{"id":92463,"date":"2024-12-12T00:00:00","date_gmt":"2024-12-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/12\/three-pharma-projects-worth-sar-926-mn-announced-at-cphi-day-two\/"},"modified":"2024-12-12T00:00:00","modified_gmt":"2024-12-12T00:00:00","slug":"three-pharma-projects-worth-sar-926-mn-announced-at-cphi-day-two","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/12\/12\/three-pharma-projects-worth-sar-926-mn-announced-at-cphi-day-two\/","title":{"rendered":"Three pharma projects worth SAR 926 mn announced at CPHI day two"},"content":{"rendered":"

The second day of CPHI Middle East Exhibition saw new agreements <\/strong>including a SAR 426 mn initiative by SVAX<\/a> and China\u2019s Henlius<\/a> to establish Fosun Henlius Middle East, focusing on biologics, Zawya<\/a> reports. UAE-based Julphar<\/a> pledged SAR 300 mn to build a biopharma facility for advanced biologics, while Zeta Gulf<\/a> committed SAR 200 mn for a pharma manufacturing facility in Saudi Arabia.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

AND- More details on <\/strong>day one\u2019s<\/a><\/strong> projects:<\/strong> US-based Vertex Pharma\u2019s SAR 1 bn project will focus on localising production and advancing treatments for sickle cell disease and thalassemia under an agreement with the ministries of health, investment, and mineral resources. Tamer Group\u2019s SAR 1.5 bn project is with Saja Pharma to develop a solar-powered logistics park in Riyadh and a manufacturing facility in Jeddah. While Tabuk Pharma\u2019s SAR 100 mn agreement will see it expand R&D efforts into autoimmune diseases.<\/p>\n

DATA POINT- <\/strong>Saudi Arabia, the fastest-growing pharma market in the G20, is projected to see a 9.3% CAGR, contributing nearly half of the USD 32 bn regional market by 2027, according to Abdulaziz Hamad AlRamaih, Deputy Minister for Planning and Development at the Health Ministry. The Kingdom's pharma sector includes over 200 factories with investments exceeding USD 2.6 bn.<\/p>\n

The Kingdom\u2019s health plans: <\/strong>Saudi Arabia plans to establish 10 national clinical trial centers, including virtual trials, as part of its efforts to position itself as a drug development leader. Senior Advisor to the Minister of Industry Nizar Al Hariri outlined a SAR 11 bn investment in next-gen healthcare, aiming to create 13k jobs.<\/p>\n

IN OTHER HEALTHCARE NEWS- <\/strong>Avalon Pharma<\/a><\/strong> aims to boost its exports <\/strong>to make 30% of total sales by 2030 from 15% currently, Mubasher<\/a> reports, citing CEO Mohammed Al Ghannam. The company is looking into setting up new factories with over SAR 100 mn in investments within five years.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Kingdom\u2019s pharma market is expected to grow at a 9.3% CAGR until 2027<\/p>\n","protected":false},"author":1,"featured_media":92464,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2646],"tags":[10,13,2636],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-92463","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-healthcare","tag-enterpriseam-ksa","tag-healthcare","tag-pharma","wpautop","entry"],"acf":{"mongo_id":"ae2cbbd5-c075-419d-bb2e-a1d0f2982d49","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/12\/1173.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Three pharma projects worth SAR 926 mn announced at CPHI day two","related_issue":[92455],"teaser":"The Kingdom\u2019s pharma market is expected to grow at a 9.3% CAGR until 2027","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.c363eb57-e0bb-4a46-90f5-b5126c70a019.mp3"},"yoast_head":"\nThree pharma projects worth SAR 926 mn announced at CPHI day two - 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