Algerian pharmaceuticals group to open capital for private investors
Between 15 and 30 percent of the capital of Saidal pharmaceutical production group will be opened by the end of this year, Saidal Chief Executive Officer (CEO), Ali Aoun disclosed. In an interview to the El Fadjr daily, Aoun conveyed "Saidal controls 40 to 45 percent of the local medications market, i.e. between 130 and 140 million units per year of a total of 300 and 400 million units per year, according to statistics released by the Health Ministry."
Aoun recalled Saidal will produce insulin in partnership with "Aventis" French group at Oued Aissa factory (Constantine), as the progress rates of this project are estimated at 80 percent.
Insulin import per year costs $10 million dollars for some 800,000 or 900,000 diabetic persons. An amount of AD1.2 billion of investments was directed to the implementation of this factory which its production capacity is estimated at 2 millions insulin units, Aoun conveyed. (menareport.com)
© 2004 Mena Report (www.menareport.com)