Logo of Saudi Chemical Co.
Saudi Chemical Co. Holding (SCCH) signed today, June 3, 2021, an agreement with GlaxoSmithKline Consumer Healthcare Saudi Ltd. to manufacture pharmaceutical products at AJA Pharmaceutical Industries Ltd. (AJA Pharma) in Saudi Arabia, the firm said in a statement to Tadawul.
The contract was signed through Saudi Chemical’s pharmaceutical unit, AJA Pharma.
The agreement aims to benefit from GlaxoSmithKline’s experience in the consumer healthcare sector and ensure the transfer of technology for consumer healthcare products to Saudi Arabia, followed by the commercial-scale production at AJA Pharma manufacturing site.
The agreement is for five years, with an expected revenue of around SAR 100 million, which means an increase in production capacity. Therefore, it is expected to result in creating more employment opportunities for Saudis.
This strategic collaboration will contribute to localizing the pharmaceuticals sector, Thamer Al-Muhid, chief executive officer (CEO) of SCCH, said in the statement.
He further emphasized that AJA Pharma aims to provide high-quality pharmaceutical products for the global pharma companies operating in the region.
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