Pfizer to train KSU pharmacy students

Pfizer to train KSU pharmacy students
Updated 16 July 2018

Pfizer to train KSU pharmacy students

Pfizer to train KSU pharmacy students

In collaboration with King Saud University, Pfizer Saudi Arabia Ltd. has announced the organization of an extensive training course on Monday and Tuesday for students from the university’s College of Pharmacy. The course is part of many programs organized by Pfizer in cooperation with different Saudi universities with the objective to contribute to developing and qualifying Saudi students as well as enhancing their pharmaceutical skills. The programs come within the company’s efforts to effectively participate in the realization of the objectives of Vision 2030.
The training course will be offered by international experts and specialists from Pfizer with the aim to develop this vital sector in the Kingdom.
General Manager of Pfizer Saudi Arabia Ltd., Dr. Alaa Abdul Ghani explained that the course intends to empower Saudi pharmacy students and enrich them with practical and scientific experience that can enable them to work in the pharmaceutical sector and contribute to building their communities and nation. “At Pfizer we have used practical methods to express our commitment toward the Saudi community as well as our vision to contribute to the realization of Vision 2030, which is particularly concerned with employing Saudi youth. In this context, we launched this program to collaborate with colleges of pharmacy across the Kingdom,” he added.
Dean of the College of Pharmacy at King Saud University, Dr. Aws bin Ibrahim Al-Shamsan expressed his appreciation to Pfizer for taking the initiative by organizing this course and inviting international experts to enrich the Kingdom’s pharmaceutical industry by transferring their knowledge to Saudi students. He revealed that this program is the first of more pharmaceutical training programs to come in cooperation with different partners and sectors.
In early 2017, Pfizer Saudi Arabia Ltd. opened its new integrated plant at King Abdullah Economic City with an investment value exceeding $50 million. The plant aims to manufacture Pfizer products locally and transfer expertise, technologies, and trained personnel to the Kingdom. The new plant contributes to the provision of medications for different categories of patients, and also creates the opportunity to develop industrial expertise and qualify local competencies to manufacture drugs inside the Kingdom.
Pfizer Saudi Arabia Ltd., which falls under its parent company located in the US, has been operating in the Kingdom since the 1960s.


STC’s Q4 net profit jumps 15.6% to $714m

STC’s Q4 net profit jumps 15.6% to $714m
Updated 25 January 2021

STC’s Q4 net profit jumps 15.6% to $714m

STC’s Q4 net profit jumps 15.6% to $714m

STC’s net profit for the fourth quarter (Q4) of 2020 reached SR2.68 billion ($714 million), an increase of 15.6 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the net profit reached SR11.08 billion, an increase of 3.94 percent.

The revenues for Q4 reached SR15.21 billion — an increase of 14.69 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the revenues reached SR58.94 billion, an increase of 8.43 percent.

The gross profit for Q4 reached SR8.48 billion, an increase of 1.54 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the gross profit reached SR33.99 billion, an increase of 4.96 percent.

The operating profit for Q4 reached SR3.29 billion, an increase of 37.08 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the operating profit reached SR12.81 billion, an increase of 2.69 percent.

The earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for Q4 reached SR5.716 million — an increase of 14.62 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the EBITDA reached SR22.175 billion, an increase of 4.28 percent.

Nasser bin Sulaiman Al-Nasser, STC Group CEO, said the company has achieved the highest annual revenue in the past eight years. This achievement was primarily due to the increased demand for STC’s services and products, and the company’s ability to meet this demand promptly and efficiently, especially during the COVID-19 pandemic.

The STC Consumer Business Unit’s revenue has grown as a result of 27.5 percent increase in FTTH (fiber-to-the-home) and 10.6 percent increase in broadband subscribers, in addition to a 9 percent increase in data revenue during the current period compared to the previous period.

Further, the Enterprise Business Unit’s revenue has also increased during the 12-month period, by 24.6 percent, due to the company’s ability to provide the necessary support and innovative services to its customers in order to accelerate their digital infrastructure transformation. Despite the challenges faced by the Wholesale Business Unit due to the travel ban and its impact on international roaming revenues, the unit’s revenue increased during 2020 as well. Moreover, the revenue generated by STC’s subsidiaries grew by 13.8 percent during the current year, which contributed positively to achieving these results.

Al-Nasser highlighted STC’s success as a digital enabler for the Saudi G20 presidency, where STC provided critical telecommunications and digital services for all meetings as well as expanded the 5G network by 130 percent to accommodate the increase in digital services during the G20 summit.

Recently, the company launched three mega data centers in Riyadh, Jeddah and Madinah with the aim of enabling the digital transformation of the government and private sectors and strengthening the cloud infrastructure for the local digital economy in the fields of artificial intelligence, Internet of Things and cloud computing, in line with the Kingdom’s Vision 2030 goals.

Additionally, in order to enhance the infrastructure and accelerate the growth of the local digital economy, STC also signed a $500 million non-binding MoU to invest in the field of cloud services with Alibaba Cloud, the digital technology and artificial intelligence arm of the Alibaba Group.

STC Group was re-elected to the board of directors of the Global System for Mobile Communications Association (GSMA), following its win in the elections comprising the world’s 25 top telecommunications companies.

As part of STC’s strategy to support and develop the financial sector in the Kingdom, STCPay signed an agreement with Western Union to sell an equity stake of 15 percent at a value of SR750 million ($200 million), where the proceeds will be used to develop the company and support its expansion plans.