Pfizer Opens Manufacturing Plant in Saudi Arabia
Pfizer Saudi Limited, a subsidiary of Pfizer, has opened a manufacturing facility in King Abdullah Economic City (KAEC), Saudi Arabia and has begun operations for producing 16 medicines at the plant. The 16 pharmaceutical products are in different phases of development for indications in five therapeutic areas: cardiovascular, pain, anti-infective, urology, and neurology.
The facility represents an approximately $50 million, or Saudi Arabian Riyal 187.5 million, investment to date by Pfizer, and the site offers potential for expansion. The facility incorporates medicine manufacturing and packaging technologies within one complex.
In addition to local production of Pfizer’s pharmaceutical products, the facility will enable the transfer of expertise and technology from Pfizer to the local market and is set to create new employment opportunities. In the initial phase, the facility is expected to employ 124 people, approximately half of whom are expected to be Saudi nationals.
The opening of Pfizer’s manufacturing facility is part of a national program being implemented by the Saudi government, known as the Vision 2030 National Transformation Program. Pfizer was granted a trading investment license for its Saudi subsidiary, Pfizer Saudi, by the Saudi Arabian General Investment Authority (SAGIA) in June 2016, giving Pfizer 100% ownership of its business in Saudi Arabia.