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Novartis will invest $ 35 million in Algeria
Novartis will invest $ 35 million in Algeria

Swiss pharmaceutical group Novartis will invest $ 35 million in Algeria under a development plan which runs until 2017, according to EcoNews citing executive from Novartis Algeria, Mr. Karim Harchaoui.

"We decided to invest during the next two years, $ 35 million in our Sandoz factory in Oued Smar, not only to better meet local demand drugs, but also to engage in export production surpluses, "Mr. Harchaoui said.

This investment, he said, will strengthen the group's competitive position on the market and increase its position among the largest investors in the pharmaceutical sector in Algeria. "Novartis is among the first three laboratories in the world . In Algeria, we occupy the seventh rank. Our goal for the coming years is to rank among the top 3 laboratories ", said Mr. Harchaoui.

The same official said that new products are awaiting registration and accreditation at the Ministry of Health. These include drugs for cardiovascular and respiratory diseases, among others, says our interlocutor, who wished to recall that Novartis does not produce generic.

Mr. Harchaoui acknowledged, moreover, that 2015 is a very special year marked by the decline in oil revenues, which has affected imports of medicines. "The laboratories installed in Algeria, including those who have invested in production, defend themselves better before the current crisis," he said. "To deal with this crisis, we must invest locally," he added.

Tag(s) : #Economy

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