Saudi Arabia announces investment opportunities in vaccines, vital medicines industry

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Bandar bin Ibrahim Alkhorayef, Saudi Minister of Industry and Mineral Resources and Chairman of the Manufacturing Vaccines and Vital Medicines Committee, announced the launch of several investment opportunities in the vaccines and vital medicines industry, valued at US$3.4 billion.

The move is aimed to achieve the Kingdom’s goals aimed at achieving pharmaceutical and health security, and making Saudi Arabia an important center for this promising industry.

According to the Saudi Press Agency the Minister stressed that the targeted pharmaceutical sectors in general, whose value exceeds US$5 billion, will be implemented in several stages, starting with vaccines and vital medicines, as the first phase will focus on localising vaccines, plasma, and insulin technologies, stressing the importance of transferring their full technologies to contribute mainly to building the Kingdom’s capabilities in these sectors and achieving health and pharmaceutical security while reducing the high cost on the state budget. — Saudi Gazette

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