The platform was created by combining an Egyptian pharmaceuticals manufacturer with an Indian generic drugs company to introduce lower-cost generic drugs into Egypt and the African continent. British International Investment invested $100 million into the platform as part of an initial capital commitment used to fund the acquisition and combination of the two companies. Together with Development Partners International and the European Bank for Reconstruction and Development, the three founding investors committed an initial $250 million of capital. In 2022 BII made a further $50 million equity investment to support expansion in Africa, including the acquisition of Moroccan generics manufacturer Pharmaceutical Institute. The three founding investors committed a total of $200 million in that second round of capital raise. The investment is structured as equity, the project is active (project number D4135) and the investment domicile is the United Kingdom. An agreed ESAP for the seed assets includes development of a formal ESMS, occupational health and safety measures, waste management and a grievance mechanism.

Total raised

$50M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2022