Saudi Chemical unit signs non-binding MoU with Cypriot’s Remedica

Logo of Aja Pharma Pharmaceutical Industries

Saudi Chemical Company Holding’s (SCCH) pharmaceutical division Aja Pharma Pharmaceutical Industries has signed a non-binding memorandum of understanding (MoU) with Remedica Ltd., a Cypriot pharmaceutical company.

The MoU aims to develop and enhance a range of pharmaceutical products and provide high-quality, innovative medicines, the company said in a statement on Tadawul.

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The signing took place during the CPHI Worldwide Exhibition in Milan, Italy, where Aja Pharma participated under the Saudi Export Development Authority.

The partnership seeks to combine the strengths of both companies to drive innovation and enter new markets, the statement added.

Aja Pharma and Remedica will collaborate to develop medicines and transfer technology, focusing on cardiovascular, diabetes, infections, and oncology treatments in tablet and injection forms.