Dammam Pharma, MSD Unite for Type 2 Diabetes Drug Production
Dammam Pharma and MSD signed an agreement at the Ministry of Industry and Mineral Resources to manufacture Type 2 diabetes medications in Saudi Arabia. Dammam Pharma is 85% owned by Spimaco, and MSD is also known as Merck Sharp & Dohme International.
Production and Domestic Impact
The collaboration signifies a major step in healthcare progress for the Kingdom. Also, the production of these medications would begin in the first quarter of 2024. This initiative aims to meet the domestic demand for Type 2 diabetes medicines in Saudi Arabia.
Dammam Pharma: Infrastructure Development and Self-Sufficiency
Dammam Pharma, as a subsidiary of the Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO), plays a crucial role in this agreement. The partnership with MSD not only aims at manufacturing but also involves setting up the necessary infrastructure for the production of these specialized medications. The establishment of a manufacturing center in Saudi Arabia is a part of this agreement, which will significantly enhance the country’s self-sufficiency in the production of essential medicines by the next year.
This joint venture is a testament to the growing capabilities and ambitions of the pharmaceutical sector in Saudi Arabia. It represents a strategic move to boost local production, reduce reliance on imports, and ensure the availability of critical healthcare treatments within the Kingdom.
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