The efforts of the Saudi Arabian General Investment Authority (SAGIA), through its joint cooperation with international pharmaceutical companies and leading national pharmaceutical manufacturers, have resulted in the signing of an agreement between Novartis and AJA Pharma, so as to manufacture pharmaceutical products to treat diabetes and blood pressure..
In signing this agreement at the SAGIA headquarters in Riyadh, Novartis was represented by its General Manager, Dr. Jihad Al Qaisi, while AJA Pharma was represented by Dr. Faisal Bin Dayel, Deputy General Manager and Head of the National Committee for Pharmaceutical Industries at the Council of Saudi Chambers, in the presence of His Excellency the Governor of SAGIA, Eng. Ibrahim bin Abdul Rahman Al-Omar.
This agreement aims at ensuring the transfer of technology to support the manufacturing of pharmaceutical products. In cooperation with Novartis, AJA Pharma will manufacture these products at its pharmaceutical plants in Ha’il, providing more than 30 new job opportunities for Saudi youth in the pharmaceutical field during the first year. In this respect, an investment volume of SAR 50 million will be made into a production line and the expected value of the nationally-manufactured medicines will, therefore, amount to over SAR 1 billion within the next five years.
For his part, Dr. Rafat Taher, Managing Director of Healthcare & Life Sciences at SAGIA, said that the agreement between Novartis and AJA Pharma reflects the positive investment environment of the Kingdom of Saudi Arabia. The healthcare is one of the core economic sectors that offers a platform for activating constructive partnerships between global and national companies, which is embodied in such a partnership, bringing not only inward investment, but also advanced manufacturing technologies and expertise that will enhance the performance of the Saudi pharmaceutical market towards achieving new excellence heights.
Whereas, Novartis’ General Manager, Dr. Jihad Al Qaisi, affirmed that the Company is seeking to transfer the technology and manufacture products invented by Novartis in KSA, in line with the ambitious economic plans of the Government of the Custodian of the Two Holy Mosques and Crown Prince, represented in the Saudi Vision 2030.
In this respect, Dr. Faisal Bin Dayel, Deputy General Manager of AJA Pharma, explained that this strategic cooperation between AJA Pharma and Novartis will directly increase local content in the pharmaceutical industry, as well as contribute to the transfer of technology and localization of the pharmaceutical industry in KSA, pointing out that AJA Pharma seeks to provide the best pharmaceutical manufacturing services in accordance with the latest methods adopted in the global pharmaceutical industry, where a pharmaceutical plant was built in Ha’il over a 120,000 square-meter land, according to the highest European and American international standards in this respect.