Arab News, Sat, Mar 16, 2024 | Ramadan 6, 1445
Saudi Food and Drug Authority explores investment prospects with US healthcare firms
Saudi Arabia:
Saudi Arabia’s food, drug, medical devices, and equipment sectors are on track
to prosper amid meetings with US healthcare firms to explore investment
opportunities between the two countries.
The Saudi Press Agency reported that the CEO of
the Saudi Food and Drug Authority, Hisham bin Saad Aljadhey, met with several
officials from American companies on the sidelines of the 25th session of the
International Medical Device Regulators Forum, being held in Washington DC, from
March 11 to 15.
This falls in line with SFDA’s endeavor to enhance
funding opportunities as well as engage in the know-how dynamics of the industry
and the challenges facing investors and the business community.
This also aligns well with the organization’s
mission to safeguard public health by guaranteeing the protection, quality, and
efficacy, as well as the accessibility, of both human and veterinary medicines
and vital products.
They also tackled the organization’s support of
the private sector in light of the promising development prospects available in
the Kingdom, primarily those related to the localization of the drug and
pharmaceutical industries as well as food safety and genetics technologies
sectors.
In February, Saudi healthcare saw an advancement
in medical interventions after US-based Johnson & Johnson’s technology firm, J&J
MedTech KSA, launched its direct operations in the Kingdom.
The company aims to bring customers closer to a
more streamlined experience as it provides high-tech medical and surgical
equipment, according to a statement released at the time.
The move aligns with the firm’s commitment to
enhancing medical interventions and improving clinical outcomes and reflects the
company’s ongoing investment in the future of Saudi healthcare, it added.
Drug production in the Kingdom is also set for
enhancement following the signing of four agreements in January to foster
partnerships between Saudi Arabia’s public and private sectors.
The Local Content and Government Procurement
Authority signed the deals for the localization of industry and knowledge
transfer, SPA reported.
The agreements were “based on the principle of
cooperation and integration to enhance health and pharmaceutical security and
development” in Saudi Arabia, the authority said.