RIYADH — The Ministry of Investment announced on Tuesday the signing of a memorandum of understanding (MoU) with AstraZeneca Company to boost the businesses of the company in Saudi Arabia, and that is in partnership with the Health Affairs at the Ministry of National Guard.
The Ministry of Investment said in a statement that the deal aims to explore opportunities to establish world-class clinical research centers in Saudi Arabia, in order to enhance its ambition to provide the best and most innovative pharmaceutical products to patients in the Kingdom.
The MoU also targets enhancing the supervision of AstraZeneca’s local manufacturing project with its local partners, all the way to the commercial supply stage.
Minister of Investment Eng. Khalid Al-Falih said that the MoU will work to strengthen strategic partnerships for the Saudi and international companies in the Kingdom’s healthcare sector.
“The MoU will work to advance the great capabilities of the healthcare sector in the Kingdom, whether in the field of research, studies or clinical trials, leading to the provision of medical preparations and medicines, in a way that enhances the services provided in the health sector,” he added.
Dr. Bandar Al-Knawy, CEO of the Ministry of National Guard Health Affairs, said that the MoU provides an opportunity for the health sector and local companies to benefit from the latest developments in the pharmaceutical industry.
He noted that the deal with AstraZeneca opens the door for leading international companies to participate in enhancing the capabilities of the healthcare sector in the Kingdom and benefit from the high demand for health services.
On his part, AstraZeneca’s Vice President Dr. Blaine Inkiso said that the MoU establishes the strengthening of the company’s investment relations in the Kingdom by evaluating many important partnership opportunities with healthcare institutions in the Kingdom.
It is noteworthy that AstraZeneca is a British-Swedish multinational pharmaceutical and biotechnology company with its headquarters in Cambridge, United Kingdom.
It has a portfolio of products for major diseases and it has been involved in developing the Oxford-AstraZeneca COVID-19 vaccine, one of the approved vaccines in the Kingdom.