The company registered double-digit growth in the UAE and GCC region markets due to continued positive developments in key markets including Saudi Arabia
The firm received regulatory approval for the listing in December
The facility will focus on vaccine and therapeutic products to “strengthen regional supply chains”
The cabinet during a meeting on Monday also approved a National Medicine Policy and a national strategy for cultural and creative industries
The acquisition comes as part of efforts to boost Yas Holding’s healthcare manufacturing and distribution ecosystem
The Cabinet also approved the regulations governing medical and pharmaceutical products in the country
There are 174 companies within this sector in the free zone, employing 1,100 people
Public Investment Fund and ADQ are weighing the purchase of Bausch Health’s Cairo-based drug unit
Philadelphia-based PCI provides a range of integrated pharmaceutical supply chain solutions
The new capital is also expected to help it expand operations in key markets in the region
Creditors will also consider plans to bring in a new strategic investor to Neopharma to keep the business operating
The kingdom banned Julphar’s products in September 2018 for failing to meet regional standards