Monday 25 June 2018
 
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SAUDI PHARMA MARKET SEEN AT $4bn

Top officials at the signing ceremony

Al Mas to set up vaccine production plant at KAEC

KING ABDULLAH ECONOMIC CITY, 24 days ago

Saudi Arabia’s King Abdullah Economic City (KAEC) has signed a contract with Al Mas International Pharmaceutical Industry to establish one of the largest BCG vaccine production plants in the world.

The first phase of the plant, which will be the first to produce BCG vaccines in the Middle East, will be built on 40,000 sq m of land leased in the Industrial Valley.

“We are aiming to make KAEC the largest pharmaceutical complex in the region by attracting local and international companies that meet the needs of the local market. Imports constitute about 80 per cent of the Saudi market’s needs, thereby making localisation of the pharmaceutical and healthcare industries a strategic priority for KAEC in order to contribute to achieving pharmaceutical security in the kingdom,” said Engineer Ayman Mansi, CEO of the Industrial Valley.

“The Industrial Valley devotes special attention to the pharmaceutical industries sector due to its contribution to the healthcare of citizens by securing treatment at all times, and the sector’s provision of excellent job opportunities for Saudis.”

Mohammad Al Esayi, chairman of Al Mas International Pharmaceutical Industry, said: “Al Mas will begin building the plant in the near future, as soon as we have completed the plans and blueprints, which need to be compatible with the advanced technology being transferred to the kingdom.

“The first phase, which is expected to be completed in mid-2021, will include cells storage in these vaccines, which are being manufactured for the first time in the region and will also be the first production of active vaccines in the Middle East.”

Al-Esayi also revealed that another project is currently being developed for future plants to cover the needs of the Saudi, Gulf and regional markets, taking advantage of the logistic services offered by the Industrial Valley, King Abdullah Port and the re-export zone, along with the advanced infrastructure which are the cornerstone as a success for pharmaceutical projects.

Mansi noted that the localisation of the pharmaceutical industry is a strategic priority to achieve pharmaceutical security in the kingdom, as its consumption of medication is estimated at more than SR15 billion ($4 billion) annually.

“it is the largest in terms of total value in the Arab pharmaceutical market, while the local industry covers about 20 per cent of the demand in the local market,” Mansi added. “The major investment opportunities provided by the Industrial Valley, which is directly connected to King Abdullah Port, qualifies it to become a major destination and an advanced supply point for logistics services and industries in the region.”

Al Mas International Pharmaceutical Industry recently established to launch one of the largest vaccine plants in the world and the first of its kind in the region in alliance with the European company AJ Vaccines, which recently acquired the entire vaccine production of the prestigious European Statens Serum Institut (SSI), which boasts 120 years of experience.

KAEC is the largest privately-funded new city in the world. Situated on the west coast of Saudi Arabia, it comprises King Abdullah Port, the Coastal Communities residential districts, the Haramain Railway district and the Industrial Valley. – TradeArabia News Service




Tags: KAEC | production plant |

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