Riyadh – Mubasher: Saudi Chemical Company has signed a memorandum of understanding (MoU) with Eli Lilly Saudi Arabia Limited to locally manufacture Lilly’s insulin portfolio of products that are registered in Saudi Arabia.

The agreement was signed on 30 August through Saudi Chemical’s subsidiary AJA Pharmaceutical Industries (AJA Pharma) to develop investments in the healthcare sector and pharmaceutical industry in Saudi Arabia, according to a bourse filing on Tuesday.

The deal also aims to support local and international companies to expand their local presence in the Kingdom.

Saudi Chemical noted that the financial impact of this deal cannot be determined at the current time.