Astra Industrial aims to provide larger quantities of COVID-19 vaccines across Kingdom: CEO

Mohammad Al Hagbani, CEO of Astra Industrial

Astra Industrial Group’s focus is on supporting Saudi Arabia by providing a larger quantity of the COVID-19 vaccine at the earliest, after signing the deal with Moderna, to help it achieve the planned vaccination rates as soon as possible, Chief Executive Officer (CEO) Mohammad Al Hagbani told Argaam.

The company currently focuses on importing the Kingdom’s needs directly, in line with its ambitious plan to reach high COVID-19 immunization rates as soon as possible.

The local manufacturing processes need more time for study and implementation, Al Hagbani explained, noting that it was, and undoubtedly is still, one of the strategic pillars of Tabuk Pharmaceutical Manufacturing Co.’s plan to expand the locally-produced vaccines and medications. “Moreover, we started talks with several government entities in this regard, and we’re working on completing the required studies,” he added.

Backed by its over 25-year track record, Tabuk Pharmaceutical was picked by Moderna for this exclusive partnership. The company’s geographical reach extends to more than 17 countries across the MENA region, as it exports products from its plants in the Kingdom or other countries.

These factors helped Tabuk Pharmaceutical become the focus of many global companies that aspire to cooperate with it as a strategic partner in the Kingdom or across the region. Accordingly, Tabuk Pharmaceutical won several products from major global companies, Al Hagbani noted.

Moderna was seeking a partner with a reliable government partner, in terms of supplying medicines. Tabuk Pharmaceutical built a solid track record with the government over the past years, being one of the leading pharmaceuticals suppliers in the Kingdom.

Tabuk Pharmaceutical has recently invested in establishing a new plant in Dammam, which ranks among the most advanced facilities in the Kingdom, being the first local plant to produce lyophilized vials. It also provides new medications for medical imaging and general anesthetics.

Replying to a question about offering the shares of Tabuk Pharmaceutical to the public, Al Hagbani said the pharmaceuticals producer is a subsidiary of Astra Industrial, which is already listed on the Saudi Exchange (Tadawul).

Earlier this month, Tabuk Pharmaceutical signed an agreement with Nasdaq-listed Moderna, to commercialize the Moderna COVID-19 vaccine and future variant-specific booster candidates in Saudi Arabia, Argaam reported.

Tabuk Pharmaceutical Manufacturing was established in 1994, to produce, market and distribute various pharmaceutical products.