Health Saudi Arabia to invest $3.4bn in vaccine, biomedical drugs sector By Reuters June 25, 2022, 6:36 AM Creative Commons Saudi Arabia is currently importing all its needs of vaccines and biopharmaceutical drugs Saudi Arabia’s industry and Mineral Resources minister said on Friday the country would invest $3.4 billion in the vaccine and biomedical drugs sector, according to state news agency SPA. The Minister Bandar Alkhorayef, who heads the newly-established vaccines and biopharmaceutical industry committee, said the move is part of the kingdom’s push towards achieving pharmaceutical security and making Saudi Arabia a more prominent hub for the sector. The investments will be implemented in two phases. The first includes techniques for manufacturing basic child vaccines and insulin, while the second aims to localize immunological and cancer drugs industry. Saudi Arabia is currently importing all its needs of vaccines and biopharmaceutical drugs, the minister said. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
