The company - a partnership between Saudi-based Zimmo Trading, Egypt-based Global Napi Pharmaceuticals and Syria-based Unipharma Pharmaceutical Industries – made the announcement after agreeing a deal with developers, Emaar, The Economic City (EEC), to build a pharmaceutical factory in KAEC's Industrial Valley.
Saudi Arabia has been keen to encourage pharmaceutical companies to build in KAEC due to the belief that high-quality jobs and training, along with the manufacture of beneficial products will “contribute to the well being of Saudi citizens.”
Mohammed Zimmo, president of Saudi company, Zimmo Trading, heaped praise on the facilities provided by EEC, saying: “This alliance is the first of its kind between three key industry players, setting the milestone for a major uplift in the pharmaceutical industry and contributing to its localisation in the Kingdom.”
President of Global Napi Pharmaceuticals, Makram Mehany, also expressed his delight at the deal, which he claimed provides Shamla with an important foothold in the country.
“We are very pleased with our presence in KAEC,” he said, “the new factory represents an important stepping stone to expand our activities in the Kingdom. We are committed to our patient-centric vision and to ensuring that our products comply wit the highest industry standards.”
Mohammed Matouk, founder and president of Unipharma Pharmaceutical Industries said he believed the position of the new facility will play a key role in its future success.
“It is important to have the new factory at the Industrial Valley in KAEC as it enjoys a strategic location integrated with a world-class seaport serving as a gateway to regional and international markets.”
Market share
According to EEC, the KAEC aims to be a “social and economic enabler” for Saudi Arabia, encouraging local and international manufacturers to open large facilities and providing them with a whole host of “business-friendly” regulatory benefits as sweeteners.
But Hussam Mitwally, Shamla's board secretary, pointed out that the benefits and advantageous infrastructure offered by KAEC are only part of the reason behind Shamla's decision to build.
“Local pharmaceuticals represent only 21 per cent of the Saudi market share,” he said, “This alongside a competitive market climate have been key drivers to direct investment in this prominent sector.”