purpose of putting better health within reach, every day,' Darwazah added. As the company's first innovative small-molecule oral therapy in oncology approved by the USFDA and EMA, this partnership boosts Hikma's promise of providing better access to life saving treatment options and its commitment to improving patient outcomes, he noted. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
