Olayan Investment Fuels MS Pharma's Ambition to Lead MENA's Biologic Revolution

AMMAN, Jordan and RIYADH, Saudi Arabia – May 18, 2026 – In a landmark move poised to reshape the Middle East and North Africa's pharmaceutical landscape, regional drug manufacturer MS Pharma has secured a significant minority equity investment from the Olayan Financing Company (OFC). The deal, announced today, injects substantial capital into MS Pharma, signaling a new era of accelerated growth focused on the high-value biologics and biosimilars sector, particularly within Saudi Arabia.

The strategic partnership involves MS Pharma issuing new shares to OFC, a diversified multinational enterprise with deep roots in the Kingdom. This infusion of capital is earmarked to bolster MS Pharma's ambitious expansion plans, fortify its manufacturing capabilities, and enhance its supply chain resilience across the entire MENA region.

A Strategic Infusion for Regional Dominance

For MS Pharma, a leading generics and specialty pharmaceutical company headquartered in Jordan, the investment is a powerful catalyst. The company plans to leverage the new funds to deepen its expertise in biologics—complex, protein-based drugs used to treat serious conditions like cancer and autoimmune diseases—and their lower-cost counterparts, biosimilars.

"We are delighted and honored to welcome OFC as partners in the company," said Ghiath Sukhtian, Chairman of MS Pharma. "Their global operational and investing expertise, as well as their deep roots in KSA, will add significant value to MS Pharma and benefit all our stakeholders. This investment reflects the exceptional quality and commitment of our people across the organization."

The partnership is more than a financial transaction; it represents a strategic alignment between a pharmaceutical innovator and a powerful, long-term investor. It provides MS Pharma with not only capital but also access to OFC's extensive network and experience within Saudi Arabia, the region's largest market.

Kalle Kaend, CEO of MS Pharma, described the investment as coming at an "exciting inflection point" for the company. "It will enable us to deepen our expertise in biologics, expand our reach in KSA and the wider MENA region, and accelerate our growth in biosimilars," he stated. "We look forward to leveraging OFC's experience and established network across KSA to achieve our ambitious goals."

Powering Saudi Arabia's Vision 2030

The timing and nature of this investment are intrinsically linked to Saudi Arabia's sweeping economic diversification plan, Vision 2030. A core tenet of this vision is to develop a robust domestic industrial base in critical sectors, with pharmaceuticals and biotechnology identified as top priorities. The Kingdom aims to significantly increase local production, which currently satisfies only about 20-25% of its pharmaceutical demand by value, creating a substantial opportunity for local champions.

This partnership directly supports the recently launched Saudi National Biotechnology Strategy, which aims to position the Kingdom as a global biotech hub by 2040. MS Pharma is already a key player in this national project. In a significant milestone, its biologics manufacturing facility in Riyadh became the first in the Kingdom to receive Good Manufacturing Practice (GMP) certification from the Saudi Food and Drug Authority (SFDA) for biologics. The company is now on track to become the first supplier of locally manufactured biologics to the Saudi market this year.

Nabeel Al-Amudi, CEO of Olayan Financing Company, highlighted this strategic alignment. "MS Pharma has established itself as a leading pharmaceutical platform in the region, with strong capabilities across generics and biologics," he remarked. "We are pleased to partner with the company at this stage of its growth and look forward to supporting its continued expansion in Saudi Arabia and across the MENA region, in alignment with our long-term investment philosophy."

A Calculated Bet on a High-Growth Market

From the perspective of Olayan Financing Company, the investment in MS Pharma is a calculated play in a sector with immense growth potential. OFC, known for its long-term, fundamentals-driven investment approach, is betting on the confluence of rising healthcare demands and strategic government support in the MENA region.

The MENA pharmaceutical market is on a steep upward trajectory. The Saudi market alone, valued at over USD 12 billion in 2025, is projected to grow at a steady clip. Within this market, the biologics and biosimilars segment is considered the most lucrative, promising the fastest growth as populations age and chronic diseases become more prevalent.

By backing MS Pharma, OFC is investing in a company that has already laid significant groundwork. MS Pharma operates five manufacturing facilities across Jordan, Algeria, and Saudi Arabia, employing over 2,000 people. Its new biologics plant in Riyadh, a USD 50 million investment, is a state-of-the-art facility designed for end-to-end production of complex therapies, positioning the company as a regional leader in this advanced field.

This move by OFC, a conglomerate with a diverse portfolio, signals strong investor confidence in the region's ability to move up the value chain from drug consumption to high-tech pharmaceutical production. It underscores a broader trend of strategic capital flowing into sectors that support economic diversification and self-sufficiency.

Enhancing Healthcare Access Across the Region

Beyond the corporate strategies and national ambitions, the partnership holds the promise of tangible benefits for patients across the MENA region. The expansion of biosimilar production is critical for making advanced, life-changing therapies more affordable and accessible. By increasing the local supply of these complex medicines, MS Pharma can help reduce healthcare system costs and lessen the region's reliance on expensive imports.

With this new financial strength, MS Pharma also aims to deepen its collaboration with global development and licensing partners, potentially turning its regional manufacturing hubs into platforms for export into global markets. This outward-looking strategy, combined with a firm commitment to regulatory excellence and quality, positions the newly fortified MS Pharma to not only serve its home region but also to compete on a wider stage.

This partnership is therefore more than a business deal; it is a building block for a more resilient and self-sufficient healthcare ecosystem in the Middle East, driven by local innovation, strategic investment, and a shared vision for the future.