HIKMA WILL BUILD A PHARMACEUTICALS PRODUCTION PLANT

HIKMA WILL BUILD A PHARMACEUTICALS PRODUCTION PLANT

In Astana, a priority investment contract was signed between the Investments Committee of the Ministry for Investment and Development of the Republic of Kazakhstan and Hikma CIS JSC - the Kazakhstan project of the Jordanian transnational company Hikma Pharmaceuticals PLC (LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY).

Hikma Pharmaceuticals - a multinational pharmaceutical company based in London that develops and produces original medicines and generics. The company was founded in 1978 in Amman, Jordan, and it is one of the largest pharmaceutical companies on the London Stock Exchange today. Hikma has 7 research centers and 29 plants in 11 countries, including the USA, Europe, Middle East and North Africa. The pharmaceutical products of the company meet the GMP standards and the product portfolio includes about 700 medicines.

In 2015, the company began work on the investment project "Construction of a Pharmaceuticals Production Plant in Alatau (Almaty) IA". The company will produce high-quality pharmaceutical products to meet the needs of all population groups of the republic in medicines at affordable prices and reduce the dependence of Kazakhstan on the import of medical products. The assortment of pharmaceuticals will include cardiovascular drugs, general-purpose antibiotics, drugs for the central nervous system, oncology treatment and others.

The company has already received a land plot in the Alatau Industrial Area in Almaty and signed a contract with SK-Pharmacy LLP for the production and supply of medicines on an exclusive basis for 10 years. Currently, the issues of land works and production adjustment are being studied. The project will be fully funded by a foreign investor.

"This project is under our special control, as it is implemented within the "Nation Plan" announced by the Head of State on attracting transnational companies and creating export products in Kazakhstan," said Nursultan Dzhienbaev, the Deputy Chairman of the Board of KAZAKH INVEST NC JSC.