Al Ittihad stages dramatic comeback to defeat Al Kholood 4-3 in thriller    55 Saudi companies take part in Baghdad International Fair    10,295 illegal residents deported in a week    Nazaha arrests 158 ministry employees over corruption charges    Health minister: 40% fall in mortality rates caused by chronic diseases since 2017    Arab ministerial meeting in Cairo rejects displacement of Palestinians    Venezuela frees six detained Americans after Trump envoy meets with Maduro    Saudi Arabia's non-oil exports with Gulf countries soar 43% to SR9.4 billion in November    Fitch affirms Saudi Arabia's Credit Rating at 'A+' with a Stable Outlook    Saudi foreign minister and US Secretary of State discuss bilateral relations and regional developments    Small plane crashes into buildings in northeast Philadelphia, sparking fires and injuries    Trump imposes tariffs on Mexico, Canada, and China, escalating trade tensions    Saudi Arabia mandates national attire for male secondary school students    Al Nassr signs Colombian striker Jhon Durán from Aston Villa    Al Hilal returns to winning ways with a dominant 4-0 victory over Al Okhdood    Al Ahli signs Brazilian winger Galeno from Porto on a long-term deal    Saudi composer Nasser Al-Saleh passes away at 63    Saudi drama icon Mohammed Al-Towayan passes away at 79    Singer and actress Marianne Faithfull dies at 78    Saudi Arabia launches inaugural Art Week Riyadh on April 6-13    Bollywood star Saif Ali Khan 'out of danger' after attack at home in Mumbai    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Saudi Arabia announces investment opportunities in vaccines, vital medicines industry worth $3 billion
Published in The Saudi Gazette on 25 - 06 - 2022

Saudi Minister of Industry and Mineral Resources, Chairman of the Manufacturing Vaccines and Vital Medicines Committee Bandar Alkhorayef announced the launch of several investment opportunities in the vaccines and vital medicines industry, valued at $3.4 billion.
The opportunities will achieve the Kingdom's goals aimed at achieving pharmaceutical and health security, and making Saudi Arabia an important center for this promising industry.
The minister stressed that the targeted pharmaceutical sectors in general, whose value exceeds $5 billion, will be implemented in several stages, starting with vaccines and vital medicines, as the first phase will focus on localizing vaccines, plasma, and insulin technologies, Saudi Press Agency (SPA) reported.
He stressed 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.
Currently the state imports 100% of vaccines and vital pharmaceutical products, while the vital medicines sector enjoys the fastest growth rate in the market among all pharmaceutical sectors with an annual rate of 17%.
Alkhorayef said that the Manufacturing Vaccines and Vital Medicines Committee will focus in the first phase on localizing basic children's vaccines and building the necessary self-capacities and manufacturing platforms to combat future pandemics.
This will be followed by insulin production to treat diabetes patients and then support plasma collection centers with a world-class factory to achieve self-sufficiency in plasma derivatives.
The second phase will focus on localizing immunological and cancer treatments technologies, where the size of this vital sector is estimated at more than $2 billion annually, of which insulin represents approximately $340 million.
The minister explained that the Manufacturing Vaccines and Vital Medicines Committee aims to achieve positive results by identifying the best technologies in the field of vaccines and vital medicines, in which the Kingdom must invest to transfer and localize knowledge.
This is in addition to building local industrial platforms with international specifications to enable the Kingdom to occupy its natural place as an industrial power and a logistical platform for vaccines and vital medicines in the Middle East and the Muslim countries.
The committee, which was formed by a Cabinet decision in March 2022, chaired by the minister of industry and mineral resources, is working on organizing and developing vital medicines, setting a strategy for regulating the vaccines and vital medicines industry, related programs, and plans, supervising their implementation, setting rules and standards for building factories for vaccines and vital medicines and taking all necessary procedures concerning the construction of those factories. — SG


Clic here to read the story from its source.