MODON inks 3 contracts to localize generic drugs

Logo of MODON 

Saudi Authority for Industrial Cities and Technology Zones (MODON) signed three contracts for allocating industrial land to establish projects for the production and localization of generic drugs with a total investment of SAR 90 million in Tabuk Industrial City and Riyadh Industrial Cities 2 and 3. 

The contracts included the allocation of industrial land of an area of 11,000 square meters (sqm) in Tabuk Industrial City for the benefit of Ram Pharmaceutical Industries Co. (Ram Pharma) to produce generic medicine with investments of SAR 25 million, according to the authority's official spokesperson Kosai Al-Abdulkarim.

In addition, two contracts were signed with MS Pharma Co. to allocate an industrial land on an area of 5,000 sqm in Riyadh Industrial City 2, and 3,000 sqm in Riyadh Industrial City 3, to set up two projects to produce generic drugs for chronic diseases with investments of SAR 40 million and SAR 25 million, respectively.

Generic medicines are similar to their well-known brand counterparts, authorized and registered by the Saudi Food and Drug Authority (SFDA), and they act as famous drugs in the event of lack of the latter for any reason. Generic drugs also have the same standards of quality and safety, and the same mechanism of action, use, dose, and effect.

The new projects contribute to achieving medical security requirements, in line with Vision 2030, and initiatives assigned to MODON in the National Industrial Development and Logistics Program (NIDLP), Abdulkarim emphasized as reported by the Saudi Press Agency (SPA).

He pointed out that the demand for industrial land increased by 21% in 2020 despite the pandemic, which is a product provided by MODON as lands with developed infrastructure and services, such as electricity, water and others, in different areas across regions of the Kingdom.