If the number of strategic deals and industry announcements coming out of the recent CPHI Middle East in Riyadh are anything to go by, Saudi Arabia’s ambition to become a regional and global innovation hub is becoming a reality. Read on for some highlights from the first regional edition of the event.
Building a Strong Pharma Ecosystem
After launching a national biotech strategy earlier this year, Saudi Arabia is pushing to become an international hub for innovation. Last week’s CPHI Middle East offered a strong platform for advancing the Kingdom’s ambitions and positioning it as a burgeoning regional and global pharma hub. Bringing together thousands of industry leaders and professionals from across the globe for the inaugural edition at the Riyadh Front Exhibition and Conference Centre, the event showcased Saudi Arabia’s commitment to biopharmaceutical development and innovation.
In his opening address, His Excellency Abdulaziz Hamad Al Ramaih, Vice Minister of the Ministry of Health, stressed the important healthcare transformation underway as part of the Kingdom’s Vision 2030, and the role of the biopharma industry. “The Kingdom is undertaking the largest healthcare transformation in the world. A thriving pharma sector is a core pillar of that transformation and plays a central role in health and health security, and advances our economic strength and global standing.”
The Vice Minister outlined the country’s efforts to establish a robust pharmaceutical ecosystem by attracting both regional and global investments. He asserted that Saudi Arabia’s pharma sector represents a “compelling opportunity” and positions the Kingdom as a dynamic destination for investments and partnerships in the pharma and biotech industries. Currently home to more than 200 factories, totalling an investment of more than USD 2.6 billion, the Kingdom is continuing to strengthen its pharma ecosystem, Al Ramaih affirmed, and is in the process of developing ten new national centres for clinical trials.
While Saudi is developing in its own right, the Vice Minister noted that the Kingdom is also becoming a gateway for the entire Middle East and North Africa (MENA) region.
Key Partnerships and Announcements
The industry deals unveiled at CPHI Middle East confirmed Saudi Arabia’s aspirations with several announcements around plans for major manufacturing, logistics and R&D investments to localize and enlarge the Kingdom’s biopharma capacity.
Namely, the SAR 1 billion deal between Vertex and Saudi Arabia’s Ministries of Health, Investment, and Industry and Mineral Resources is set to enhance the biotechnology sector by localizing gene therapy manufacturing. With potentially 23,000 patients for the American biotech’s CRISPR Therapeutics-partnered sickle cell disease and beta thalassemia therapy, the Kingdom stand to be become an important market for Vertex.
Another key announcement at CPHI Middle East was United Arab Emirates-based drug manufacturer Julphar’s plans to build a USD 80 million state-of-the-art facility for advanced biologics starting next year that is set to create some 300 jobs. Meanwhile, the healthcare logistics operator Tamer Group and Saja Pharmaceuticals inked a USD 266 million deal to develop both a logistics park in Riyadh and a manufacturing facility in Jeddah.
In addition to these deals, Zeta Gulf announced a new drug production plant in Saudi Arabia and Riyadh-headquartered Tabuk Pharmaceuticals signed a USD 27 million agreement with Thera to expand their auto-immune disease R&D efforts. In other news coming out of the conference, biologics and vaccines innovator SVAX and China’s Henlius announced a strategic USD 113 million initiative to create Fosun Henlius Middle East and advance biologics in the region.
