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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    A Saudi pharmaceutical company: We aim to expand into Arab countries, including Iraq

    Rocky
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    A Saudi pharmaceutical company: We aim to expand into Arab countries, including Iraq Empty A Saudi pharmaceutical company: We aim to expand into Arab countries, including Iraq

    Post by Rocky Thu 29 Feb 2024, 7:08 am

    A Saudi pharmaceutical company: We aim to expand into Arab countries, including Iraq

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    Economy News - follow up
    Chairman of the Board of Directors of the Saudi Alpha Pharma Company and CEO of Saqqala Healthcare Group, Yasser Al-Naghi, said that Alpha Pharma’s current investments amount to 350 million riyals in its only factory in King Abdullah Economic City in Rabigh, and it has a plan to expand in the hard disk division. The current project and the establishment of new production units for other pharmaceutical forms, such as all types of injections.
    He added in statements to Al Arabiya Business that Alpha Pharma has a plan to enter the markets of the Gulf Cooperation Council countries and is also considering entering other markets such as Iraq, Libya and Yemen, and is currently in the process of negotiating with some commercial parties in those countries.
    Offering in the Saudi market
    Regarding Alpha Pharma’s intention to offer and list in the Saudi market, Yasser Al-Naghi said that thinking about offering and listing in the Saudi market is premature, as the company is currently focusing on increasing its share in the local market and entering the targeted markets, whether through self-development of the targeted products. Developing and registering it or by entering into more strategic alliances with international technology donor companies
    Regarding the extent of the impact of the high cost of financing on the company currently, the Chairman of the Board of Directors of “Alpha Pharma” said that there is no impact of the high cost of financing on the company currently because it is wholly owned by the Saqala Healthcare Foundation, which finances the company directly, and the company does not currently have loans from financial institutions. Or local banks.
    Localization of the pharmaceutical industry
    Regarding the company’s goals to localize the pharmaceutical industry in the Kingdom, Al-Naghi said that Alpha Pharma, in cooperation with the Food and Drug Authority, localized the manufacture of a number of medications that suffer from the problem of availability, as these medications suffer from an interruption in their availability in the Saudi market, and this Part of the company's strategy.
    He explained that the company is taking steady and rapid steps towards the process of localizing the pharmaceutical industry in line with the Kingdom’s Vision 2030, as it obtained a good and rising number over two consecutive years in the standard for measuring the percentage of local content that companies are required to prepare by international consulting offices accredited by the Local Content Authority, which Many of the company's products qualified for a competitive percentage in the initial award results of the recent NUPCO tender.
    Regarding the signing of the partnership agreement between “Boehringer Ingelheim” and “Alpha Pharma” Saudi Arabia to produce one of the innovative medicines for type 2 diabetes in the Kingdom, Yasser Al-Naghi said that “Alpha Pharma” will transfer the production technology to its factory from “Boehringer Ingelheim” at a cost of 7.6 million. Rial.
    He explained that production will be in the existing factory, where the cost is divided into two parts: a capital cost that covers the cost of introducing some additional equipment to the current production machines, and the cost of transferring the technology for producing and analyzing the product from the factories of the company that owns the technology to the Alpha Pharma factory.


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