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Supporting the government's "Vision 2030" program, Pfizer Company opens around $50m USD state-of-the-art manufacturing facility to provide locally produced Pfizer medicines, the transfer of expertise and technology, and skilled employment to Saudi Arabia
Jeddah - Pfizer Saudi Limited is a subsidiary of Pfizer Inc. formally opened its manufacturing facility in King Abdullah Economic City (KAEC), and announced the start-up of the operations for a number of life-changing medicines for patients in Saudi Arabia at the plant in 2017.
The opening of this manufacturing facility is part of Pfizer’s support for the Saudi government’s “Vision 2030” National Transformation Program. In recognition of this ongoing commitment, Pfizer was granted a trading investment license for its Saudi subsidiary (Pfizer Saudi Ltd) by the Saudi Arabian General Investment Authority (SAGIA) in June 2016. This gave Pfizer 100% ownership of its business in Saudi Arabia – to, among other things import, export and trade in products - permitting a supply of quality innovative and essential medicines directly to the Saudi market.
Initially, the Pfizer plant will produce 16 of the company’s essential pharmaceutical products in different phases meeting Saudi health needs in five therapeutic areas - cardiovascular, pain, anti-infective, urology and neurology.
The Pfizer facility represents around $50 million (USD) / 187.5m Saudi Riyal investment to date, and the site offers potential for expansion to meet future requirements. The development incorporates medicine manufacturing and packaging technologies within one complex, and has been built to ensure Pfizer’s rigorous and globally recognised quality standards.
As well as local production of Pfizer’s pharmaceutical medicines, this development will facilitate the transfer of expertise and technology from Pfizer to the local market and is set to create new, skilled employment opportunities for the people of Saudi Arabia. In the initial phase, this state –of-the-art facility is expected to employ 124 people, approximately half of whom are expected to be Saudi nationals.
Prince Saud Bin Khalid Al Faisal Acting Governor of SAGIA Said: “Pfizer is one of the international companies investing in the Kingdom and this manufacturing facility is a concrete example of its contribution to the expansion of a localized pharmaceutical industry. This is the result of our ongoing and effective public / private sector partnership approach which is driving towards achieving the development goals of the Kingdom, crystallized by Saudi Arabia Vision 2030.”
Following the opening ceremony, his Excellency Minister of Health Dr. Tawfiq Al-Rabiah, Said "The localization of the pharmaceutical industry is very important to ensure the availability of treatment at all time and to help us in achieving health objectives on the medium and long run, and create quality jobs for Saudis, and we will give every support to any medicinal factory and any investor in this vital vibrant area. We actually have started already in coordination with the concerned authorities to create additional incentives that contribute to increase the local proportion of this important industry. "said Rabiah" still a long way in the localization in the field of pharmaceutical industry and the data promises well for the prosperity of this industry in the Kingdom in light of the great support of the wise leadership. "
Hussein El Hakim, Country Manager, Pfizer Saudi limited Said: “This facility is set to provide Saudi patients with locally manufactured medicines that can help transform their lives. In addition, the facility allows us to develop local manufacturing expertise and capabilities to help meet our shared commitment with the Government to provide a continued reliable supply of innovative and essential medicines for patients in Saudi Arabia.”
Based at KAEC on the west coast of the Red Sea, north of Jeddah, the Pfizer project will benefit from the competitive advantages offered by the Saudi Government, aimed at attracting more investors and promoting KAEC as a business and industry centre of excellence that encompasses state of the art infrastructure and amenities.
The ceremony was attended by his Royal Highness Prince Saud Bin Khalid Al Faisal, Acting Governor of Saudi Arabian General Investment Authority, his Excellency Dr. Tawfiq Bin Fawzan Al Rabiah, Minister of Health, his Excellency Hamad Bin Mohamed Al Dhewailia, Vice Minister of Health for Health Affairs his Excellency Dr. Hisham Bin Saad Al Jadhey, CEO of Saudi Food and Drug Authority, Mr. Fahad Bin Abdulmohsen Al Rasheed, Group CEO and Managing Director of KAEC(King Abdullah Economic city), Mr. Waseem Khashogji, vice secretary general, Economic cities Authority,
Dr. Abdullah Al Ahmari, Assistant deputy for Supply and operations, MOH, and Dr. Fayad Dandashi, Assistant Deputy for private health sector Affairs. Represented Pfizer group of high level of senior executives including; Niall Condon, Vice president Pharma manufacturing operations, Tarek Yousef, PEH regional president AfME, Keith Dennie, vice president PGS operation, Suat Kusmer, Vice president PGS regional Operations, Menassie Taddese, PIH Regional president AfME, Hussien El Hakim Country Manager Saudi Arabia, PIH Lead Alaa Gamal and Fahad Al Dawood Scientific Office & Corporate Affairs Director.
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© Press Release 2017
