Pact inked to manufacture type 2 diabetes medications in Saudi Arabia – Saudi Gazette

Pact inked to manufacture type 2 diabetes medications in Saudi Arabia – Saudi Gazette

Saudi Gazette report RIYADH — Dammam Pharma Co., a subsidiary of Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO), signed a cooperation agreement with Merck Sharp & Dohme International (MSD) company, to manufacture type 2 diabetes medications in the Kingdom.The signing ceremony was held in the presence of Minister of Industry and Mineral Resources Bandar Alkhorayef at the headquarters of the Ministry of Industry and Mineral Resources. The production of type 2 diabetes medications slated to begin in the first quarter of 2024.The agreement is expected to meet the entire demand for these medicines in the Kingdom. This will be the first factory in the Middle East and North Africa to produce type 2 diabetes medicine, and the goal is to also export it to regional markets.Abdallah Nabil, general manager of MSD branch in Saudi Arabia, said that the agreement is a significant step toward localizing pharmaceutical industries. “The project aligns with the objectives of the Kingdom’s Vision 2030 to increase local production. The pharmaceutical market in the Kingdom currently amounts to