SAUDI ARABIA – Saudi Chemical Company Holding (SCCH) and its subsidiary AJA Pharma have signed an exclusive partnership agreement with Aspen Healthcare, a subsidiary of Aspen Pharmacare Holdings Limited.
SJSC, a Saudi Arabia-based joint stock company, AJA Pharma, and Aspen have agreed to license and supply new pharmaceutical products in line with the aspirations of Saudi Arabia’s Health Sector Transformation Programme, which was launched as part of National Vision 2030.
In a press release, Aspen Healthcare said: “SCCH and AJA Pharma will further expand their existing partnership to strategically collaborate on an extended portfolio of products, the manufacturing of products in the Kingdom of Saudi Arabia, and the export of products to existing Aspen markets.”
Daniel Vella Friggieri, Regional Chief Executive Officer (CEO) at Aspen Pharmacare for the Middle East, North Africa & Turkey business, underscored that the strategic deal reiterates Aspen’s continuous commitment to align with Saudi Arabia’s Vision 2030.
Adopted as a blueprint to diversify the economy in the Kingdom of Saudi Arabia, Vision 2030 is a detailed plan that touches on many areas within the market, including the pharmaceutical sector.
The Saudi Vision 2030 goals include achieving 88% inclusive health coverage and getting the entire population onto the country’s unified medical records system by 2025.
“We are excited to announce our strategic collaboration with Saudi Chemical Company Holding and its subsidiary AJA Pharma. This agreement endorses Aspen’s drive to provide high-quality healthcare products to patients in the Kingdom, the Middle East region, and beyond,” added Friggieri.
In addition to boosting domestic drug production, the partnership agreement will contribute to helping consolidate Saudi Arabia’s position as a logistics and sourcing hub for the global pharmaceutical markets.
In his address, Thamer Almuhid, Saudi Chemical Company Holding Group CEO stated: “Nowadays technology and globalization play a more important role than ever.”
He pointed out that through the strategic partnership between Aspen and AJA Pharma, the three parties will ensure advancement in medical technologies and global market access to strengthen Saudi Arabia’s 2030 health vision.
AJA Pharma has set up a state-of-the-art manufacturing plant, offering integrated pharmaceutical services to both global companies in Saudi Arabia and to companies that are looking to enter the local market.
“We are pleased to partner with a trusted partner like Aspen and look forward to a prosperous strategic partnership,” Almuhid reassured the Aspen team.
Moreover, the partnership will pave the way for similar deals that will build on the momentum of the Saudi Vision 2030 and the Kingdom’s Health Sector Transformation goals, with a focus on quality care, and optimisation of treatment outcomes.
In January 2023, Saudi Arabia’s Ministry of Investment signed landmark deals with Boehringer Ingelheim and Novo Nordisk to enhance joint cooperation within the biotechnology and medicine sectors in the region.
The strategic deals aim to transfer knowledge and technology, localize the industry, enhance human health and quality of life, raise public awareness, and establish specialized research centers.
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