Sanofi Official to Asharq Al-Awsat: Manufacturing Insulin Pens in Saudi Arabia

The General Manager of Pharmaceuticals for Saudi Arabia and the Gulf at Sanofi (Asharq Al-Awsat).
The General Manager of Pharmaceuticals for Saudi Arabia and the Gulf at Sanofi (Asharq Al-Awsat).
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Sanofi Official to Asharq Al-Awsat: Manufacturing Insulin Pens in Saudi Arabia

The General Manager of Pharmaceuticals for Saudi Arabia and the Gulf at Sanofi (Asharq Al-Awsat).
The General Manager of Pharmaceuticals for Saudi Arabia and the Gulf at Sanofi (Asharq Al-Awsat).

As part of new agreements announced at the 7th edition of the Global Health Forum, Saudi Arabia signed deals to localize the production of 3 to 4 types of insulin, in collaboration with the Ministries of Investment, Health, and Industry and Mineral Resources, along with NUPCO, which is owned by the Public Investment Fund, Sanofi, and the Local Content and Government Procurement Authority.
Additionally, NUPCO, Novo Nordisk, and Sanofi signed a pharmaceutical manufacturing agreement valued at SAR 4 billion ($1.06 billion).
Dr. Niveen Khoury, General Manager of Pharmaceuticals for Saudi Arabia and the Gulf at Sanofi, told Asharq Al-Awsat that this pivotal agreement with NUPCO was in partnership with Sudair Pharmaceuticals.
She explained that the agreement aims to transfer technology and expertise, localizing insulin production in Saudi Arabia, including the complete manufacturing of insulin pens to the highest quality standards using Saudi expertise. The partnership will focus on localizing the technology for assembling advanced insulin pens, particularly the “SoloStar Delivery Device.” This will make the Sudair Pharmaceuticals plant the first facility in the region to specialize in the production of Sanofi’s latest insulin.
Dr. Khoury noted that diabetes is a major health challenge, underlining the importance to ensure a reliable and continuous supply of high-quality insulin.

 

 



Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
TT

Spain Gives Green Light for Saudi STC to Raise Stake in Telefonica to 9.97%

STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo
STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder - File Photo

The Spanish government has given the green light to Saudi Arabia's largest telecoms operator, STC Group, to raise its stake in Telefonica beyond 5% and reach 9.97%, Economy Minister Carlos Cuerpo said on Thursday.

Cuerpo confirmed an earlier report by El Pais newspaper during a news conference following the cabinet's weekly meeting in which the stake increase was approved, Reuters reported.

"Measures and conditions have been set and accepted voluntarily by the Saudi company to ensure that (the operation) takes place," Cuerpo told reporters.

He said the government's decision followed an "exhaustive analysis based not only on compliance with current legislation but also to guarantee the national interest in defense and ensure the strategic element in telecommunications".

Last year, STC said it aimed to build up an interest of 9.9% in the Spanish telecoms company worth around 2.4 billion euros ($2.53 billion) and become a major shareholder.

The Saudi group said at the time it owned a 4.9% stake in Telefonica and financial instruments giving it another 5% in what it called economic exposure to the company.

The Spanish government had to authorize the deal as Telefonica is considered a defence service provider and therefore a strategic company.

The Saudi company has said it does not intend to gain control of or a majority stake in Telefonica.