Hikma and IFC Seal $250M Deal to Boost Medicine Access Across MENA Region

In a bold move to strengthen local pharmaceutical production and expand access to essential medicines across the Middle East and North Africa (MENA), Hikma Pharmaceuticals PLC has secured a $250 million six-year financing agreement from the International Finance Corporation (IFC), a member of the World Bank Group.

The deal, announced this month, marks the latest milestone in a 40-year partnership between the two institutions and builds on IFC’s previous $50 million anchor investment in Hikma’s $500 million five-year bond issuance. The financing will be directed toward scaling Hikma’s operations across key MENA markets and addressing high unmet healthcare needs in the region.

Longstanding Collaboration with Global Impact

The relationship between IFC and Hikma has spanned four decades, during which the organizations have jointly tackled critical regional health challenges. Since its first investment in Hikma, IFC has provided financial support and strategic advisory services, contributing to the company's expansion, resilience, and focus on sustainability.

In 2017, IFC extended a loan that supported Hikma’s regional market expansion, and in 2020, it provided an emergency financing package to ensure the uninterrupted distribution of medicines during the COVID-19 pandemic. These interventions were pivotal in maintaining public health stability across the region at critical junctures.

“Our longstanding partnership with IFC has supported our expansion into new markets over the past four decades,” said Mazen Darwazah, Hikma’s Executive Vice Chairman and President of MENA. “This latest financing strengthens our ability to respond to urgent healthcare needs and continue our mission of making affordable, high-quality medicines more accessible to the communities we serve.”

A Shared Vision for Resilient Health Systems

Hikma and IFC’s shared commitment extends beyond capital and into broader principles of corporate governance, sustainability, and regional development. Their collaboration is rooted in the understanding that strong health systems are essential to social and economic stability.

Khawaja Aftab Ahmed, IFC’s Regional Director for the Middle East, Pakistan, and Afghanistan, emphasized the global relevance of their partnership:

“This 40-year journey demonstrates what’s possible when a global development institution and a forward-looking private sector leader join forces. Together, we’ve helped expand access to medicines across emerging markets, responding to crises like the pandemic and reinforcing local manufacturing capacity for long-term resilience.”

Hikma’s Global Footprint and Sustainability Milestones

Founded in Amman, Jordan, Hikma Pharmaceuticals now operates in over 50 countries spanning MENA, North America, and Europe. In 2024, the company reported revenues exceeding $3 billion, fueled by its commitment to local manufacturing, strategic acquisitions, and global partnerships with multinational pharmaceutical firms.

Since its listing on the London Stock Exchange in 2005, Hikma has consistently demonstrated excellence in sustainability and corporate responsibility. The company was featured in the FTSE4Good Index for ten consecutive years and received the IFC Client Leadership Award in 2012, recognizing its achievements in governance and sustainability.

With a robust portfolio and an agile supply chain, Hikma is positioned as one of the region’s most influential pharmaceutical companies, enabling better health outcomes through affordable and timely access to essential medications.

Celebrating a Legacy of Impact

The 40-year anniversary of the Hikma-IFC partnership was commemorated on 14 July at Hikma’s headquarters in Amman, Jordan, where executives, stakeholders, and dignitaries gathered to reflect on past successes and reaffirm a shared commitment to building stronger, more inclusive health systems in the face of ongoing global and regional challenges.

The event underscored the importance of public-private collaboration in achieving sustainable development goals, especially in the face of ongoing conflict, supply chain disruptions, and climate-driven health threats in the MENA region.

Looking Ahead: Scaling for Future Resilience

With the new $250 million in funding, Hikma aims to increase local production capacity, diversify its portfolio, and accelerate research and development. The focus will remain on lifesaving treatments, critical care therapies, and chronic disease management, all areas in which demand is rising across MENA due to demographic shifts and epidemiological trends.

The partnership serves as a model of impact investing, combining financial support with policy alignment and developmental goals. Both IFC and Hikma are poised to make deeper, broader investments in health infrastructure, not only to meet immediate needs but to future-proof the region’s healthcare systems.