Two giants of global health care, AstraZeneca and SPIMACO, will spend a total of $80 million in Saudi Arabia to improve access to medicines throughout the country.
The joint investment will help to achieve Vision 2030 by transferring technology, and supporting local innovation and talent development.
AstraZeneca and Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) signed a memorandum of understanding (MoU) during the visit of Saudi Crown Prince Mohammed bin Salman to the UK.
The MoU was signed by Leon Wang, AstraZeneca’s executive vice president international, and Fahad Al-Khalaf, CEO of SPIMACO, in the presence of the Saudi delegation.
The partnership will allow AstraZeneca to work closely with SPIMACO to deliver local manufacturing of AstraZeneca pharmaceutical products, leveraging added value through SPIMACO’s manufacturing expertise to patients in the Kingdom. The program will reach around 3 million patients across Saudi Arabia, with locally produced medicines used to treat cardiovascular, diabetes and gastrointestinal problems.
The partnership will also generate local high-skilled employment.
Wang said: “I’m delighted to sign this strategic MoU, which is an important milestone in our journey as health-care partners of choice in Saudi Arabia, helping to achieve Vision 2030 ambition to become the investment powerhouse and the hub connecting three continents. This collaboration has the potential to transform the lives of patients in one of our key international markets.”
Al-Khalaf said: “SPIMACO is committed to deliver high-quality pharmaceutical products of international standards. This strategic alliance with AstraZeneca is fully supportive of our responsibility toward patients in Saudi Arabia and our commitment to health-care development in the Kingdom.”
Ismail Shehada, AstraZeneca’s country president for Saudi Arabia, said: “This CMO provides wider access of AstraZeneca’s innovative medicines to patients who need them, and is in strong alignment with Saudi Arabia’s Vision 2030. At AstraZeneca, we are committed to continue the strong strategic partnership with Saudi Arabia, a partnership that is based on cooperation and mutual responsibility to improve patients’ access to innovative technologies.
“Today’s MoU signature reinforces AstraZeneca’s commitment in terms of localization of manufacturing, innovative technology transfer, Saudi talent development, job creation and enhancing economic competitiveness.”
The joint investment will help to achieve Vision 2030 by transferring technology, and supporting local innovation and talent development.
AstraZeneca and Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) signed a memorandum of understanding (MoU) during the visit of Saudi Crown Prince Mohammed bin Salman to the UK.
The MoU was signed by Leon Wang, AstraZeneca’s executive vice president international, and Fahad Al-Khalaf, CEO of SPIMACO, in the presence of the Saudi delegation.
The partnership will allow AstraZeneca to work closely with SPIMACO to deliver local manufacturing of AstraZeneca pharmaceutical products, leveraging added value through SPIMACO’s manufacturing expertise to patients in the Kingdom. The program will reach around 3 million patients across Saudi Arabia, with locally produced medicines used to treat cardiovascular, diabetes and gastrointestinal problems.
The partnership will also generate local high-skilled employment.
Wang said: “I’m delighted to sign this strategic MoU, which is an important milestone in our journey as health-care partners of choice in Saudi Arabia, helping to achieve Vision 2030 ambition to become the investment powerhouse and the hub connecting three continents. This collaboration has the potential to transform the lives of patients in one of our key international markets.”
Al-Khalaf said: “SPIMACO is committed to deliver high-quality pharmaceutical products of international standards. This strategic alliance with AstraZeneca is fully supportive of our responsibility toward patients in Saudi Arabia and our commitment to health-care development in the Kingdom.”
Ismail Shehada, AstraZeneca’s country president for Saudi Arabia, said: “This CMO provides wider access of AstraZeneca’s innovative medicines to patients who need them, and is in strong alignment with Saudi Arabia’s Vision 2030. At AstraZeneca, we are committed to continue the strong strategic partnership with Saudi Arabia, a partnership that is based on cooperation and mutual responsibility to improve patients’ access to innovative technologies.
“Today’s MoU signature reinforces AstraZeneca’s commitment in terms of localization of manufacturing, innovative technology transfer, Saudi talent development, job creation and enhancing economic competitiveness.”
