Strategic Partnership Between Avalon Pharma and DMSCO to Enhance Pharmaceutical Security in the Kingdom of Saudi Arabia
- The agreement was structured in line with Saudi Vision 2030, the National Transformation Program, and the Kingdom’s initiatives designed to localize pharmaceutical manufacturing and improve healthcare quality at competitive prices
Riyadh, Kingdom of Saudi Arabia – 6 June 2024: Avalon Pharma, one of the fastest-growing pharmaceutical companies in the Kingdom of Saudi Arabia, has announced a strategic manufacturing agreement with Al-Dawaa Medical Services Company (DMSCO).
Under the newly signed agreement, the two companies will collaborate to manufacture a range of essential medications required by the local Saudi market. This will ensure their sustainable availability while also preventing shortages, thereby ensuring the security of the local pharmaceutical supply.
The companies have pledged to work together to provide high-quality medications at competitive prices, helping to alleviate the financial burden on citizens and making medications more accessible. Both companies will strive to improve customer services regarding distribution and delivery and provide necessary information about medicines, positively impacting customers and suppliers.
This collaboration reaffirms both companies’ ongoing support for the significant and rapid advancement of the healthcare sector in the Kingdom of Saudi Arabia. This advancement is expected to enhance efficiency and quality, marking a significant step towards a bright future.
Speaking about the agreement, Mohammed Maher Al-Ghannam, Managing Director and CEO of Avalon Pharma, said: “This strategic partnership with DMSCO marks a pivotal moment in our journey to support the Kingdom’s healthcare objectives. By localizing the production of essential medications, we are ensuring a sustainable supply and contributing to our nation’s overall economic and social well-being. We are excited about the positive impact it will have on the healthcare sector in Saudi Arabia.”
The agreement reflects Avalon Pharma’s continued commitment to investing in growth and enhancing national drug and health security, which is in line with Saudi Vision 2030 and the National Transformation Program. The collaboration between Avalon Pharma and DMSCO supports the Kingdom of Saudi Arabia’s ambitious initiatives geared towards localizing the manufacturing of vital medications, thereby boosting the Kingdom of Saudi Arabia’s ability to achieve national drug and health security. Avalon Pharma aims to enhance its growth through innovative marketing strategies, achieving continued milestones such as registering new production lines in its factory, achieving profitability, and launching Avalon Pharma’s fourth manufacturing facility in the Kingdom.
Both companies expressed their optimism about the fruitful collaboration, emphasizing the importance of this step in supporting the healthcare sector in the Kingdom of Saudia Arabia and achieving positive changes that enhance efficiency and quality in the healthcare system, in line with the ongoing health transformation taking place both locally and internationally.
