JEDDAH – Sanofi, a French multinational pharmaceutical company and diversified healthcare leader, laid the foundation stone for its plant in King Abdullah Economic City. Sanofi will be first global pharmaceutical company to establish its industrial facility with a 100 percent foreign direct investment in the Kingdom. The foundation stone was laid in a ceremony in the presence of Bertrand Besancenot, French Ambassador to Saudi Arabia, top executives from Sanofi, Fahd Al-Rasheed, Managing Director and CEO of KAEC, in addition to representatives of the economic cities authorities. The facility, which will see the creation of jobs, new technology and science, is hailed as a major milestone toward supporting patient's needs in the Kingdom, while giving Sanofi a strategic advantage to strengthen its local presence. The plant, which is to be built on a 35,000 square meter land, will initially produce oral anti-diabetic and cardiovascular products. Philippe Luscan, Sanofi's Senior Vice President for Industrial Affairs, said: “We are proud that this pioneer project is the first of its kind in the Kingdom and the Gulf area that offers world-class treatment solutions. In fact, the encouraging investment environment and the solid economic situation in Saudi Arabia had have a conclusive effect on our decision to go ahead with this project.” Al-Rasheed said “we are especially pleased with their choice of KAEC for their first manufacturing facility since it contributes to the development of a thriving pharmaceutical industry that will bring great benefits to the Kingdom and its citizens.” Antoine Ortoli, Sanofi Senior Vice President Intercontinental Region, added: “Sanofi is proud to consolidate its presence in the promising Saudi market through the exchange of experiences in research and production for the benefit of Saudi Arabia and its citizens. This cooperation will be reflected in locally-made medical treatments of high-quality and at affordable cost. Furthermore, Sanofi is committed to ensure appropriate training for Saudis specialized in the production of international-standard medicines' and treatments' solutions.” “Part of our project here in Saudi (Arabia) is to produce generics. When the drug patent is lost, here starts the new life cycle of the product and the drug becomes a generic,” Ortoli added. — SG
