The foundation stone will be laid in 2018 and the plant, an investment of 20 million euros, will be operational in 2021. This is a project to create a joint venture including the partnership contract was signed in Paris on December 7th between the Ipsen laboratory, a biopharmaceutical and French family health group, and the Algerian investment company Isly Holding in accordance with the 49/51 rule governing foreign investment in Algeria.
“This signature took place on the occasion of the meeting of the France-Algeria High-level Intergovernmental Committee (CIHN) in Paris, in the presence of the Algerian and French Prime Ministers. Ipsen Pharma strengthens its presence and should become a major industrial player in Algeria, contributing to the development of the pharmaceutical industry in this country, “said Adlane Soudani, CEO Ipsen Pharma Algeria, at a joint press conference hosted by two parties to the International Conference Center (CIC).
The construction of the plant is, according to the Ipsen representative, the first step of this project with the investment of 20 million euros. “An important step because it is the first plant in Africa high technology.
The drug Decapeptyl, indicated in prostate cancer and certain gynecological diseases, will now be manufactured in Algeria to meet the needs of the local market. A project that should generate significant economic benefits as Algeria seeks to diversify its production, thanks to the transfer of know-how from its foreign partners, “said Benoît Hennion, Ipsen’s Vice President Health Care, in noting that, beyond this investment, discussions are ongoing with local subcontractors, with production capacity and meeting international standards, with a view to manufacturing in the near future other products, particularly in family health .
Managing Director Isly Holding, Lyes Boudiaf, is pleased with this agreement which is, according to him, a new stage confirming the development of the activities of his group present for several years in various sectors related to the industry. “We are determined to help meet a public health need and we are committed to meeting the expectations of the Algerian authorities for the development of the local pharmaceutical industry.
After signing an agreement for the creation of a mixed Algerian-French company, on December 7, 2017 in Paris, at the meeting in Matignon of the High Algerian-French Intergovernmental Committee, and in accordance with the 49/51 rule governing investment in Algeria, the pharmaceutical company Ipsen, which already has a liaison office in Algeria, and Isly Holding, a local investment company, organized today, at the International Conference Center in Algiers, a ceremony for the official launch of the first factory in Africa for the manufacture of a drug in oncology. This plant will produce DECAPEPTYL® 3.75mg and 11.25mg for the Algerian market.
Decapeptyl® is an injectable formulation of a decapeptide used primarily for the treatment of localized high-risk, locally advanced or metastatic prostate cancer. Subsequently, additional indications included the treatment of uterine fibroids (benign tumor of muscle tissue of the uterus), endometriosis (proliferation of endometrial tissue outside the uterine cavity from stage I to stage IV), and than the treatment of central precocious puberty and female infertility. Ipsen and Isly will also produce long-acting peptide forms with specific and complex methods.
On this occasion, Mr. Adlane Soudani, CEO of Ipsen Pharma in Algeria said he was very happy “to launch this investment program in Algeria for the manufacture of complex drugs intended to treat serious pathologies responding to strong medical needs of Algerian patients. For his part, Mr. Lyes Boudiaf, founder and President of Isly Holding, said that “this partnership is a new step confirming the development of Isly Holding’s activities, in the continuity of my activities for several years in different sectors related to industry “. Mr. Boudiaf especially emphasized his determination “to help meet the expectations of the Algerian authorities regarding the development of local industry”.
As a reminder, this oncology drug factory is an investment that ranges from 20 to 25 million euros and will create 150 direct jobs. It will cover, according to its promoters, all local demand and will generate an export surplus for sub-Saharan Africa.