Saudi Chemical subsidiary signs MoU with Swiss Lagap to develop pharmaceuticals

Logo of AJA Pharma

Saudi Chemical Co. Holding (SCCH), through its pharmaceutical sector represented by the subsidiary AJA Pharmaceutical Industries Ltd. (AJA Pharma), signed today, Feb. 1 a memorandum of understanding (MoU) with Lagap SA, a Swiss-based pharmaceuticals producer.

The memorandum was signed at the Saudi Export stand during the Arab Health Exhibition 2023, the company said in a statement to Tadawul.

It added that the MoU is aimed the co-development of pharmaceutical products and launch them in European and Middle East markets.

Under the MoU, both parties will explore the best utilization of their strengths in their respective markets and leverage their development, manufacturing, and resource capabilities to launch new products in the field of branded generics pharmaceuticals. This will contribute to achieving the medicine security objectives locally and regionally.

The memorandum is effective for one year, the statement said, adding that there are no related parties.

The relevant financial impact will be determined later, the company noted.