The first plant of its kind in the Middle East region for generic oncology drugs

 “Gulf Investment Corporation” participates in the capital increase of “Sudair Pharmaceuticals Company”

Dubai, UAE, March 29, 2017:  Gulf Investment Corporation which is based in Kuwait announced that it has successfully completed acquisition of a significant minority stake in “Sudair Pharmaceuticals Company” - the owner and the developer of Sudair Specialized Pharmaceuticals Complex. The plan of the company is to set-up a specialized pharmaceuticals complex in a phased manner focusing on high-end generic drugs for cancer treatment in Phase 1 of the complex. The plant is the first of its kind in the Middle East which will serve the region with the latest pharmaceutical technologies.

Mr. Mohammad Abdulaziz Al-Fares, Head of Diversified Projects Division – Gulf Investment Corporation, said: “In line with the strategy of Gulf Investment Corporation to invest in the Healthcare and pharmaceutical sector, the corporation has entered as a major investor with a stake of 35% of the share capital of Sudair Pharmaceuticals Company, which will enhance the role of the corporation in the development of the specialized pharmaceutical industries sector in the region. In addition, this type of vital investments will effectively contribute to the support of drug security by providing these products of a sensitive nature to a critical segment of patients at competitive prices in accordance with the highest international standards”.

Dr. Yasser Al-Obaida, Board Member and CEO of Sudair Pharmaceuticals Company commented: “This investment is part of the company's plan to build and attract partnerships of a strategic nature that will open new horizons for further nationalization. In addition, the company will qualify and train a number of national cadres in these specialized pharmaceutical industries in line with the Saudi Arabia’s 2030 vision”.