Abdul Latif Jameel Health, part of Abdul Latif Jameel, a nearly 80-year-old internationally diversified business, has announced its strategic acquisition of a majority stake in Genpharm, a specialty pharmaceutical marketing and consulting company with market access across the Middle East, North Africa and Turkiye.
The agreement marks a significant milestone for both businesses as they work together in putting patients first, driving healthcare inclusivity and accelerating access to modern medical care for those who need it most.
Genpharm was founded in 2012, with a steadfast commitment to evidence-based medicine and upholding the highest ethical standards. It stands as one of the pioneering regional companies first to introduce expertise in gene therapy to the region. Genpharm is also the preferred commercial partner for a wide range of rare genetic diseases, orphan drugs, and specialty therapeutics. Managed by seasoned senior pharmaceutical industry executives with extensive experience of the region and multinational organizations, Genpharm also provides its partners with strategic advice on disease areas, product launches and go-to-market strategies.
Co-founder and CEO Karim Smaira and Kamel Ghammachi, co-founder and chief commercial officer, said in a joint statement: “When we established Genpharm in 2012, we did so with the purpose to create a legacy and something we were proud of sharing with our children. With our significant joint global pharma experience, we knew there was a major gap in meeting rare disease patients’ needs across the Middle East.
“Our values — always put patients first, be passionate about what we do, and deliver on our promises — are entirely aligned with Abdul Latif Jameel Health’s mission to accelerate access to modern medical care.
“Joining an organization with the backing of Abdul Latif Jameel, one of the region’s most internationally respected businesses, means we can do more, reach more, and help more, while also ensuring the development and progression of our employees, who work incredibly hard to underline their commitment to bringing cures to MENA patients. We’re looking forward to working with Abdul Latif Jameel Health to achieve together and continue to strengthen our legacy.”
Akram Bouchenaki, chief executive, Abdul Latif Jameel Health, added: “We are incredibly impressed with the work Genpharm has achieved in this important sector of the region’s healthcare industry. In the last decade, Karim and Kamel have led their team to focus on delivering niche therapeutics for rare diseases as well as becoming pioneers in the delivery of gene therapy, which has seen innovative cures and treatments for patients in the region. It is this innovation and drive which attracts us to Genpharm and aligns with our mission to utilize technology and innovative approaches to accelerate access to medical care for those who need it most.”
The strategic acquisition will retain Genpharm’s existing executive structure with Smaira and Ghammachi continuing in their respective roles as CEO and chairman. Additionally, Bouchenaki will be transitioning into a new role within the Genpharm board of directors, further strengthening the company’s strategic governance.
Abdul Latif Jameel Health was created in 2020 as a response to the ongoing global disparity in access to modern medical care, focusing on driving healthcare inclusion across the Global South.
