Algeria, Germany, Turkey ink 29.9-mln-USD deal to produce hypertension, diabetes drugs

Source: Xinhua| 2019-01-15 04:26:31|Editor: yan
Video PlayerClose

ALGIERS, Jan. 14 (Xinhua) -- The Algerian-Turkish pharmaceuticals company Abdi Ibrahim Remede Pharma (AIRP) on Monday signed a 20-million-euro (29.9-million-U.S. dollar) agreement with its German opposite number Boehringer Ingelheim to produce drugs treating hypertension and diabetes.

According to the agreement, the medications (against high blood pressure) and Jardiance (against Type 2 diabetes) will be produced locally.

The two drugs will be made by AIRP production unit in the new city of Sidi Abdullah in Algiers' western district.

Bachir Batel, the director general of Boehringer Ingelheim, said the production of drugs to treat tye 2 diabetes will start in the second quarter of 2019, to be available in the second half of 2023.

He added that the production of hypertension drugs will start by April 2021 and will be available on the Algerian market in the second quarter of 2021.

For his part, Mohamed Lamine Bousteila, AIRP's representative, said investing 20 million euro in this project comprises equipment, technology transfer and training.