$150m pharmaceutical plant launched in Salalah
Philex Pharmaceuticals celebrated the launch of its pharmaceutical factory in the Salalah Free Zone yesterday under the auspices of the Minister of Health, Dr Hilal bin Ali al Sabti.
“Today’s factory opening will help in bridging the gap between the local supplies of medicine and the importation of medicine. In Oman, we are currently importing 90 per cent of our medicine, we hope with this factory opening to manufacture at least 20-25 per cent of Oman’s and the GCC’S (medicinal) needs,” shared Phillex Pharmaceuticals Chief Executive Officer, Waseem Hamad.
The 30,000-square-metre facility has a current production capacity of one billion drug pills and one billion drug capsules for 50 medicinal items per year.
“We are covering most of the therapeutic areas including cardiovascular, oncology as well as diabetes and metabolic disorders,” shared Hamad.
The pharmaceutical plant is the first phase of the $150 million project.
Dr Ali bin Masoud al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ), said, “Today, we are observing the opening of the RO 23-million-value first phase of the factory, an equivalent of $60 million.”
“Opening this factory marks an added value to the pharmaceutical and medical industries in general in the Sultanate of Oman, and particularly in the free and industrial zones in Dhofar Governorate, which stands as an attractive investment environment for such industries,” he added.
“It is expected that the factory will soon complete the project’s second and third phases, bringing the investment value to RO 58 million ($150 million),” he further stated.
Later stages of the project will include the establishment of a research and development centre and the production of vaccines and biologics.
The factory is one of the three pharmaceutical plants in Dhofar Governorate. According to Al Sunaidy, the total investments in the pharmaceutical and medical industries in the Salalah Free Zone and Raysut Industrial City have exceeded $200 million.
“Salalah Free Zone is currently home to two more projects, with a value of RO 13.5 million ($35 million) one for producing medical tools and another one under construction for producing medical supplies.
“In addition, there are 4 other factories in Raysut Industrial City producing injectable solutions, pharmaceuticals, medical gloves and masks, and other medical supplies, with investment value of RO 40 million ($104 million),” he shared.