Riyadh, Kingdom of Saudi Arabia – 19 October 2023: As part of its efforts to activate its national role as a leading Saudi company in the pharmaceutical sector, Nahdi Medical Company, Saudi Arabia’s largest pharmacy retail chain and growing healthcare services platform, signed a memorandum of understanding (MoU) with the Al-Teriaq Pharma that aims to support the localization of pharmaceutical production and medical supplies. The MoU signing took place on the sidelines of the “Made in Saudi Arabia 2023” exhibition and was signed by Eng. Raed Jamil Monagel, Chief Governance and Business Support Officer at Nahdi Medical Company, and Mohammad Bin AbdelGhani AlSaigh, Chief Executive Officer of Al-Teriaq Pharma. Through this agreement, Nahdi Medical Company seeks to activate a crucial role and make a positive contribution through its long-standing history and deep experience in supporting the Saudi pharmaceutical industry with the highest levels of excellence and quality performance; this role ultimately contributes to achieving Nahdi’s goal of adding beats to the lives of its Guests across the Saudi community.

From his part, Eng. Raed Jamil Monagel, Chief Governance and Business Support Officer at Nahdi Medical Company said: “The field of pharmaceutical production is a vital field that empowers our national economy and enhances the growth of our society. We are pleased to cooperate with Al-Teriaq Pharma by supporting its scientific outputs from studies and research in this field. We look forward to having valuable exchanges between our two companies in addition to launching initiatives and events resulting from our fruitful cooperation that will contribute to making Saudi products distinct at a local and global level and accelerate economic development.”

Commenting on the signing, Mohammad Bin AbdelGhani AlSaigh, Chief Executive Officer of Al-Teriaq Pharma, said: “Our cooperation with Nahdi Medical Company will contribute to providing the necessary experience and competencies to achieve our main goals of developing and localizing strategic production which includes pharmaceutical production and medical supplies in addition to providing the latest technologies for investment and technical transfers in the pharmaceutical market. We are confident that our cooperation with Nahdi Medical Company will add value to our work through exceptional quality performance thanks to its long-standing experience and its widespread presence throughout the Kingdom.”

The cooperation between the two companies acts as an example of the integration aimed at improving the quality of Saudi products and expanding the scope of business to enhance the image of national production. Additionally, the collaboration contributes to highlighting the positive image of the Kingdom on a global scale. It is worth noting that Nahdi Medical Company is one of the most widespread leading companies in the field of pharmacy chains in the Kingdom of Saudi Arabia. Nahdi serves 97% of the Kingdom’s population thanks to its presence in more than 130 cities and villages across the Kingdom, while Al-Teriaq Pharma is one of Wadi Jeddah Valley subsidiaries, the investment arm of King Abdulaziz University, and was established to contribute to the development and localization of strategic industries, including pharmaceutical industries and medical supplies.

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