Search form

Last updated: 23 min 8 sec ago

You are here

Pfizer’s state-of-the-art manufacturing facility in Saudi Arabia will provide life-saving drugs to the local market.

Pfizer Company has opened its SR187.5 million ($50 million) state-of-the-art manufacturing facility, supporting the government’s Vision 2030 program.
Pfizer’s manufacturing site at the King Abdullah Economic City (KAEC) offers potential for more expansion to meet future needs, said company officials.
In addition to providing locally produced medicines to the Saudi market, the venture aims at promoting skilled employment and transfering expertise and technology to local employees.
Pfizer Saudi Limited, a subsidiary of Pfizer Inc., is making life-saving medicines at the plant, said senior executives.
In recognition of Pfizer’s commitment to Saudi Vision 2030, Saudi Arabian General Investment Authority (SAGIA) granted a trading investment license to its Saudi subsidiary last June. This gave Pfizer 100 percent ownership of its business in Saudi Arabia — permitting a direct supply of quality innovative and essential medicines to the Saudi market.
The Pfizer plant will initially produce 16 of the company’s essential pharmaceutical products in different phases, meeting local health needs.
The development incorporates medicine manufacturing and packaging technologies within a single complex.
The state-of-the-art facility been built to meet Pfizer’s rigorous global quality standards.
As well as producing vital pharmaceutical medicines in the Kingdom, this development will facilitate the transfer of expertise and technology from Pfizer to the local market.
The venture is expected to create more skilled employment opportunities for the people of Saudi Arabia.
The facility is expected to employ 124 people in the initial phase — around half of them are expected to be Saudi nationals.
Prince Saud bin Khalid Al-Faisal, acting governor of SAGIA, said: “Pfizer is one of the international companies investing in Saudi Arabia and this manufacturing facility is a concrete example of its contribution to the expansion of a localized pharmaceutical industry.”
He added: “This is the result of our ongoing and effective public-private sector partnership approach which is driving us toward achieving Saudi Arabia’s development goals, crystallized by Vision 2030.”
Health Minister Dr. Tawfiq Al-Rabiah said: “The localization of the pharmaceutical industry is very important. We will give every support to any pharmaceutical factory and any investor in this vital field.”
The minister said: “We have started already started coordinatiing with the concerned authorities to create additional incentives that contribute to boost the local share of this important industry.”
Hussein El-Hakim, country manager, Pfizer Saudi limited, said: “This facility is set to provide Saudi patients with locally manufactured medicines that can help transform their lives.”
He said: “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 continous and reliable supply of innovative and essential medicines for patients in Saudi Arabia.”
The Pfizer project, based at the KAEC on the west coast of the Red Sea, north of Jeddah, will benefit from the competitive advantages offered by the Saudi government, aimed at attracting more investors and promoting the city as a business and industry center of excellence that encompasses state-of-the-art infrastructure and amenities.

Latest in Corporate News

Around Arab News