Aiming at realizing the localization of pharmaceutical industry in the Kingdom of Saudi Arabia, Axantia acquired the entire share capital of MCP in 2015.
MCP is pharmaceutical company based in Jeddah, Saudi Arabia. Following MCP’s acquisition, Axantia implemented major changes to the design of the facility whilst applying elevated standards of safety and quality.
Axantia’s acquisition of MCP and its efforts towards localization are strategic moves aimed at bolstering the pharmaceutical industry in the Kingdom of Saudi Arabia.
By taking over MCP, Axantia gains a local pharmaceutical company, providing a platform to build and expand its manufacturing capabilities in the region and would also enhance domestic capabilities for producing quality medicines, promoting self-sufficiency in meeting the healthcare needs of the country and reducing reliance on imports.
As MCP develops and nurtures skilled labor force, this not only creates job opportunities, but also fosters knowledge-driven workforce capable of handling advanced technologies and processes.