Saudi Arabia and Brazil Collaborate to Boost Localization of Vaccines and Pharmaceuticals
Riyadh: In a groundbreaking move, Saudi Arabia’s industry minister, Bandar Alkhorayef, is on a mission to ramp up the localization of vaccines and pharmaceuticals by tapping into Brazil’s expertise in the field.
During high-level meetings with key investors in Brazil, Alkhorayef highlighted the significant potential for collaboration, emphasizing the crucial role of the sector in the country’s National Industrial Strategy.
The aim is to enhance pharmaceutical and health security while bolstering the Kingdom’s independence in meeting medical needs and developing specialized industrial capacities.
Led by Alkhorayef, Saudi Arabia’s Vaccines and Biomedicines Industry Committee is working tirelessly to identify top-notch technologies for investment. The ultimate goal is to transfer and localize knowledge, establish local industrial platforms adhering to international standards, and position the Kingdom as a hub for vaccines and essential medicines in the Middle East and the Islamic world.
In a statement on his official account, the minister expressed his admiration for the Butantan Institute, a global leader in biotechnology research. He mentioned discussing collaboration opportunities with the institute’s director to advance localization efforts in the vaccine and pharmaceutical industry.
Alkhorayef highlighted Brazil’s willingness to collaborate across various industrial sectors, particularly in pharmaceuticals and vaccines, during meetings with investors and company leaders.
This strategic partnership aims to leverage the strengths of both nations, develop robust supply chains, facilitate technological exchange, and drive innovation for sustainable development.
With investment opportunities in the sector exceeding SR11 billion ($2.9 billion), Saudi Arabia is actively seeking to attract global interest in healthcare by offering financial incentives and leveraging its capabilities. The primary objective is to localize a significant portion of insulin production.
Through strategic partnerships, technology transfers, and public-private collaborations, the Kingdom is committed to ensuring sustainable growth in the healthcare sector. The focus on increasing local content and embracing cutting-edge medical technologies underscores Saudi Arabia’s ambition to emerge as a key player in regional pharmaceutical manufacturing.