Dishman says Saudi Pharmaceuticals joins new joint venture

By Elaine Rigoli

Tampa, Fla., July 12 - Dishman Pharmaceuticals & Chemicals Ltd. said Wednesday that Saudi Pharmaceutical Industries & Medical Appliances Corp. has joined with both Arab Company for Drug Industries and Medical Appliances and Takamul Holding Co. in a newly formed joint venture, CAD Middle East Pharmaceutical Industries Ltd.

Saudi Pharmaceutical Industries is a joint-stock company with a fully paid-up capital of SR 600 million.

It was established in 1986 with the main objective of setting up an advanced pharmaceutical industry in the Kingdom of Saudi Arabia for the local production of medicines and medical appliances and to market these products inside the Kingdom and for export, according to a news release.

The new company will initially manufacture 20 active pharmaceutical ingredients in a multi-purpose facility with room to expand the product base.

The project will be seeking soft loans from local government bodies, the release said.

Dishman is a global pharmaceutical company located in Ahmedabad, India.

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