Pharmaceutical company GlaxoSmithKline announced that it has increased its stake in its Saudi factory in Jeddah to 100%.
GlaxoSmithKline is a global biopharmaceutical company that aims to combine science, technology and talent to help defeat disease. For more than 65 years, the company has been an important contributor to public health efforts in Saudi Arabia.
The company operates in Saudi Arabia through its factory (Glaxo Saudi Arabia Ltd.), which was launched in 1992 in the warehouse area, south of Jeddah, on an area of 48,000 square meters. The factory began offering commercial production in 1997.
The factory includes several production lines, including lines for the manufacture of topical and liquid medicines and tablets. It also seeks to provide the growing demand for medicines and vaccines in the Kingdom of Saudi Arabia by producing more than 20 million units annually to serve the Saudi market.
On this occasion, Farouk Rayhan, Vice President and General Manager of Glaxo Saudi Arabia, said: “It is a matter of pride that GlaxoSmithKline for multinational pharmaceuticals has established its own factory in the Kingdom since 1992, and today the company has acquired 100% of the share of this factory.”
Factory director Tariq Fida said: “For more than 25 years, GlaxoSmithKline has been producing groups of valuable medicines and vaccines for patients in the Kingdom. The company’s investment here is expected to be a continuation of its efforts to develop competencies and skills to help make a difference in patients’ lives.”
This step was supported by the Ministry of Investment in Saudi Arabia, and GlaxoSmithKline operates through its culture based on raising ambition towards providing what benefits more patients.
Okaz (Jeddah) @Okaz_online
