By Fatima Al-Kashef

Jamjoom Pharmaceuticals, a Saudi company listed on the main market “Tadawul”, is moving into the field of manufacturing vaccines and biopharmaceuticals by acquiring a 49% stake in Biologics, a company founded by the pharmaceutical investment company “Livera”, which is owned by the Saudi Public Investment Fund, according to a disclosure by Jamjoom on “Tadawul” on Thursday.

The project represents an expansion for Jamjoom into a new field compared to its current business portfolio, which is focused on developing, manufacturing and marketing a range of medicines.

What do we know about the project + what's new?

(According to Jamjoom's disclosures and a previous statement by Al-Ivira)

- In October 2025, Jamjoom and Livera signed a non-binding memorandum of understanding to establish the project.

After about 9 months, the negotiations resulted in a change in the project structure; instead of the two companies establishing a joint venture directly, “Livera” established the company “Biologyx”, with Jamjoom entering as a shareholder in it through subscribing to new shares.

Jamjoom will subscribe to 4,900 new shares in Biologics, with a nominal value of SAR 100 per share. Following the completion of the transaction, the company's ownership will be distributed as follows: 51% to EVERA and 49% to Jamjoom. The total value of the subscription does not represent the total expected investment in the project.

The two companies did not disclose the total expected investment in the project, nor has the required funding size, the cost of the new facility, its production capacity, or the start-up date been announced.

Jamjoom and Livera obtained a certificate of no objection from the Saudi General Authority for Competition, while the completion of the deal is still subject to fulfilling the conditions and approvals stipulated in the subscription agreement.

Quick background on the two companies

(According to their respective websites + the sovereign wealth fund's website + the companies' LinkedIn pages)

Jamjoom Pharma: It began operations in 2000 and is a Saudi company listed on the main market “Tadawul” since June 2023. In addition to its operations in the Kingdom, it owns manufacturing facilities in Saudi Arabia, Egypt and Algeria, and its products are available in more than 36 countries.

Livera: Founded in 2023, it is a biopharmaceutical company wholly owned by the Saudi Public Investment Fund. The company has a biomanufacturing business through its SaudiBio facility in Sudair Industrial City, north of Riyadh.

(Prepared by: Fatima Al-Kashef, Edited by: Yasmin Saleh, Contact: zawya.arabic@lseg.com )

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