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Sanofi [Euronext: SAN; NYSE: SNY] – a global healthcare leader, today opened its production facility in King Abdullah Economic City (KAEC) Industrial Valley, making it the first multinational pharmaceutical group to produce locally in the Kingdom of Saudi Arabia.

Sanofi has had a presence in Saudi Arabia for half a century and has offices in Jeddah, Riyadh and Dammam, which has seen double digit growth over the past five years. The opening of a manufacturing facility was a natural next step and King Abdullah Economic City (KAEC) was an equally natural location.

Antoine Ortoli, Sanofi Senior Vice President, Intercontinental Region, described the move as a milestone in Sanofi’s presence in the Middle East and a prime opportunity to contribute to the local community and economy. “This facility works on many levels for many stakeholders,” he said. “For Sanofi, it provides a chance for us to consolidate our presence in the region and grow our business in what is becoming an increasingly important Saudi market. For Saudi Arabia and its citizens the opening of this facility will mean job creation, research and development opportunities and training in all aspects of the pharmaceutical industry. This production plant has the capacity to produce 19 million packs of locally-made high quality medical treatments which will benefit the needs of the local community,” he added.

A sentiment echoed by Phillip Luscan, Sanofi’s Senior Vice President for Industrial Affairs. “We are sharing Sanofi’s world renowned technology of medication production with the Kingdom of Saudi Arabia and today we are delighted to open this facility along with the Economic Cities Authority and King Abdullah Economic City as our strategic partners,” he said. ”Producing locally is the best way to understand and meet the local needs of patients, helping Sanofi to enable a better understanding of the local markets.”

Speaking about Sanofi decision to invest in Saudi Arabia, Muhanud Hilal, Secretary General at the Economic Cities Authority, declared: “The variety of domestic and export-oriented investment opportunities in Saudi Arabia, as well as the Kingdom’s attractive investment environment,  has attracted steadily increasing foreign direct investment – as is the case with Sanofi’s decision to establish an industrial plant at KAEC.  The new industrial facility we are inaugurating today enjoys an independent business status that will evidently lead to facilitating Sanofi’s operations in Saudi Arabia.”

Fahd Al-Rasheed, Group CEO and MD of King Abdullah Economic City, said: “I have the greatest pleasure in congratulating Sanofi on the inauguration of their new production facility. KAEC’s Industrial Valley is leading the way in addressing the Kingdom’s future pharmaceutical needs. To date, more than half a billion Saudi Riyals is being invested in constructing manufacturing facilities by world renowned companies such as Sanofi and we are particularly glad that this leading company chose KAEC for its first manufacturing facility in the GCC since it will contribute to the development of the fast-growing pharmaceutical industry in the Kingdom of Saudi Arabia.” 

Mr. Rayan Qutub, CEO Industrial Valley, said: “It brings pride to have Sanofi State of the art manufacturing facility built here, a reflection of their commitment to Saudi and their trust in the Industrial Valley.  Sanofi the biggest Pharmaceutical Company in Europe and one of the biggest in the world is a key anchor tenant in achieving our vision as the new Pharmaceutical hub in the region. We are committed to provide all the required support to drive the accelerated growth of Sanofi in the region”