Saudi Arabian pharmaceutical company Jamjoom Pharma has inked US $ 53million worth investment agreement with Uzbekistan, reports Arab News.
Above all else, the step is aimed at expanding into the Central Asian region.
“Already, we are in 30-plus countries. Now, we are trying to focus on this area (Central Asia). We are covering Uzbekistan, Afghanistan, and Turkmenistan. So, this will be the gate to cover the area,” said Mahmoud Jamjoom, vice chairman of Jamjoom Pharma, on the sidelines of the fourth meeting of the Saudi-Uzbeki Business Council in Jeddah.
According to him, the operations in Uzbekistan will start as soon as the firm receives approvals from regulators.
He also told that in the future the company will seek to set local manufacturing.
Jamjoom Pharma launched commercial operations in the year 2000 in Saudi Arabia and now the company is ranked among the Top 5 pharma Saudi companies. The company has established itself as one of the fastest growing companies in the region consisting of Middle East, Africa and CIS countries. ///nCa, 19 August 2022