saudi arabia aims to boost pharmaceutical industry
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Saudi Arabia aims to boost pharmaceutical industry

Arab Today, arab today

Arab Today, arab today Saudi Arabia aims to boost pharmaceutical industry

Minister of Health Tawfiq Al-Rabiah on Wednesday said Saudi
RIYADH - Arab Today

 Minister of Health Tawfiq Al-Rabiah on Wednesday said Saudi Arabia will do its best to boost its pharmaceutical industry under the National Transformation Program (NTP) 2020.
He was addressing local manufacturers of medicines and suppliers to medical laboratories at the headquarters of the Council of Saudi Chambers (CSC).
The meeting was attended by representatives of the Ministry of Energy, Industry and Mineral Resources, the Food and Drug Authority, and the National Committee for Pharmaceutical Industries at the CSC.
Al-Rabiah said that the fundamental plan is to produce pharmaceutical products to cater to the growing needs of the Kingdom. He explained that there are challenges in achieving such a goal, but said the ministry will lend its support to overcome any barriers.
There must be a unified body among drug manufacturers to work with the CSC and Ministry of Health to achieve the set goals, the minister stressed.
According to the Oxford Business Group, the NTP aims for an increase in the role of local pharmaceutical manufacturing in the domestic market, from 18 to 40 percent of the market.
There are 27 pharmaceutical manufacturers currently operating in the Kingdom. But imported branded pharmaceutical products in 2014 accounted for 80 percent of the domestic market.
The pharmaceutical market is projected to expand by 10 percent annually between 2015 and 2020, to reach SR51.2 billion ($13.6 billion), according to an April 2016 pharmaceuticals and health care report by BMI Research.
A July 2016 report by research and consulting firm GlobalData said the Saudi Ministry of Health plans to spend $18.5 billion on health care annually over the next 10 years, with a focus on improving the domestic manufacturing of medical devices and pharmaceuticals.
In April 2015 the Saudi Industrial Development Fund (SIDF) approved a SR54.1m ($14.4m) loan for Dammam Pharma, a subsidiary of Saudi Pharmaceutical Industries and Medical Appliances, aimed at partially financing the construction of a pharmaceutical plant in the eastern province of Dammam.
In February 2016 AJA Pharmaceutical Industries, a subsidiary of Saudi Chemical Company founded in 2012 to manufacture drugs locally on behalf of foreign firms under license, signed a SR157.5m ($42m) loan deal with SIDF for partial-financing of the company’s new 120,000 square-meter manufacturing facility in Hail Industrial City.

Source : Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi arabia aims to boost pharmaceutical industry saudi arabia aims to boost pharmaceutical industry

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

saudi arabia aims to boost pharmaceutical industry saudi arabia aims to boost pharmaceutical industry

 



GMT 12:49 2017 Wednesday ,06 September

Senegal wants to buy 10 units of ship from PT PAL Indonesia

GMT 22:57 2017 Wednesday ,01 March

Trump lays out his vision of America to Congress

GMT 21:08 2017 Sunday ,17 September

OIC condemns suicide attack in Cameroon

GMT 00:59 2017 Sunday ,10 December

hmad Zahid's Visit To Rohingya Camp

GMT 02:25 2017 Friday ,24 February

Pope in emotion-charged visit to Italy quake zone

GMT 22:26 2016 Thursday ,22 September

Indian market closes higher

GMT 05:52 2016 Wednesday ,05 October

Robin Williams’ widow details actor’s final days

GMT 18:42 2017 Saturday ,07 October

Education, Works ministries discuss cooperation

GMT 03:11 2017 Friday ,14 April

5 Sudanese soldiers killed in Yemen

GMT 15:35 2017 Saturday ,25 February

United Nations chief arrives in Saudi

GMT 20:47 2017 Saturday ,07 October

PM asserts to bolster relations with Egypt

GMT 07:09 2017 Wednesday ,29 March

Ellie Goulding to Open Mawazine Festival

GMT 05:01 2017 Friday ,05 May

Arab Media Forum begins in Dubai

GMT 01:12 2017 Wednesday ,18 October

Fights against climate change, terrorism linked

GMT 06:59 2017 Monday ,13 February

Disney parks in US increases prices again

GMT 14:36 2017 Wednesday ,04 January

Record-chasing Chelsea face test

GMT 14:34 2016 Sunday ,14 August

United States wins 1000th Olympic gold medal
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday