MS Pharma, the fast growing Jordanian based pharmaceutical company operating across the META region, today announces a $45 million equity investment from the International Finance Corporation (IFC).
IFC is the world’s largest multilateral investor in private healthcare, managing an active portfolio of about $1.3 billion worth of health investments. IFC investments in service providers, pharmaceuticals and medical technology are aimed at promoting greater access to affordable, high-quality healthcare.
This investment will be used to support MS Pharma’s expansion into new markets and promote access to affordable generic pharmaceuticals and healthcare products across the META region.
Mr Ghiath Sukhtian, Chairman of MS Pharma said: “We are delighted to welcome IFC as a partner in MS Pharma. We are committed to providing better healthcare solutions for people in the region and beyond, and IFC’s financing will help us grow further, develop new products and technologies, and reach more patients.”
“We believe that supporting leading companies such as MS Pharma will not only improve access to high quality affordable medicines in a region that is underserved, but will also provide much-needed skilled jobs,” added Lukas Casey, IFC’s regional manager for manufacturing and services in Europe, Middle East and North Africa.
This investment follows a recent $50 million investment by the European Bank for Reconstruction and Development (EBRD) in MS Pharma. Currently, MS Pharma exports to over 20 countries across the Middle East, Africa and Europe. The company specializes in medication for chronic diseases such as cardiovascular, central nervous system, and respiratory diseases, which are experiencing high growth rates across the region. The company has a commercial presence in 12 countries, and recently launched its operations in Turkey after acquiring a dedicated injectables facility in the country.