Pharmaceutical and healthcare company Banaja Holdings has concluded its acquisition of a majority holding in Deef Pharmaceutical Industries Com-pany Limited.

Jeddah-based Banaja Holdings will jointly manage the Deef facility which started production of a range of healthcare and medicinal products in June 2007. 

In a statement, Banaja Holdings said its plan for the Deef facility was to expand and diversify from its current product portfolio.

Banaja Holdings president, Yousef A Banaja, said: “This is another important milestone in the growth of our business. Our partnership with the previous owners of the Deef facility demonstrates that Banaja’s firm commitment to grow our business whilst adhering to the highest international standards in the healthcare and pharmaceutical sector remains firmly on track.  In the medium term we expect the Deef plant to be employing a little over 200 people and provide a valuable boost to the economy of the Qassim region and Saudi Arabia.”

Deef chief executive Dr Yosuf Oraini commented: “This is an exciting moment in the rapidly maturing pharmaceutical industry in Saudi Arabia.  Two companies committed to the highest quality products and services have combined resources to create the potential for one of the Middle East region’s most advanced facilities.  Our focus is going to be on manufacturing only market-leading products and we expect to be working with partners in the distribution and retail sectors with a similar focus on the top end of the market.”

The Deef facility currently manufactures six categories of products: syrups; antiseptics; creams and ointments; tablets; capsules; sachets.