RIYADH: The global pharmaceutical exhibition, CPHI Middle East, concluded with the announcement of strategic partnerships exceeding SAR10 billion, marking a significant achievement for the industry. The event, noted as the largest of its kind in the history of the pharmaceutical sector, attracted over 460 brands, with 80% being international, making it the most attended event in the Middle East and Africa (MENA) region.
According to Saudi Press Agency, Minister of Health Fahad Al-Jalajel highlighted the success of the exhibition as a pivotal moment for the Kingdom. He emphasized that innovation in the pharmaceutical industry aligns with the Kingdom’s objectives to enhance health through the Saudi Vision 2030. The event is seen as a strategic step in positioning Saudi Arabia as a global hub for pharmaceutical innovation and development, aiming to improve quality of life and support the pharmaceutical economy.
The minister also projected that the pharmaceutical market in the MENA region is expected to reach $
32 billion by 2027, with Saudi Arabia capturing about half of this market, amounting to over $15 billion. This positions the Kingdom as a leader in advancement and innovation within the sector, where new ideas are welcomed with a forward-thinking approach.
The exhibition witnessed the signing of a strategic investment agreement between the Ministry of Health and Julphar Gulf Pharmaceutical Industries to establish an advanced bio-pharmaceutical facility in Saudi Arabia, valued at SAR300 million. This move aims to support the national biotechnology strategy. Additionally, the announcement of the establishment of the ZETA Gulf Pharmaceuticals plant in the Kingdom, valued at SAR200 million, was made to further boost the pharmaceutical sector and align with the goals of the Saudi Vision 2030.