Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) renewed its Sharia-compliant banking facility agreement with Alinma Bank on 19 August at a value of SAR 50 million.
The credit facility is scheduled for a duration of one year. Under the terms of the agreement, the company has provided a promissory note for the full amount of SAR 50 million as a guarantee for the financing.
Management stated that the primary objective of the renewed facility is to fund the company’s working capital requirements and capital expenditures.
The pharmaceutical firm confirmed that there are no related parties involved in this transaction.
In the first half (H1) of 2026, Avalon Pharma logged net profits of SAR 55.70 million, marking a 25.99% increase from SAR 44.21 million in H1-25.
