Dammam Pharma has signed an agreement with MSD in order to manufacture type 2 diabetes medication in Saudi Arabia.
The production of this medication will start in the first quarter of 2024. It is expected to meet the entire demand for these medicines in the Kingdom.
As per the reports, this will be the first factory in the Middle East and North Africa to produce this type of medicine, and the goal is to also export it to regional markets.
Mr. Abdallah Nabil, General Manager of MSD in Saudi Arabia, said that the agreement is a significant step toward localizing pharmaceutical industries, adding that the project aligns with the objectives of the Kingdom’s Vision 2030 to increase local production.
“The project will provide opportunities to transfer highly specialized pharmaceutical technologies to the Kingdom and create new scope for investment. It will also create new employment opportunities in the labor market,” noted Mr. Nabil.
Spimaco Pharmaceuticals CEO Mr. Jerome Cabannes stated that “this partnership reaffirms the company’s commitment to providing advanced specialized treatments, on par with the highest international standards, in the Kingdom, adding that the local manufacturing of MSD medication for diabetes constitutes an important step toward transferring and localizing pharmaceutical manufacturing technologies in the Kingdom.”
Mr. Cabannes further added that 17.7 percent of adults in the Kingdom have diabetes, which places the country second in the Middle East and seventh in the world in terms of prevalence of diabetes, according to the World Health Organization.