Jamjoom Pharmaceuticals Guarantees Credit Facility for Algerian Joint Venture

Jamjoom Pharmaceuticals Factory Company announced on Monday its Board of Directors’ approval to provide a corporate guarantee to support a credit facility for its joint venture in Algeria, Jamjoom Algeria Lil Dawa SPA, in which the Company owns 49% of the share capital.

The corporate guarantee is issued to Société Générale Algérie SPA for a medium-term loan amounting to DZD 1.6 billion (approximately SAR 44.4 million).

The facility aims to finance a special production line for ophthalmology products at the existing Algerian facility.

The Company will guarantee DZD 784 million (approximately SAR 21.75 million), proportionate to its shareholding in the joint venture, in accordance with Saudi Law.