Saudi Chemical Company Holding (SCCH) through its pharmaceutical sector represented by AJA Pharmaceutical Industries Ltd. (AJA Pharma), has signed a memorandum of understanding (MOU) with an American pharmaceutical company Eli Lilly to manufacture insulin in the kingdom.
The agreement was signed at Saudi’s Ministry of Investment headquarters to mark the start of local manufacturing of Lilly’s insulin products registered in the Kingdom, SCCH said in a statement to the Saudi Stock Exchange (Tadawul).
The MoU received support and empowerment from the Ministry of Investment in order to develop investments in the healthcare sector and pharmaceutical industry in Saudi Arabia and to support local and international companies to expand their regional presence.
Thamer Al-Muhaid Group CEO SCCH
“We seek to strengthen AJA Pharma’s position in the local and global pharmaceutical manufacturing sector and to develop its capabilities in biomedical technology through this strategic cooperation with Lilly. This would be a significant step towards localizing and transferring insulin manufacturing techniques, resulting in ensuring drugs security in Saudi Arabia, training of national personnel, as well as creating more qualitative employment opportunities in line with the objects of Vision 2030.”
Global healthcare company Eli Lilly was the first company to produce insulin, the hormonal protein used in the treatment of diabetes, on a mass commercial basis. Under the MoU, the local manufacturing of Lilly’s insulin products will be carried out through AJA Pharma.
Throughout its 40 years of serving patients in Saudi Arabia, Lilly continues delivering high-quality medicines that meet real-world needs and contributing to the development of a knowledge-based economy in the country. The US-based company has been progressing on nationalizing its workforce within Saudi Arabia, as well as operating clinical trials, and has opened a regional headquarters in Riyadh.
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