Arab Finance: Egyptian pharmaceutical firm EVA Pharma is planning to establish an industrial research park for pharmaceuticals in Saudi Arabia with investments of up to $110 million, the company’s CEO Riad Armanious told Asharq Business on June 12th.
To be set up via EVA Pharma’s subsidiary in the kingdom, the park will comprise five pharmaceutical factories, with the aim of meeting the Saudi market’s demand for life-saving medicines.
The project will be executed through several Saudi and Arab partnerships, including Saudi universities.
Armanious expects production from the park in Sudayr region in the kingdom to commence in 2025.