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Saudi Arabia’s PIF eyeing to scale up local pharma industry

Lifera will focus on manufacturing life-saving drugs and vaccines.

Saudi Arabia’s PIF eyeing to scale up  local pharma industry
[Source photo: Anvita Gupta/Fast Company Middle East]

Local drug production is vital in building healthcare resilience, especially when reducing exposure to imports and international supply chains while diversifying locally produced pharmaceutical portfolios. 

To position Saudi Arabia as a global pharmaceutical manufacturing destination, Public Investment Fund (PIF) has set up a pharmaceutical investment company, Lifera, to focus on drug production and collaborating with local and international companies.

Lifera intends to produce life-saving pharmaceutical products such as insulins, vaccines, plasma therapeutics, monoclonal antibodies, cell and gene therapies, and innovative small molecules.

Emphasizing the importance of this new move for the kingdom, Yazeed Al Humied, Deputy Governor and Head of MENA Investments at PIF, said: “Biologics represents one of the most critical and fastest-growing pharmaceutical segments, both in Saudi Arabia and globally. Lifera intends to partner with leading companies to localize manufacturing and enable the private sector to scale up, ensuring easier patient access while securing the supply of life-saving medicines that meet local, regional, and global demand.”

Additionally, the PIF said it aims to make planned investments in supporting supply chains while creating new jobs and advancing skills in the healthcare ecosystem. 

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