The Group was founded in 1978 in Amman, Jordan by Mr. Samih Darwazah, its former Chairman and Chief Executive Officer who retired in May 2014. At the time of its foundation, the Group was focussed on establishing its Branded business in the MENA region. In the early 1990s, the Group expanded outside the MENA region by establishing injectable pharmaceutical operations in Portugal and acquiring West-Ward Pharmaceuticals, a generics pharmaceutical business, in the United States. Over the following ten years, the Group significantly expanded its operations in the United States, the MENA region and Europe through organic growth and investment in greenfield projects. In 2005, the Group listed on the London Stock Exchange raising gross proceeds of US$124 million. A successful initial public offering enhanced the Group’s flexibility to grow the business both organically and through acquisitions. From 2005 onwards, the Group has expanded its presence in existing markets and entered new markets in the MENA region. It has also made significant acquisitions in Europe and the United States to strengthen its Injectables business.
The key events in the Group’s history include:
1978 Commenced manufacturing branded generic pharmaceutical products in Jordan for the Middle East market.
1980 Acquired land in Sintra, Portugal for the construction of an approved manufacturing plant for injectable pharmaceutical products.
1991 Entered the United States market through acquisition of West-Ward Pharmaceutical Corp., a 50-year-old American generic pharmaceuticals company with its headquarters, manufacturing and research facilities in Eatontown, New Jersey.
1993 Entered Tunisian market through acquisition of a minority stake in Industries Pharmaceutiques Ibn Al Baytar (IAB)
1999 Started manufacturing operations of Jazeera Pharmaceutical Industries (JPI) in Saudi Arabia and entered the Saudi market.
2001 Manufacturing facilities in Portugal approved by the US FDA. The Group started to manufacture injectable powder cephalosporins for sale in the MENA region and Portugal.
2003 The Injectables business commenced commercial scale production of liquid injectables.
2005 The Injectables business expanded into the lyophilised segment of the injectables market with the acquisition of a specialised manufacturing plant in Italy.
Listed on the London Stock Exchange, raising gross proceeds of US$124 million.
2006 JPI, the Group’s associate business in Saudi Arabia, became a wholly-owned subsidiary its manufacturing facilities in Saudi Arabia received US FDA approval
Started manufacturing operations in Trust Pharma Algeria.
2007 Expanded into the generic injectable oncology market through the acquisition of Ribosepharm GmbH and Thymoorgan in Germany.
Entered the Egyptian pharmaceutical market through the acquisition of Alkan Pharma and strengthened its market presence in Jordan through the acquisition of Arab Pharmaceutical Manufacturing Company (APM).
2008 Completed share placement raising US$160 million to repay the loans drawn to fund the acquisition of APM in 2007, strengthen the balance sheet and enhance flexibility to finance future growth.
2010 Strengthened position in the Tunisian market through increasing its stake in IAB and its100 per cent. owned subsidiary Medicef. This provided two manufacturing plants in Tunisia: one for general formulation and one for anti-infective products.
Acquired Al Dar Al Arabia in Algeria, for penicillin production.
2011 Expanded the Injectables business through the acquisition of Baxter Healthcare Corporation’s multi-source injectables business (MSI). At the time of this acquisition, MSI comprised a comprehensive and complementary portfolio of 41 products in over 150 dosage strengths and forms across a broad range of therapeutic areas. Its product portfolio also included several DEA controlled substances and a portfolio of dormant ANDAs that the Group may reactivate for future sales opportunities.
Entered the Moroccan market through the acquisition of Société de Promotion Pharmaceutique du Maghreb S.A. (SPPM), At the time of this acquisition, SPPM was the ninth largest manufacturer of pharmaceutical products in Morocco with an attractive and diversified portfolio of branded generic and in-licensed products.
Strengthened position in Sudan through acquisition of Elie Pharmaceuticals which included a manufacturing facility and a number of product registrations.
Acquired minority stake in Unimark Remedies Limited (Unimark), a leading Indian manufacturer of API and API intermediates. At the time of this acquisition, Unimark operated three API facilities, two of which are US FDA approved, and two R&D centres, in India.
Acquired minority stake in Hubei Hauson Pharmaceutical Co. Ltd (Hauson), a Chinese company developing and manufacturing complex API with a focus on oncology. Hauson’s facilities are approved by the US FDA.
2013 Acquired Egyptian Company for Pharmaceuticals and Chemical Industries (EPCI) to strengthen the Group’s position in the Egyptian market. The acquisition of EPCI added a complementary portfolio of 35 products in 46 dosage forms and strengths, including three original cephalosporin anti–infective brands for the Egyptian market and provided the Group with access to a dedicated cephalosporin facility.
Entered Ethiopian market through joint venture with MIDROC Pharmaceuticals Limited. The Group established this joint venture to build a local manufacturing facility and begin marketing and distributing pharmaceutical products in Ethiopia.
2014 Acquired the assets of Bedford Laboratories (Bedford), which is expected to significantly increase the scale and scope of the Injectables business, adding a large product portfolio, a strong R&D and business development pipeline and a number of employees across key business functions. The acquisition of Bedford was completed in July 2014.
As part of the Bedford acquisition, in July 2014, the Group agreed to acquire substantially all of the assets of the Ben Venue Laboratories, Inc. (Ben Venue), a generic injectables manufacturing facility in Bedford, Ohio, for no incremental consideration. The Ben Venue site includes four manufacturing plants and a Quality and Development Centre. The acquisition of Ben Venue was completed in September 2014.