Saudi Chemical says value of contract with LCGPA to localize pharma product cannot be determined

31/01/2024 Argaam

Saudi Chemical Co. Holding (SCCH) said that the value of the contract signed with the Local Content and Government Procurement Authority (LCGPA), cannot be determined.

 

In a statement to Tadawul, the company said the agreement with concluded with LCGPA for the localization and knowledge transfer of the manufacture of Ticagrelor. The drug will be included in the products mandatory list.

 

This came after registering the product with the Saudi Food and Drug Authority (Saudi FDA).

 

The step is expected to generate revenues exceeding SAR 35 million over the five-year period following commercialization, the statement added.

 

According to data compiled by Argaam, Saudi Chemical, represented by AJA Pharmaceutical Industries Ltd. (AJA Pharma), recently signed a contract with LCGPA for the localization and technology transfer of the pharmaceutical product, Ticagrelor, for its inclusion on the mandatory list.

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