Riyadh: Minister of Investment Khalid Al-Falih attended the signing of a strategic memorandum of understanding (MoU) between Lifera, a pharmaceutical investment company, and Danish pharmaceutical company Novo Nordisk to localize the manufacturing of advanced GLP-1 treatments for diabetes and obesity. This agreement is part of the Ministry of Investment's efforts to promote investments in the biotechnology sector.
According to Saudi Press Agency, the MoU aims to enable local production of innovative treatments, making the Kingdom the first country outside Denmark to gain approval for localizing GLP-1 manufacturing technology. This step reflects the Kingdom's efforts to achieve the objectives of the National Biotechnology Strategy.
The agreement also focuses on localizing the production of GLP-1 treatments, including semaglutide products like Ozempic and Wegovy, to meet local demand. Additionally, it aims to establish a regional center to manufacture and export these drugs to both regional and international markets.