Avalon Pharma plans to invest over SAR 100M in new plants, regional expansion: CEO

Mohammed Al-Ghannam, CEO of Middle East Pharmaceutical Industries Co. (Avalon Pharma)

Mohammed Al-Ghannam, CEO of Middle East Pharmaceutical Industries Co. (Avalon Pharma), announced its plan to invest over SAR 100 million in building new manufacturing plants by 2030.

The company is currently studying advanced plants to focus on high-tech products, the top executive highlighted in an interview with Asharq Bloomberg.

Al-Ghannam also outlined Avalon Pharma’s strategy to step up its existing projects, while entering new development projects, in a bid to double sales in Saudi Arabia by 2030.

For more news and details on the projects

Besides, Avalon Pharma is planning for regional expansion, either through strategic partnerships or direct market entry, in an attempt to position the Saudi-listed company among global manufacturers.

He added that Avalon Pharma has identified target markets for growth or strategic entry, with specific approaches tailored to each market’s dynamics.

The company aims to ramp up exports to reach 30% of total sales by 2030, compared to the current range of 10% to 15%, Al-Ghannam said.