IssuerAnnouncementDetailsV2Portlet
Actions
Saudi Chemical Company Holding (SCCH) announces signing an agreement with DR. REDDY’S LABORATORIES LTD for Licensing rights of injections products.
| Element List | Explanation |
|---|---|
| Date of Announcement of the Award | 2023-12-18 Corresponding to 1445-06-05 |
| Contract Subject Matter | AJA Pharmaceutical Industries Ltd. (AJA Pharma) will get the Licensing rights of (03) of Dr. REDDY’S developed injections products for registration and commercialization in the Kingdom of Saudi Arabia and other (GCC) countries. |
| Date of Signing the Contract | 2023-12-18 Corresponding to 1445-06-05 |
| Contract Value | SAR 100 MN |
| Contract Details | Saudi Chemical Company Holding (SCCH) through its subsidiary AJA Pharmaceutical Industries Ltd. (AJA Pharma) has entered into a definitive agreement with DR. Reddy’s Laboratories LTD, where AJA Pharma will get Licensing rights for three (03) of Dr. Reddy’s developed injections products for registration and commercialization in the Kingdom of Saudi Arabia and other (GCC) countries. Through this agreement, SCCH aims to forge a partnership with Dr. Reddy’s and discuss in future a tech-transfer of these products to be produced locally in Aja Pharma plant. |
| Contract Duration | 5 Years |
| Financial Impact and the Relevant Period | The signing of the contact is expected to bring-in the cumulative revenues of SAR 100 million in 5 Years starting from 2025. |
| Related Parties | None |
| Additional Information | Commenting on the agreement, Eng. Thamer Al-Muhid, GCEO of SCCH and MD, said: “This agreement represents a major milestone for SCCH Pharma Sector in the progress towards realizing our country’s Vision 2030 and ensuring pharmaceutical security. We will be able to serve and meet the growing needs of the community by localizing and enhancing our local capabilities to produce pharmaceuticals that require high technical abilities, and which we produce in our diverse production lines; and God willing, a sterile production line will soon be added after qualifying by the relevant authorities. We are confident that this partnership will strengthen our commitment to high-quality for a sustainable growth and innovation in the healthcare sector in the Kingdom of Saudi Arabia and the region.” |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Share
Company Performance
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions