Saudi Ministry aims to localize between 80% and 90% of Saudi Arabias need for insulin

Bandar Al-Khorayef, the Minister of Industry and Mineral Resources, reaffirmed that the Ministry seeks to localise 80–90% of Saudi Arabia's insulin needs. On Sunday, while attending the Global Health Forum in Riyadh, Al-Khorayef made the following statements. He said that the Ministry is eager to export to overseas markets and draw in quality investment in the healthcare and pharmaceutical industries.

The Saudi Food and Drugs Authority (SFDA), the Ministry of Health, and other pertinent authorities have provided the Treatments Localization and Development Committee, which was established in 2020, with over 1,000 pharmaceutical preparations to promote drug security, promote health, and identify the country's medical drug needs. The minister stated that more than 200 priority therapies were tallied, making up almost 40% of the SR14 billion in purchases made by government health organisations overall. This suggests that efforts are presently underway to localise some of these medications.

According to Al-Khorayef, the purpose of the Vaccines and Biopharmaceuticals Industry Committee was to incorporate several ministries and stakeholders and to conclude the Treatments Localization and Development Committee.Several essential pharmaceutical preparations, such as vaccines, insulin, plasma derivative products, and all medications and biosimilars, whose localization rate, based on the prepared strategies, will exceed more than 70%, are being studied and localised by the Vaccines and Biopharmaceuticals Industry Committee.

According to the Minister of Industry and Mineral Resources, there are 84 pharmaceutical firms registered with the ministry. Of them, 48 have SFDA licences and have invested close to SR7 billion in total. He continued by saying that 148 enterprises licenced by the SFDA produced medical devices and equipment, with investments totaling close to SR3.1 billion. He also out that Saudi Arabia's most significant location to produce pharmaceuticals and medical devices will be Sudair City for Industry and Businesses.

Al-Khorayef affirmed that the Ministry is collaborating with several parties and approaching this matter from a broad standpoint to draw in further international capital to the Saudi Arabian health sector. Along with boosting pharmaceutical industry exports, which have reached SR1.5 billion so far, the Ministry is also attempting to raise the share of local content in the healthcare sector.