PROJECT

Projects

Environmental Review Summary

Project Number

20216

Company Name

HIKMA PHARMACEUTICALS LLC

Date ERS Disclosed

May 13, 2003

Country

Jordan

Region

Middle East

Environmental Category

B - Limited

Status

Completed

Previous Events

Approved : Jun 19, 2003
Signed : Jun 27, 2003
Invested : Jul 18, 2003

Sector

Pharmaceuticals and Medicine

Industry

other

Department

Gbl Ind, Manufact, Agribus & Services

Project Description

Hikma Investment (the company, or Hikma) is a privately held multinational generic pharmaceuticals holding company, headquartered in Amman, Jordan. Hikma’s manufacturing operations started in Jordan in 1978. The Company was established in 1991 to consolidate ownership of Hikma’s manufacturing subsidiaries in the Middle East, United States, Europe, and North Africa. Hikma has been an IFC client since 1987. This new project is a corporate loan to Hikma to finance the company’s modernization and expansion plans; help the company satisfy recent corporate governance and securities law reform requirements (the Sarbanes-Oxley Act of 2002); enhance its R&D facilities in Jordan; improve its balance sheet by refinancing short-term loans; establish a new facility in Algeria; and, expand its manufacturing facility in Portugal or make a strategic acquisition in an emerging market country such as India or China.

Environmental and Social

Conclusion & Monitoring

Environmental and Social Documentation

File Name Actions
Hikma CAP 07052003.doc