Pharma giant Pfizer opens new $50m Saudi manufacturing hub

Pharma giant Pfizer opens new $50m Saudi manufacturing hub

The Saudi subsidiary of pharmaceutical giant Pfizer has announced the opening of a new $50 million manufacturing facility in the Gulf kingdom.

Pfizer Saudi Limited has launched its factory in King Abdullah Economic City (KAEC), and announced the start of manufacturing of a number of life-changing medicines for patients in Saudi Arabia.

The opening of this manufacturing facility is part of Pfizer’s support for the Saudi government’s Vision 2030 National Transformation Program.

Pfizer said in a statement that initially, the plant will produce 16 of the company’s pharmaceutical products in different phases to meet Saudi health needs in five therapeutic areas – cardiovascular, pain, anti-infective, urology and neurology.

The Pfizer facility represents investment of around $50 million and the site offers potential for expansion to meet future requirements, the company added.

The development incorporates medicine manufacturing and packaging technologies within one complex and is set to create new, skilled employment opportunities for Saudis.

In the initial phase, the facility is expected to employ 124 people, approximately half of whom are expected to be Saudi nationals.

Hussein El Hakim, country manager, Pfizer Saudi, said: “This facility is set to provide Saudi patients with locally manufactured medicines that can help transform their lives. In addition, the facility allows us to develop local manufacturing expertise and capabilities to help meet our shared commitment with the government to provide a continued reliable supply of innovative and essential medicines for patients in Saudi Arabia.”

Friday, 13 January 2017

Source: http://www.arabianbusiness.com/

January 13, 2017 / Pharma News