A step towards the localization of the diabetes medicine industry in Saudi Arabia

On Sunday, November 19, 2023, #damampharma and #amasd signed a cooperation agreement for the manufacture of Type II diabetes drugs in the kingdom, which will begin production in the first quarter of 2024, in the presence of His Excellency the minister of industry and Mineral Resources, Mr. Bandar bin Ibrahim al-khorayef, at the headquarters of the Ministry of industry and Mineral Resources.

The manufacture of diabetes drugs covers the kingdom's entire need for these drugs, and is aimed at exporting to regional markets, as the first factory in the Middle East and North Africa for this type of drugs.

Abdullah Nabil, general manager of the MSD branch in the Kingdom, explained that this agreement represents an important step in the localization of pharmaceutical industries, in line with the objectives of the kingdom's Vision 2030 aimed at enhancing local content, where the size of the pharmaceutical market today is approximately 34 billion riyals and is expected to reach 40 billion by 2030.this project will provide opportunities for the transfer of highly specialized Pharmaceutical Technologies and open new horizons for investment. it will also provide new employment opportunities in the labor market.

He stressed that the project is the first of its kind in the region, where our prescription diabetes medications will be manufactured in the kingdom of Saudi Arabia, noting that this partnership is a milestone in the kingdom's journey to achieve drug security, and facilitates access for patients in the kingdom to the most prominent innovations of "MSD".

For his part, Jerome Cabanis, CEO of SPIMACO Pharmaceuticals, said:"This partnership plays a crucial role for SPIMACO pharmaceuticals, and reaffirms the company's firm commitment to providing advanced specialized treatments in line with the highest international quality standards for patients and healthcare providers in the kingdom.it also confirms SPIMACO Pharmaceuticals' position as a leading pharmaceutical manufacturing company, and its role in raising the localization of the pharmaceutical industry and enhancing drug security in the kingdom.

He added that 17.7% of adults are living with diabetes in the kingdom, which today ranks second in the Middle East and seventh globally in terms of the prevalence of diabetes according to WHO data, and the local manufacture of "MSD" medicines for diabetes is an important step in the transfer and localization of pharmaceutical manufacturing techniques in the kingdom, as the agreement comes in line with the kingdom's Vision 2030 and the objectives of the national strategy for the industry aimed at supporting the localization of pharmaceutical products and enhancing the health and pharmaceutical security of the kingdom.

MSD has been working for more than a century to innovate treatments to improve the lives of patients, and to introduce medicines and vaccines to fight the most widespread and dangerous diseases in the world, which has made it one of the world's leading pharmaceutical companies in the pharmaceutical industry, and the local manufacture of "MSD" for diabetes will be an important step in the transfer and localization of pharmaceutical manufacturing techniques in the kingdom.

"Dammam Pharma", which is 85% owned by SPIMACO pharmaceutical company, focuses on manufacturing and marketing branded pharmaceuticals that achieve the best clinical results for patients and improve the economics of Medicine at the same time.the company also cooperates with leading suppliers in the field of raw materials supply and packaging, in addition to cooperating with many international companies, universities and research centers to ensure its achievement of excellence.