CMS Bureau Francis Lefebvre, via its office in Algiers, is advising IPSEN on the establishment of a partnership designed to create a joint-venture for producing pharmaceutical products in Algeria.
By virtue of an agreement signed on 16 October 2017 with ISLY Holding, an Algerian financial investor, IPSEN is reinforcing its presence in the country, via the local production of some of its speciality products.
The project involves the construction of a production plant in oncology, representing an investment currently valued at between €20 million and €25 million.
This investment will allow the creation of 150 direct jobs as well as indirect jobs and will contribute to significantly reducing the import bill. IPSEN is also studying the possibility of exporting products manufactured in Algeria to sub-Saharan Africa.
These strategic choices are in line with the policy and recommendations of the Algerian authorities and contribute to the development of the pharmaceutical industry in Algeria.
This plant will be the first to produce peptide retard forms in oncology, a therapeutic field corresponding to a public health need identified as a priority by the Algerian government.
For this project, CMS Bureau Francis Lefebvre assisted IPSEN in all aspects linked to the finalisation of its partnership, including screening of potential partners and negotiation of contractual agreements with the local partner selected, among other aspects.
Samir Sayah, Africa Partner, is advising IPSEN in relation to this transaction. He is assisted by Amina Rabai and Imen Mermit, Senior Legal Associates Major Projects, Nabil Abdessemed, Head of Tax Department, and Fatiha Aouam, Senior Associate, for corporate aspects. This CMS Bureau Francis Lefebvre Algeria team will advise IPSEN until finalisation of the project’s operational phase formation of the joint-venture and receipt of the various government approvals and agreements.