One of the biggest moves for pharmaceuticals and biotech in Saudi Arabia is the fact that one of the leading companies in the field and worldwide, Aurobindo PharmaNSE are willing to start the production of their first factory in Saudi Arabia. Aurobindo is one of the leading manufacturers of pharmaceuticals and biotech products in India.
The company has invested in the new initiative taken by the Saudi government in creating the first phase of the King Abdullah Economic City’s (KAEC) Industrial Valley, where they will have their first production facility in Saudi Arabia. This was through a deal that was made between the KAEC and the National Industrial Clusters Development program to shift the economy of Saudi Arabia to other markets like the biotech field.
This was commented on by the Managing Director and CEO of KAEC called Fahd Al-Rasheed who said, “This partnership is yet another indicator that KAEC is moving forward with its strategic goals and future vision. (KAEC) has been extremely successful in attracting the capital investment of local and international companies that know that KAEC is the ideal place to invest in across the region, thanks to a superior quality of life and world-class public services. The decision to base our company’s regional operations in Saudi Arabia came in response to the rising demand for our products in the (Arabian) Gulf. Marking our entry into the Saudi market, the new factory in the Industrial Valley will be a major turning point for our company.”