Hikma and IFC Sign $250 Million Deal, Celebrating 40-Year Partnership to Boost Access to Medicines in MENA
Hikma Pharmaceuticals PLC, a multinational pharmaceutical company, has signed a new $250 million, six-year financing agreement with the International Finance Corporation (IFC), a member of the World Bank Group. The deal aims to strengthen local medicine production and expand access to quality healthcare across the Middle East and North Africa (MENA) region.
This agreement marks a significant milestone in a 40-year strategic partnership between Hikma and IFC. It builds upon IFC’s anchor role in Hikma’s $500 million, five-year bond issuance, which included a $50 million subscription from the corporation. The new financing is expected to further enhance Hikma’s manufacturing capabilities, operational resilience, and outreach in regional markets facing critical healthcare needs.
A Legacy of Impactful Collaboration
Since the inception of their partnership, IFC has supported Hikma through tailored financing and advisory services aligned with the company’s regional and global growth strategies. Notably, in 2017, IFC provided a loan that helped facilitate Hikma’s regional expansion, and in 2020, it extended a financing package that ensured the uninterrupted distribution of medicines during the COVID-19 pandemic.
Mazen Darwazah, Executive Vice Chairman and President of MENA at Hikma, emphasized the partnership’s significance:
“Our longstanding relationship with IFC has helped us navigate new markets and respond to urgent health challenges. This new financing strengthens our ability to deliver affordable, high-quality medicines and reflects our shared values around corporate governance and sustainability.”
Hikma, listed on the London Stock Exchange since 2005, operates in more than 50 countries across MENA, North America, and Europe. With 2024 revenues surpassing $3 billion, the company has been recognized in the FTSE4Good Index for ten consecutive years and was awarded IFC’s Client Leadership Award in 2012 for its sustainability leadership.
Khawaja Aftab Ahmed, IFC’s Regional Director for the Middle East, Pakistan, and Afghanistan, reiterated the partnership’s long-term impact:
“Our 40-year journey with Hikma illustrates the potential of public-private collaboration in advancing healthcare access in emerging markets. Together, we’ve helped expand essential medicine delivery during crises and continue to support local pharmaceutical production, which is crucial amid global supply chain disruptions.”
Celebrating a 40-Year Partnership
The anniversary of the Hikma–IFC collaboration was celebrated at Hikma’s headquarters in Amman on 14 July 2025, with senior executives and regional partners in attendance. The event honored their joint commitment to building resilient healthcare systems across the MENA region and supporting sustainable pharmaceutical innovation in emerging economies.
