MS Pharma, an Amman, Jordan-based pharmaceutical company operating across the META region, raised $45m in equity funding.
The International Finance Corporation (IFC) made the investment, which follows a recent $50m commitment made by the European Bank for Reconstruction and Development (EBRD).
The company intends to use the funds to expand into new markets and promote access to affordable generic pharmaceuticals and healthcare products across the META region.
Led by Mr Ghiath Sukhtian, Chairman, MS Pharma specializes in medication for chronic diseases such as cardiovascular, central nervous system, and respiratory diseases. The company, which has a commercial presence in 12 countries, recently launched its operations in Turkey after acquiring a dedicated injectables facility in the country. It exports to over 20 countries across the Middle East, Africa and Europe.