The pharmaceutical unit of Saudi Chemical Co. Holding (SCCH)- AJA Pharma signed an agreement with GlaxoSmithKline Consumer Healthcare Saudi Ltd for technology transfer and commercial-scale production in Saudi Arabia.
The increase in production capacity is likely to generate SAR 100 million ($27 million) and the agreement was concluded for five years.
Saudi Chemical Company Holding is an Investment Company and owns a group of five companies including Suez International Nitrate Company in Egypt, Saudi International Trading Company (Sitco Pharma), AJA Pharma, Chemical Commercial Investment Company Ltd, and others. Of these, companies the agreement was signed by AJA Pharma.
Saudi Chemical Co. announced its financial results for 2020 and identified sales of SAR 3,306 million, representing a 12.1% year-on-year increase.