Riyadh – Mubasher: The Saudi Food and Drug Authority (SFDA) and the Saudi Authority for Intellectual Property (SAIP) on Monday launched an initiative to enhance the protection of innovative pharmaceutical products and support national pharmaceutical industry, Saudi Press Agency (SPA) reported.
The initiative builds on the kingdom’s Vision 2030 aimed at attracting investments in the pharmaceutical industry sector in a bid to localise the industry, transfer technology, and increase job opportunities.
Local manufacturing of pharmaceuticals has seen exponential growth in the latest years, with the number of local factories exceeding 42. These factories provide approximately 25% of the local market needs.
