By Elias Al Helou
Share

New MOU signed in Saudi to expand pharmaceutical capabilities

MoU to promote healthcare sector, raise Saudization 
New MOU signed in Saudi to expand pharmaceutical capabilities
A chemist experimenting in a laboratory

Saudi’s Ministry of Investment (MISA) and Swiss pharmaceutical corporation Novartis, have today signed a memorandum of understanding (MoU). The agreement aims to expand Saudi’s pharmaceutical capabilities and encourage local investment in the Kingdom in the areas of cell and gene production, technology transfer, and clinical practice. 

The MoU includes the co-creation of Cell & Gene centers of excellence, implementation of a long-term strategic co-manufacturing plan, and an aim to reach 75 percent Saudization.

Khalid Al Falih, Saudi’s Minister of Investment said that the agreement comes within the framework of partnerships carried out by MISA to promote the healthcare sector and raise the level of localization and work in Saudi. 

This MoU builds upon agreements signed over the past year between the Ministry and global leaders in the pharmaceutical sector, including Jannsen, AstraZeneca, GSK, and Roche, indicating a growing recognition among global pharma brands of the investment opportunities available in the Saudi life sciences sector.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.