GSK’s local manufacturing site (GSAL) becomes 100% GSK owned
UK-based pharmaceutical company GSK has announced that it has increased its stake in company’s manufacturing site Glaxo Saudi Arabia Ltd to 100%.
GSK is a global biopharma company with a purpose to unite science, technology, and talent to get ahead of disease together. For over 65 years, GSK has been an important contributor to public health in the Kingdom of Saudi Arabia.
GSK in Saudi Arabia operates through its local entity GSAL (Glaxo Saudi Arabia Limited), the manufacturing facility which was established in 1992 in Warehouse city in South of Jeddah and started its first commercial batch in 1997. The site runs several steps in manufacturing topical & liquid products and tablets. The site helps meet the growing demand of medicines and vaccines in Saudi Arabia by producing more than 20 million units a year for the Saudi market.
On this occasion, Farrukh Rehan, Vice President & General Manager of Glaxo-Saudi Arabia commented: “We are proud to be the first multinational pharmaceutical company to establish its own factory in the Kingdom in 1992. And today we are pleased to have acquired the remaining minority stake to become 100% owners of this facility. “
Tarek Fida, Site Director commented: “GSAL is an important site which has been delivering valuable medicines & vaccines to Saudi patients for more than 25 years. This investment will ensure that we continue to develop capabilities and skills to continue to make difference to patients.”
This step is supported by the Saudi Ministry of Investment and with this step GSK will continue to build on its culture of being ambitious for patients, accountable for impact and doing the right thing.
