Polpharma pharmaceuticals invests in Africa

Photo: Glowimages

Analysts consider the Oran investment as a gateway to the wider African market.

“It is not just one one market, but the entire Northern Africa and Middle East,” Michal Bilikiewicz of international research firm IMS Health told the Puls Biznesu daily.

Polpharma is owned by tycoon Jerzy Starak, who was rated as Poland's sixth wealthiest citizen in this year's survey by the Wprost weekly.

Starak also owns pharmaceutical companies Polfa and Herbapol, and his group took over Kazakhstan firm Chimpharm in 2011.

The entrepreneur told Puls Biznesu that he is cooperating with “a local partner” in Algeria, and that formalities are currently being concluded.

“We will be able to discuss the scale of the project and the exact dates after the preparation of a business plan for the the entire project,” he said. (nh)