AJA Pharma has signed an agreement with Switzerland-based Novartis to manufacture diabetes and blood pressure drugs in Saudi Arabia.

The deal reflects the promising investment opportunities in the kingdom, the Saudi Press Agency (SPA) reported, citing Rafat Taher, managing director for healthcare and life Sciences at Saudi Arabian General Investment Authority (SAGIA), as saying.

The two firms will produce these drugs in a facility in the northwestern Saudi city of Ha'il and this will provide more than 30,000 job opportunities for Saudi youth in the pharmaceuticals sector.

The partnership’s initial value in tablets production line is estimated at SAR 50 million, while the value of drugs which are expected to be nationalised in the coming five years surpassed SAR 1 billion.

Novartis plans to transfer its experience to the kingdom in line with Saudi vision 2030, Country Head and General Manager in Novartis, Jihad Al Kaissi said.

The cooperation between AJA Pharma and Novartis will directly contribute to raising the Saudi local content in the pharmaceuticals sector and implementing Saudisation in the kingdom, AJA’s deputy general manager Faisal bin Dail stated.

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