Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) secured a Sharia facility amounting to SAR 70 million from Emirates NBD on 8 July 2024.

The Saudi company obtained the loan for one year to finance its operations, according to a bourse disclosure.

The one-year agreement is secured by a promissory note for the full value of the loan.

Avalon Pharma listed its shares on the Main Market of the Saudi Exchange (Tadawul) on 27 February.