Avalon Pharmaceuticals, one of the fastest growing home-grown pharmaceutical companies in Saudi Arabia, has announced plans to continue its growth and investment trajectory with the opening of its fourth manufacturing plant, Avalon 4.
Anticipated to launch by 2026, Avalon 4 will be located in the industrial city in Riyadh and will focus on different forms of complex and high-tech medications such as oncology and general injectables, differentiating it from factories Avalon 1, 2 and 3, whose respective focuses are normal forms of prescription medications, health and personal care products and medical devices.
With its origins in Saudi Arabia, Avalon Pharmaceuticals has a storied 25-year history within the Kingdom, marked by its pursuit of excellence in the health, beauty, and prescription medicine sectors. With the company’s emphasis on innovation, research and development, Avalon today owns a broad portfolio of 75 brands, ranging from health care products like Salinose, AvalonActiv, Avomeb and Ez-Clean to cosmetic & personal care products such as Alpha Plus, Avalon Care and EZ Care, and extending to pharmaceutical drugs like Avogain, Avocom and Broncast.
The new factory, being built at a cost of SAR100 million ($26.7 milllion), will double the company's extensive portfolio range of more than 75 major medical products to 150 with 75 new products, a statement said.
Ahmad Al Tabbaa, Chairman of the Board at Avalon Pharmaceuticals, said: “Now in our 25th year serving Saudi Arabia, we consider ourselves to be one of the national champions of the kingdom, positioned for growth and consistent investment within the sector as we demonstrate proof points of Vision 2030 in action. This new factory plant will allow Avalon Pharma to enter a new and elite segment of medicines like anticancer and other injectable products. and we look forward to its realisation over the next three years.”
Across Saudi Arabia, Avalon Pharma has a well-established scientific presence in all public and private hospitals and polyclinics. The company has additionally created solid commercial relationships with the leading chain pharmacies, high-street pharmacies, regional distributors and leading hypermarket chains. The company is fully aligned with the Saudi Food and Drug Agency (SFDA) and the Ministry of Industry.
KSA pharmaceutical market is valued at SAR38.4 billion and is expected to grow at a CAGR of 7.3% to reach SAR67.4 b by 2030. Poised to reach revenue of SAR1 billion in KSA and the region by 2030, Avalon Pharma will continue to dominate the industry as one of the kingdom’s market leaders, with the intention for its economic impact on the sector to play a role in uplifting the overall prominence of Saudi Arabia’s healthcare industry, the company said.
Mohamed Maher Al Ghannam, Managing Director & CEO of Avalon Pharma, said: “As we are positioned at this point of growth and expansion for our company with Avalon 4, we look to both extend our influence, regionally and globally, in addition to continuing our deep investment towards our local customers. We look forward to achieving new heights with the addition of our fourth manufacturing plant as we continue this journey.
“To date we have invested over SAR400 million in our operation in addition to our research and development capabilities. We will continue at the same pace and inject further investments in the near future.”
Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info).