Algeria’s pharmaceutical sector, led by the visionary CEO of Groupe Saidal, Wacim Quidderi, is set to cut drug import expenses by $1.1 billion by 2026. Discover the economic shift and new production units inaugurated in M’Sila, contributing to self-sufficiency. Read more at dzwatch.net.
In a groundbreaking move towards economic self-sufficiency, Groupe Saidal is initiating the production of key pharmaceutical raw materials, anticipating a significant reduction in the import bill. CEO Wacim Quidderi confirmed the implementation of a new economic model, with the first phase focusing on antibiotic components in Médéa and insulin raw materials in Batna.
Quidderi stated, “Saidal is transitioning to a new economic model, manufacturing essential raw materials for drug production. This strategic shift is projected to slash the import bill by $1.1 billion by 2026.”
Beginning in Médéa, the company will establish a unit for antibiotic raw material production, restarting production after a hiatus of over 16 years. Simultaneously, Batna will host the production of insulin raw materials. By the end of 2024, Saidal aims to venture into manufacturing raw materials for cancer drugs, including biopharmaceutical alternatives and traditional tumor treatments.
Studies conducted by Saidal indicate a reduction in the current $2.9 billion import bill to $1.81 billion within the next three years. The newly inaugurated facilities in M’Sila mark a significant milestone, addressing gaps in veterinary medicine and ophthalmic drugs.
The M’Sila plants, with a combined production capacity of 11 million units of eye drops and creams, along with 5 million units of veterinary solutions and vaccines, are expected to cut import expenses by $250 million.
Saidal’s commitment to national health security is evident in the veterinary drug production project. Despite an annual import cost of $110-120 million, 80% of the materials produced by the M’Sila plant will be imported.
In addition to the M’Sila facilities, costing a total of DZD 1.9 billion, Saidal plans to introduce new pharmaceutical products by 2024. Quidderi concluded, “Saidal is currently developing 123 new pharmaceutical products, gradually releasing them into the national market. Starting January, a new set of drugs will be introduced each month until the end of 2024, bringing the total Saidal product range to over 300.”
