RIYADH - The Saudi Chemical Holding Company, through its pharmaceutical sector represented by Aja Pharmaceutical Industries (Aja Pharma) and Eli Lilly Saudi Company Ltd., announced the signing of a memorandum of understanding at the headquarters of the Ministry of Investment to manufacture Lilly’s insulin products registered in the Kingdom of Saudi Arabia, through Aja Company. Pharma), a subsidiary of the Saudi Chemical Holding Company. This agreement aims to raise and enhance the local production of insulin and expand the company’s services to include the Saudi and global market.

The Saudi Chemical Holding Company announced the investment in vital sectors and value-added projects to serve the community and meet its needs, and contribute to diversifying national industries, increasing local content, and advancing the economic development of the Kingdom towards achieving the goals of Saudi Vision 2030.

This Memorandum of Understanding shall be deemed effective on the date of its last signature (08/30/2021) and shall remain in effect until the two parties enter into a binding agreement regarding cooperation between them or until the Memorandum of Understanding is terminated by either party in accordance with the agreed terms and conditions.

Related parties There are no related parties

Financial Impact It is not possible to determine the financial impact of this memorandum, knowing that the company will announce developments in this regard later. 

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Lilly has been a leading global healthcare company for more than 140 years, built on the principle of combining care and discovery to create medicines to better meet the need of society around the world. A hundred years ago, Lilly was the first manufacturer of commercial insulin to help people with diabetes. For 40 years of the company in the Kingdom, it continues to provide high-quality medicines that meet the needs of the world and contribute to the development of the knowledge-based economy in line with Vision 2030.

Lilly is committed to working in the process of nationalizing the workforce, investing in clinical trials, and opening a new regional headquarters in Riyadh in accordance with the Memorandum of Understanding with the Ministry of Investment. Today, Lilly Company announces a Memorandum of Understanding with (Aja Pharma) Company for the local manufacture of the company's products and supplying them to the Saudi market.

Dimitri Levadas, President and General Manager of Lilly Saudi Arabia, said: “We are pleased to sign a Memorandum of Understanding with (Aja Pharma), and we affirm our commitment to strengthening our presence and future in the Kingdom of Saudi Arabia, and with national cadres to serve the Saudi community. Lilly is committed to Vision 2030 and seeks to develop healthcare capabilities. We look forward to continuing to enhance our local footprint and serve patients who need our medicines.”

Commenting on the memorandum of understanding, Eng. Thamer Al Muhaid, Group CEO, said, “Through this strategic cooperation with Lilly Pharmaceuticals, a world leader in the insulin industry, we seek to strengthen Aja Pharma’s position in the local and global pharmaceutical manufacturing sector and develop its capabilities in the field of biomedical technology; Which will be an important step towards transferring and localizing the technology of the insulin industry in the Kingdom and what this achieves in terms of ensuring pharmaceutical security in the Kingdom of Saudi Arabia, training national cadres, and creating more quality job opportunities in line with the objectives of Vision 2030.”

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(Aja Pharma) owns a factory for medicines and pharmaceutical products in the city of Hail, Saudi Arabia, where a wide range of pharmaceutical products are manufactured in various doses, according to the latest approved research and development results and through cooperation with specialized global partners. Depending on the capabilities and industrial technologies of the Aja factory in accordance with international quality standards, sterile syringes will be produced in both liquid and dry types to meet the increasing market demands for specialized treatments. At Aja Pharma, we aim to be the preferred partner, to provide the best to our customers and serve our community, industry sector and environment around us in pursuit of achieving the Kingdom’s Vision 2030 with regard to healthcare and pharmaceutical industries.