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“The export policy aims to consolidate the efforts of the State”
Ouassim Kouidri, CEO of the Saïdal group
The Chairman and CEO of the Saidal Group, Ouassim Kouidri, discussed, the day before yesterday Monday in Algiers, the development of the new policy and strategy promoting the export of medicines and raw materials intended for foreign markets. Assuring that the export policy developed by the group aims to consolidate the efforts of the State to diversify its economy and reduce its dependence on oil exports.
“In the short term, the group aims to achieve 10% of its turnover through exports,” he said.
Speaking at the signing ceremony of a framework agreement with the Algerian Export Insurance and Guarantee Company (Cagex) initialed by the CEO of Cagex, Zouhir Laiche and his counterpart from the Saïdal group, Ouacim Kouidri, in the presence of executives from both companies, on supporting Saïdal in its strategy of development and positioning on international markets, Ouassim Kouidri highlighted the ambitions of the Saidal group by targeting the African market as a priority. Noting that the group is currently exporting its products to Libya and has started registering its medicines in more than 10 African countries. Including Senegal, Guinea, Burkina Faso, Ivory Coast, Niger and South Africa.
Saidal, he continued, actively participates in calls for tenders launched by African countries. He said that Saidal’s emphasis on export aims to meet the needs of the African market, which is experiencing a growing demand for medicines.
“The group’s ambition is also to conquer new international markets, particularly in Europe, Asia and America,” he observed, assuring that Saïdal’s objective is to establish itself as a major player in the African pharmaceutical market.
Returning to the group’s capacities, Ouassim Kouidri said that the group’s average annual production is 220 million sales units per year. “In 2023, the production achieved had recorded an increase of 14.11% compared to the 2022 financial year,” he continued, noting that in addition to the eight production units currently in operation, Saïdal has launched the construction of nine new specialized factories designed according to international standards aimed in particular at producing raw materials with the aim of increasing the integration rate (insulin crystals, antibiotics, cardiology, diabetology, oncology, bio-similars, anti-inflammatories, botox).
The CEO of the Saïdal group also added that it is a question of developing the group’s range by adding more than 120 new products to the current nomenclature.
“The Saidal group aims to develop the production of several vaccines currently imported,” he added.
According to the explanations provided during the signing ceremony, this framework agreement aims to strengthen strategic collaboration and reinforce cooperation between the two parties for a better guarantee of exports and domestic sales. “This framework agreement illustrates the common determination to promote balanced and prosperous international and local trade, based on trust, solidarity and cooperation. It will also allow an active contribution to the influence of the Algerian economy with a strengthened and deepened partnership,” it was stressed in a press release.
Rabah M.