NEW ARAB DRUG COMPANY FOUNDED
The Arab Pharmaceutical Industries Company was founded in Tunis on April 13, according to a report from the TAP news agency in Tunisia.
The company, which will be based at Fondouk Choucha in Tunisia, will start manufacturing pharmaceuticals by the end of 1994. It will employ a workforce of 139 people and account for some 15% of Tunisia's annual production of pharmaceutical products.
The investment capital of the company, a total of $20 million, has been provided by several Arab drug companies and manufacturers, as well as by investment companies and banks, the report notes.
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