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6 investment agreements covering research, manufacturing and logistics were announced at the 3-day event in Riyadh
Six deals exceeding 3 billion Saudi riyals ($798 million) aimed at advancing research, local manufacturing, and logistics capabilities in the Kingdom’s pharmaceutical sector were announced at the inaugural CPHI Middle East event in Riyadh on Tuesday.
A SAR1 billion ($266 million) collaboration agreement was signed between the Ministry of Health (MoH), the Ministry of Investment (MISA), the Ministry of Industry and Mineral Resources (MIMR), and Vertex Pharmaceuticals on localising production and advancing treatments for sickle cell disease and thalassemia.
Another SAR1 billion ($266 million) agreement was signed between Tamer Group, a leading healthcare logistics operator, and Saja Pharmaceuticals to develop a solar-powered advanced logistics park in Riyadh alongside a manufacturing facility in Jeddah.
UAE-based Julphar pledged SAR300 million ($80 million) to establish a state-of-the-art biopharma facility for advanced biologics.
Tabuk Pharmaceuticals and Thera announced a SAR100 million ($27 million) partnership to expand R&D efforts into autoimmune diseases.
SVAX and China’s Henlius unveiled a SAR426 million ($113 million) initiative to form Fosun Henlius Middle East, targeting advancements in biologics.
Zeta Gulf committed SAR200 million ($53 million) to develop a pharmaceutical manufacturing facility in Saudi Arabia.
Speaking at the opening ceremony, Abdulaziz Hamad AlRamaih, Deputy Minister for Planning and Development at the Ministry of Health, emphasised Saudi Arabia’s commitment to creating a robust pharmaceutical ecosystem.
He said: “The Kingdom is undertaking the largest healthcare transformation in the world. A thriving pharma sector is a core pillar of that transformation, contributing to health security, economic strength, and global standing.”
AlRamaih noted that Saudi Arabia is the fastest-growing pharmaceutical market in the G20, with a projected compound annual growth rate of 9.3 per cent. By 2027, the regional pharma market is expected to reach $32 billion, with Saudi Arabia accounting for nearly half of this value
“Saudi Arabia is the gateway to more than 400 million people in the Middle East and North Africa, giving companies the perfect opportunity to scale operations for maximum impact,” he said.
The Deputy Minister highlighted that the Kingdom’s pharmaceutical sector is currently home to more than 200 factories, totalling an investment of more than $2.6 billion.
He also announced Saudi Arabia is developing 10 new national centres for clinical trials, including virtual clinical trials, positioning the country as a leader in drug development.
Nizar Al Hariri, senior advisor to the Minister of Industry and Mineral Resources talked about the Kingdom’s strategy to invest SAR11 billion ($3 billion) in next-generation health with the goal of creating 13,000 job opportunities. |
