Saudi Arabia Launches Lifera to Boost Local Biopharmaceutical Industry
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has launched a commercial-scale contract development and manufacturing organization called Lifera. The pharmaceutical investment company aims to focus on manufacturing essential and life-saving pharmaceutical products, including vaccines, insulins, monoclonal antibodies, plasma therapeutics, innovative small molecules, and cell and gene therapies. The company seeks to bolster Saudi Arabia’s position as a global pharmaceutical manufacturing destination.
Lifera’s Objectives
According to an official statement, Lifera aims to drive formulation development, medicine development, manufacturing, and testing services for sterile pharmaceutical products. The company will create partnerships with leading local and international companies and attract targeted investments to boost local capacity and drive the development of domestic manufacturing in this sector.
Yazeed A. Al-Humied, deputy governor and head of MENA Investments at PIF, said that the company intends to partner with leading companies in the sector to localize manufacturing, attract investment, and enable the private sector to scale up. This will ensure easier access for patients while securing the supply of life-saving medicines that can meet local, regional, and global demand.
PIF’s Strategic Investments
Through strategic investments, PIF aspires to be a vital enabler acting as a catalyst to innovate and enhance the healthcare eco-system while creating significant opportunities for the domestic private sector. In its efforts to enable the supply chain of medicines, the wealth fund has also invested in the National Unified Procurement Co.
Since 2017, PIF has established 79 companies across its 13 strategic sectors.
Conclusion
Lifera is a significant step towards boosting Saudi Arabia’s position as a global pharmaceutical manufacturing destination. The company’s focus on manufacturing essential and life-saving pharmaceutical products will help improve access to advanced medicines and treatments in Saudi Arabia. By partnering with leading companies in the sector, Lifera aims to localize manufacturing, attract investment, and enable the private sector to scale up. This will ensure easier access for patients while securing the supply of life-saving medicines that can meet local, regional, and global demand.