25 Jumada I 1445 - 9 December 2023
    
Sign up for newsletter
Eye of Riyadh
Business & Money | Friday 22 September, 2023 3:05 am |
Share:

MODON says SAR 500 mln vaccine firm to be set up in Sadeer

The Saudi Authority for Industrial Cities and Technology Zones (MODON) agreed with Vaccine Industrial Co. (Vaccine) to set up a SAR 500 million factory in Sadeer City to strengthen the pharmaceutical security system and localize the manufacturing of vaccines and biomedicines in the Kingdom.

 

 

 

This agreement comes in line with MODON’s strategy to create an integrated industrial and investment community to attract national and foreign investor partners and to reinforce its initiatives and efforts to enhance the sustainability of the industrial sector, the state-run SPA reported.

 

 

 

The 42,000 square meter-manufacturing facility will provide around 150 new jobs. It aims to export 20% of seasonal flu virus, COVID-19, chickenpox, and rotavirus vaccines, in addition to pneumococcal and meningitis vaccines, given the strong demand for Saudi pharmaceutical exports in the Gulf and regional countries.

 

 

 

The company will localize the state-of-the-art vaccine technologies, clinical trials, and also enhance research and innovation in the field of vaccine manufacturing in cooperation with the related government sectors. 

 

 

 

Source: Argaam 

 

Share:
Print
Post Your Comment
ADD TO EYE OF Riyadh
RELATED NEWS
ACWA Power, EIG sign $500 mln agreement
ACWA Power, EIG sign $500 mln agreement
Sunday 29 October, 2023 12:49
MOST POPULAR