Gulf Investment Corporation acquires 35% stake in Sudair Paharmaceuticals

DUBAI: Kuwait-based Gulf Investment Corporation announce don Wednesday that it has acquired a minority stake in Saudi Arabia’s Sudair Pharmaceuticals Company.

The firm intends to set up a specialised pharmaceuticals complex in a phased manner focusing on high-end generic drugs for cancer treatment, which it says is the first in the Middle East.

Mohammad Abdul Aziz Al Fares, Head of Diversified Projects Division — Gulf Investment Corporation, said the acquisition of its 35 per cent stake was in line with its strategy to invest in health care and pharmaceuticals, and would enhance its role in developing the specialised pharmaceutical sector in the region.