Banaja Holdings, a leading firm in the healthcare and pharmaceutical sectors, headquartered in Jeddah, will jointly manage the DEEF facility, which started producing healthcare and medicinal products in June 2007.
Banaja Holdings’ plan for the DEEF facility at Al Qassim, Saudi Arabia is to expand and diversify from its current product portfolio and contribute to its development to meet market demands.
No financial terms were revealed.
Banaja Holdings’ president, Yousef Banaja, said: ‘This is another important milestone in the growth of our business. In the medium term we expect the DEEF plant to be employing a little over 200 people providing a valuable boost to the economy of Qassim Region and Saudi Arabia.’
Yosuf Oraini, chief executive of the DEEF plant, added: ‘This is an exciting moment in the rapidly maturing pharmaceutical industry in Saudi Arabia. Two companies committed to the highest quality products and services have combined resources to create the potential for one of the Middle East region’s most advanced facilities.
‘Our focus is going to be on manufacturing only market leading products and we expect to be working with partners in the distribution and retail sectors with a similar focus on the top end of the market.’
The 6,000m2 DEEF facility currently manufactures six categories of products: syrups; antiseptics; creams and ointments; tablets; capsules; and sachets. All products are manufactured to international standards and cGMP and Safety and Environmental Protection guidelines are applied.
