RIYADH: Saudi Arabia’s Ministry of Investment signed two memorandums of understanding to enhance joint cooperation with the biotechnology and medicine sector in the Kingdom, the state-run SPA news agency reported on Friday.
The ministry signed one agreement with German-based Boehringer Ingelheim Company to enhance the pharmaceutical industry through an industrial project to transfer knowledge and technology to manufacture the drug “Trajenta” used to treat type-2 diabetes.
The deal also aims to raise awareness of several developmental scientific programs, as well as diagnose rare diseases in the Kingdom by applying the company’s artificial intelligence technology and establishing a specialized electronic platform so medical staff can remotely diagnose strokes.
The second MoU was signed with Novo Nordisk Saudi Arabia and King Abdullah University of Science and Technology and will contribute to providing solutions to develop community awareness about the concepts of metabolic disorders, obesity and diabetes.
It also includes establishing a center of excellence dedicated to supporting research and studies of obesity and metabolic disorders, evaluating treatment centers, and presenting a work memo to develop the services provided by these centers.
The two MoUs aim to transfer knowledge, localize the industry, contribute to enhancing human health and quality of life, raise awareness, and establish specialized research centers.
The agreements were signed on the sidelines of the Global Medical Biotechnology Summit 2023, which was organized by the Ministry of National Guard Health Affairs in Riyadh on Jan. 25-26, in the presence of the Minister of Investment, Khalid Al-Falih.
The Ministry of Investment was a strategic partner at the summit, which gathered international experts to discuss the latest developments in medical biotechnology and help consolidate the Kingdom’s position as a global gateway to the sector by building global partnerships and introducing programs to develop the national pharmaceutical industry.
