Janssen, the pharmaceutical companies of Johnson and Johnson, one of the world’s leading healthcare companies, has signed a memorandum of understanding (MoU) with Saudi Pharmaceutical Industries & Medical Appliances (SPIMACO) to establish pharmaceutical manufacturing capabilities in the kingdom, supporting localisation within the healthcare sector in alignment with Saudi Vision 2030.
The agreement between Janssen and SPIMACO outlines a commitment to invest in technology transfer of pharmaceuticals within Saudi Arabia in a variety of therapeutic areas, the company said in a statement. The agreement relates to several innovative therapies which will accelerate the development of the country’s capabilities in the pharmaceutical sector, as well as address complex health needs of the nation.
Eng. Abdulaziz ALSheikh, General Manager, Janssen & Medical Devices Johnson & Johnson – Saudi Arabia, said: “Janssen has been a strategic partner in the Kingdom for many decades and we are proud to continue to build value in the health sector through partnerships with local companies, such as SPIMACO. Initiatives such as this reinforce our commitment and our presence in the Kingdom, and will offer value through knowledge, technology transfer and capability building with our innovative products, and ultimately offer more opportunities for investments and job creation. In line with the Kingdom’s efforts to increase participation of local companies from 20% to 40%, we believe this will position Saudi Arabia as a pioneer in establishing innovative policies and pharmaceutical partnerships.”
The healthcare system in Saudi Arabia has seen a dramatic transformation in recent years and has benefitted from substantial investment, which has provided new opportunities at an unprecedented rate. As part of the Saudi Vision 2030, and supported by strategic partnerships, the Kingdom aims to further improve and enhance the quality of healthcare services and provide world-class healthcare infrastructure for a healthier population.
By bringing the knowledge associated with producing cutting-edge pharmaceuticals, Janssen’s agreement with SPIMACO reflects an ever-growing commitment to the Saudi patients and a desire to create value within the society. The ambitious plans include the establishment of the necessary infrastructure and equipment associated with highly technical and complex pharmaceutical processes. As such, supporting these operations requires in-depth training and knowledge transfer.-–TradeArabia News Service