The Global Health Exhibition witnessed today (Sunday) the signing of a preliminary agreement to localize insulin in the Kingdom, under the auspices of Their Excellencies the Minister of Health, Mr. Fahd bin Abdulrahman Al-Jalajel, the Minister of Investment, Engineer Khalid bin Abdulaziz Al-Falih, and the Minister of Industry and Mineral Resources, Mr. Bandar bin Ibrahim Al-Khorayef, and in the presence of a number of senior officials, investors, businessmen and healthcare sector experts.
This qualitative agreement came in partnership with the Local Content and Government Procurement Authority (LCGPA) and the Government Expenditure &Projects Authority (EXPRO) by activating the contractual approach for industry localization and knowledge transfer. This will contribute in maximizing the government's purchasing power and achieving self-sufficiency in a number of priority products and sectors, as it aims to localize the manufacture of some insulin products. The agreement was signed by the National Unified Procurement Company (NUPCO), Sudair Pharmaceuticals Company, and Sanofi Company.
The agreement seeks to strengthen the efforts of the government system, represented by the Ministries of Health, Industry, Mineral Resources, and Investment, regarding the localization of the medical and pharmaceutical industry, in a way that contributes to achieving pharmaceutical and health security in the Kingdom. It also aims to strengthen the Kingdom’s leadership in the medical and pharmaceutical industry in line with its pharmaceutical needs and requirements and develop the local content in the pharmaceutical industry field. The localization of pharmaceutical industries represents a top priority for the healthcare sector system in the Kingdom in the context of the health sector transformation program within the Saudi Vision 2030. It also seeks to confront public health challenges, including diabetes, through many specific initiatives that contribute to promoting preventive health and achieving (a healthy nation). It is consistent with the efforts of the industry and mineral resources system in the localization of priority industries. It also comes in line with the vital role of the Vaccines and Biopharmaceuticals Industry Committee, and the Localization and Development of Treatments Committee which achieves health and drug security.
It is noteworthy that the Global Health Exhibition will last until next Tuesday, at the ROSHN Exhibition and Conference Front (formerly Riyadh Front Exhibition & Conference Center" RFECC"). It aims to encourage investment in health to increase the growth of the health sector in the Kingdom, and to introduce visitors to the dimensions of progress witnessed by the healthcare system and its digital transformations and medical technologies.