Sanofi (France) (SAN.PA) to Establish New Faculty and Jobs in the Kingdom
12/18/2012 7:01:55 AM
Sanofi, a global diversified healthcare leader lays its foundation stone in King Abdullah Economic City. Sanofi will be first global pharmaceutical company to establish its industrial facility with a 100 percent foreign direct investment in the Kingdom, as it was given a unique opportunity to develop its independent presence in the Kingdom in the year 2011, by establishing itself as an independent business entity facilitating its operations in Saudi. The foundation stone was laid in a memorial ceremony with the presence of His Excellency Bertrand Besancenot the French Ambassador to Saudi Arabia, Top executives from Sanofi, Fahd Al-Rasheed, Managing Director and CEO of KAEC addition to representatives of the Economic Cities Authorities. This facility , which will see the creation of jobs, new technology and science, is being hailed as a major milestone towards supporting patient's needs in the Kingdom while giving Sanofi a strategic advantage to strengthen its existence in this important market. The plant, which is to be built on a 35,000 square meter land, will initially produce oral anti-diabetic and cardiovascular products. On this occasion, Mr. Philippe Luscan, Sanofi's Senior Vice President for Industrial Affairs declared: "We are delighted to be together today with King Abdullah Economic city our partner, in order to lay the cornerstone for the beginning of the construction works for Sanofi pharmaceutical factory in KAEC industrial valley zone. We are further proud that this pioneer project is the first of its kind in the Kingdom and the Gulf Area that offers world-class treatment solutions. In fact, the encouraging investment environment and the solid economic situation in Saudi Arabia have had a conclusive effect on our decision to go ahead with this project."