The Saudi Arabian General Investment Authority (SAGIA) has signed a memorandum of understanding (MoU) with GlaxoSmithKline Saudi Arabia (GSK) to boost localization of pharmaceutical industries across the Kingdom.
Under the preliminary agreement, GSK will expand the local manufacturing capacity of its pharmaceutical portfolio and double operations by 2022, the Saudi Press Agency reported.
GSK will also explore additional opportunities for technology transfer, and attract more Saudi employees and local capabilities.
GSK has been operating in Saudi Arabia for more than 65 years and was the first multinational pharmaceutical company to establish a manufacturing facility in the Kingdom in 1992.
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