1ST Jordanian Pharmaceutical Merger Underway
The first merger in Jordan's pharmaceutical manufacturing sector has occurred, which is considered an important step toward joining the World Trade Organization.
Al-Quds Al-Arabi daily reports that Roujy Pharmaceuticals Company merged with Kanady Pharmaceuticals Company, which has begun to build a local insulin manufacturing plant after receiving a permit from the French ORGANON Company.
The Jordanian pharmaceutical manufacturers and specialists is urging smaller pharmaceuticals enterprises to merge in order to adequately cope with coming challenges. Meanwhile, the newspaper reports that official statistics showed the value of Jordanian pharmaceutical imports reached JD 68.5 million in the first 8 months of 1999. This figure translates into a 3 percent increase compared with the corresponding period of the previous year. The same sources also showed that the value of the Jordanian pharmaceutical exports contracted 5 percent during the same period. (JD1=$1.4).
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