SAIDAL is striving to establish itself as a significant player in the African pharmaceutical market, as stated by its management. The Group's export strategy is aligned with government initiatives to diversify the economy and reduce dependence on oil exports.
CEO Ouassim Kouidri, speaking in Algiers, announced that SAIDAL aims to achieve 10% of its sales from exports in the near future, with a focus on the African market. He revealed this during the signing of a framework agreement with "Compagnie Algérienne d'assurance et de garantie des exportations (Cagex)" to bolster SAIDAL's international market development strategy.
Kouidri emphasized that the pharmaceutical group has adopted a new policy and strategy to promote the export of medicines and raw materials to foreign markets.
Currently, SAIDAL is exporting products to Libya and is in the process of registering medicines in over 10 African countries, including Senegal, Guinea, Burkina Faso, Côte d'Ivoire, Niger, and South Africa. The group actively engages in tenders from African countries with the goal of reaching 10% of sales through exports in the short term.
SAIDAL's export focus is aimed at meeting the increasing demand for medicines in the African market, while also eyeing expansion into new international markets in Europe, Asia, and America.
Stressing the objective of becoming a major player in the African pharmaceutical market, Kouidri highlighted that the export policy aims to support the state's economic diversification efforts and reduce reliance on oil exports.
Regarding production, the Group's average annual output stands at 220 million sales units, with a 14.11% increase in production by 2023 compared to fiscal 2022.
In addition to the existing eight production units, SAIDAL is constructing nine specialized plants to international standards to produce raw materials and boost integration rate in various medical fields.
The Group plans to expand its product range by introducing over 120 new products, aiming to enhance vaccine production currently reliant on imports.
A framework agreement was recently signed between Cagex and SAIDAL to support the group's international market positioning for pharmaceutical products, particularly in African countries.
The agreement, signed by Cagex CEO Zouhir Laiche and SAIDAL Group CEO Ouacim Kouidri, aims to provide insurance coverage for SAIDAL's activities, especially in pharmaceutical product marketing, to enhance strategic collaboration and cooperation for exports and domestic sales.
Comments