One month extension of Al Hammadi’s acquisition of 35% of Sudair Pharmaceuticals

Al Hammadi Company for Development and Investment announced the extension of the agreement for the purchase of 35% of Sudair Pharmaceutical Company, for a period of one month.

Last July, Al Hammadi Company for Development and Investment said it has signed an agreement to purchase the entire stake in Gulf Investment Corporation (GIC), which represents 35% of Sudair Pharmaceutical Company, owner and developer of the Sudair Complex for Specialized pharmaceutical industries.

Al Hammadi Development has appointed Al Dakhil Financial Group as financial advisor for the transaction. And from The most important terms of the memorandum The completion of the due diligence review of the financial condition of the company Legal, administrative and operational.

The Cancer Drugs Factory represents the first phase of the Sudair Pharmaceuticals Factory Complex, the largest pharmaceutical project specializing in the production of cancer treatments (oral and intravenous) in the Kingdom of Saudi Arabia.

The project stands on aarea of 77,000 square meters and includes, in addition to the administrative buildings, research centers and a training academy. in in line with Al Hammadi Company’s future growth plans for Development and Investment and the Kingdom’s Vision 2030 to localize advanced technologies and industries and will also provide the opportunity to benefit from the significant growth expected in the field of specialty pharmaceutical manufacturing and distribution.

Read More About: Business News

Leave a Reply