Saudi Arabia - Astrazeneca and Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) signed a memorandum of understanding (MOU) during Thursday’s official visit of the Saudi Crown Prince Muhammed Bin Salman to the UK. This agreement confirms the intention to conclude an Investment, Development and Technology Transfer initiative including the launch of a Contract Manufacturing Operation arrangement (CMO) in the Kingdom of Saudi Arabia (KSA).

The MOU was signed by Leon Wang, executive vice president international & country president China — AstraZeneca, and Fahad Al Khalaf, CEO SPIMACO, in the presence of the Saudi ministerial delegation.

The CMO arrangement once concluded will allow AstraZeneca to work closely with SPIMACO to deliver local manufacturing of AstraZeneca pharmaceutical products, leveraging added value through SPIMACO’s manufacturing expertise to patients in the Kingdom. The total value of the combined investment is around $80m; in terms of impact this will enable the partners to reach around 3 million patients across Saudi Arabia, with locally produced innovative medicines that are highly relevant to local medical needs in the cardiovascular, diabetes and gastrointestinal areas. Alongside the innovation being localised, this CMO will be a significant generator of local high-skilled employment.