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Saudi Arabia’s Avalon Pharma partners with AlUla Peregrina Trading

Saudi Arabia’s Avalon Pharma partners with AlUla Peregrina Trading

The patented formulas that will emerge from the collaboration will undergo a few months of formulation, tests and assessment process

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Avalon Pharmaceuticals partners with AlUla Peregrina

Saudi Arabia’s Avalon Pharma has partnered with AlUla Peregrina Trading to create homegrown premium cosmetic and dermatologic products.

The solutions will be grounded in science and the potency of natural patented AlUla Peregrina active ingredients.

Inspired by the powers of the arid and sizzling Desert of Arabia, the luxury skin and hair care journey will feature exclusive products made in Saudi designed to provide solutions grounded in science and the potency of natural ingredients.

The partnership will feature premium formulations that offer both instant results and long-term skin and hair care benefits, with special emphasis on hydration, anti-ageing and nourishment.

“Our partnership with AlUla Peregrina Trading Company is an exciting development for Avalon Pharma’s cosmetic and dermatologic product line. This exclusive offering of products made in Saudi will provide the marketplace with a first-ever skin and haircare product line inspired by the kingdom’s majestic desert,” said Mohamed Maher Alghannam, managing director & CEO at Avalon Pharma.

The product line of multiple skin and haircare formulas will utilise Virgin AlUla Peregrina Oil, and Hydrolysed AlUla Peregrina Extract, Lipophilic AlUla Peregrina Extract and Hydrolysed AlUla Peregrina Paste Extract.

The patented formulas that will emerge from the collaboration between Avalon Pharma and AlUla Peregrina Trading will undergo a few months of formulation, tests and assessment process, in the leadup to the product line’s release.

Avalon Pharma’s growth strategy

The collaboration between Avalon Pharma and AlUla comes ahead of the Saudi Pharmaceuticals firm’s planned initial public offering on the Saudi Exchange.

Avalon Pharma received approval from the Capital Market Authority to offer six million shares, representing 30 per cent of the company’s issued share capital.

The pharmaceutical firm said the final offer price will be determined following a January 14-18 book-building period.

Founded in 1998, Avalon Pharma is one of the biggest pharmaceutical manufacturers in Saudi Arabia with more than 70 brands, and 250 stockkeeping units and exports its products to over 10 countries across the Middle East and North Africa.

Meanwhile, the company unveiled plans to continue its advancement with a multi-pronged international expansion plan in November.

With a target to boost total exports from 10 per cent to 30 per cent by 2030, the home-grown pharmaceutical firm said its ambitious expansion plan will leverage its 25-year history in Saudi Arabia by aiming at new international markets.

Read: Saudi Arabia’s Avalon Pharma plans to list 30% on Tadawul

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