US Pharmaceutical Companies to Develop Biotechnology and Medecines Production in Algeria

An agreement on the establishment of an international pole of Biotechnology and the Production of Medicines in Algeria will be signed on Thursday between the Algerian Ministries of Industry and Health, and the U.S. pharmaceutical groups, Head of the US-Algeria Business Council Mr. Ismail Chikhoune said here on Wednesday.

“Under this agreement large American companies will be committed to conduct many researches and development in the field of biotechnology and pharmaceutical industry in Algeria”, Mr. Ismail Chikhoune asserted during the first US-Algeria Forum on Health and Pharmaceutical Industry.

“Algeria must build research laboratories and production units of future medicines in partnership with these US firms”, he added.

“Algeria must also reconsider the organization of conducting investment, particularly the rule 49-51% that must be mitigated for sectors outside hydrocarbons. Heads of the US companies active in Algeria’s market of medicines and biotechnology remarked a rise in figures for public expenditure in health sector. These American pharmaceutical companies, which allocate each year over $100b for research and development, hope to make of Algeria an important region in the Middle East and North Africa”, he explained.