Avalon Pharmaceuticals fosters growth in Saudi Arabia with Avalon 4

PHOTO

Riyadh – Avalon Pharmaceuticals is set to launch its fourth manufacturing plant in Saudi Arabia, Avalon 4, to foster its growth and expansion plans across the Kingdom.

The new plant is expected to be launched by 2026 in the industrial city of Riyadh, according to a press release. It is projected to secure over 100 job opportunities and launch more than 75 new products for the Kingdom, which are being manufactured for the first time.

Avalon 4 will focus on various forms of complex and high-tech medications, such as Oncology and General Injectables.

Meanwhile, Avalon 1, 2, and 3 mainly focus on medications, health and personal care products, as well as medical devices.

Ahmad Al Tabbaa, Chairman of Avalon Pharmaceuticals, said: “This new factory plant will allow Avalon Pharma to enter a new and elite segment of medicines like anticancer and other injectable products. and we look forward to its realization over the next three years.”

The Saudi pharmaceutical market is valued at SAR 38.40 billion and is projected to increase at a compound annual growth rate (CAGR) of 7.3% to reach SAR 67.40 billion by 2030.

Mohamed Maher Al Ghannam, Managing Director and CEO of Avalon Pharma, noted: “As we are positioned at this point of growth and expansion for our company with Avalon 4, we look to both extend our influence, regionally and globally, in addition to continuing our deep investment towards our local customers.”

“To date we have invested over SAR 400 million in our operation in addition to our research and development capabilities. We will continue at the same pace and inject further investments in the near future,” Al Ghannam indicated.