On July 23, 2026, Jamjoom Pharmaceuticals Factory Co. announced the latest developments regarding its previously disclosed non-binding term sheet with Pharmaceutical Investment Company ("Lifera"), a Public Investment Fund company, originally announced on October 27, 2025. Following negotiations, Lifera incorporated a special purpose company ("Biologics Company") to build, own, and operate a facility in the Kingdom for the manufacture and commercialization of vaccines, biologics, and biosimilars. On July 22, 2026, Jamjoom Pharma entered into a binding Share Subscription Agreement, under which it will subscribe for 4,900 new shares in Biologics Company at a nominal value of SAR 100 per share (total nominal subscription value of SAR 490,000), resulting in a 49% ownership stake for Jamjoom Pharma and 51% for Lifera. The transaction remains subject to customary conditions precedent, and both parties have obtained a no-objection certificate for economic concentration from the General Authority for Competition; broader financial implications are expected to crystallize upon completion of the agreed business plan.

Original announcement:

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