Addendum Announcement from Saudi Chemical Co. regarding the Contract Sign Off with Local Content & Government Procurement Authority for the localization of pharmaceutical product (Ticagrelor).

Addendum Announcement from Saudi Chemical Co. regarding the Contract Sign Off with Local Content & Government Procurement Authority for the localization of pharmaceutical product (Ticagrelor).

Element List

Explanation

Introduction

further to the announcement of the Saudi Chemical Co. Holding on January 29, 2024, regarding the Contract Sign Off with Local Content & Government Procurement Authority for the Localization of Pharmaceutical product (Ticagrelor).

Date of Posting the Previous Announcement of Development on Saudi Exchange’s Website

2024-01-29 Corresponding to 1445-07-17

Hyperlink to the Previous Announcement

Click Here

Change on the Development

The value of the agreement cannot be determined, as it was signed with the Local Content and Government Procurement Authority to localize and transfer knowledge of the manufacture of Ticagrelor to be include it in the mandatory list of national products issued by the Authority in accordance with the list of provisions for preferring local content and small and medium enterprises. This was after registering it with the Saudi Food and Drug Authority.

Financial Impact on the change

The expectation is to generate a total revenue exceeding SAR 35M over the 5-year period following commercialization

Addendum Announcement from Saudi Chemical Co. regarding the Contract Sign Off with Local Content & Government Procurement Authority for the localization of