CMS Francis Lefebvre Algérie, the legal and tax advice firm, is advising Pierre Fabre on the establishment of a partnership designed to create a joint venture for producing various families of drugs in Algeria. The project, which is being carried out in accordance with the 51/49 rule governing investment in Algeria, represents an investment of around €15 million and will contribute to developing the fabric of the pharmaceutical industry in Algeria.
The purpose of the new company, called Pierre Fabre Médicament Algérie SPA, will be the production, import, distribution and medical marketing of pharmaceutical products in Algeria. Production of several pharmaceutical forms – tablets, capsules, liquids and pastes – is planned within Algeria. The company will eventually produce the majority of the products in its portfolio in Algeria.
In line with the strategy defined by the Algerian public authorities, Pierre Fabre Médicament Algérie SPA will contribute to the transfer of technologies and medical and pharmaceutical know-how from Laboratoires Pierre Fabre.
By creating this joint venture, Laboratoires Pierre Fabre, the second largest private pharmaceutical group in France, intends to confirm its long-term presence in Algeria, which it considers to be a highly strategic country for its international development.
For this project, CMS Francis Lefebvre Algérie, has assisted Pierre Fabre with its partnership, from legal and tax analysis of the project to the establishment and negotiation of contracts with selected local partners, etc.
Samir Sayah, Africa Partner, is advising Pierre Fabre in relation to this project. He is assisted by Imen Mermit and Amina Rabai, Senior Legal Associates Major Projects, as well as Nabil Abdessemed, Head of Tax Department, on tax aspects and Fatiha Aouam, Senior Legal Associate, on corporate aspects. This CMS Francis Lefebvre Algérie team will advise Pierre Fabre until finalisation of the project’s operational phase, i.e. formation of the joint venture and receipt of the various approvals.