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Avalon Signs SAR 60m Deal
On November 8, 2026, Middle East Pharmaceutical Industries Company (“Avalon Pharma”) signed a SAR 60 million credit facilities agreement with the Saudi Industrial Development Fund to finance its working capital needs. The facilities have a two-year term commencing on the date the funds are received. The collateral includes fixed assets and the land for the “Avalon 02” factory and central warehouse, as well as a promissory note for the full amount of the facilities. The agreement does not involve any related parties.
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