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The National Biotechnology Strategy is now live: Crown Prince Mohammed bin Salman launched the National Biotechnology Strategy under a bid to position the Kingdom as a regional and global biotech player, SPA reported on Thursday. The strategy is set to contribute SAR 130 bn to non-oil GDP by 2040.
What we know: The strategy will focus on four pillars: Vaccine, bio-manufacturing and localization, genomics and plant optimization. The strategy outlines a plan to set up an advanced local bio-manufacturing platform to enhance self-sufficiency in producing biologics and biosimilars and build up a national genomic database and analytics platform to improve preventive healthcare.
Of localization: Sudair Pharma and Sanofi have established a partnership in October 2023 to establish a factory in the Kingdom to produce and package Insulin. The seven-year agreement will see the global pharma player transfer the required know-how to Sudair pharma in order to localize the industry. Currently local production covers 20% of the domestic market needs of insulin, Argaam reports.
IN OTHER HEALTHCARE NEWS-
Sulaiman Al Habib became the third richest non-royal in the Middle East with his net worth closing in on USD 12 bn last Thursday, Bloomberg reports. Al Habib owns Sulaiman Al Habib Medical Group, which saw its shares on the Tadawul soar 30% at Thursday’s close, according to Bloomberg’s b’naires index.
