Novo Nordisk, a leading global healthcare company, has announced the signing of a MoU with Lifera, a biopharmaceutical company owned by the Saudi sovereign wealth fund PIF (Public Investment Fund), to pursue the localisation of the manufacturing of semaglutide GLP-1 treatments in Saudi Arabia.

 

The MoU marks a significant step in strengthening the kingdom’s healthcare sector and pharmaceutical manufacturing capabilities. The Semaglutide GLP-1 treatments are the global market-leading therapeutics for weight management. 

 

The agreement was sealed at a key ceremony held in the presence of Minister of Investment Eng. Khalid bin Abdulaziz Al Falih and several officials, along with representatives from Novo Nordisk and Lifera.

 

Under this deal, Novo Nordisk plans to launch Wegovy in the Saudi Arabian market in 2025 to treat patients living with obesity in both the public and private sectors.

 

"This MoU is testament to our long-term commitment to people living with chronic disease in Saudi Arabia," remarked Mike Doustdar, Executive Vice President, International Operations at Novo Nordisk. 

 

"By localising production, we are enhancing access to our life-changing medicines, enabling us to serve more people living with serious chronic diseases, while supporting local industry and skills," he stated.

 

Local production of semaglutide GLP-1 treatments in Saudi Arabia will improve access to healthcare for people living with chronic disease, enhance national pharmaceutical self-sufficiency, and support local skills and innovation, he added.

 

Melvin D’Souza, General Manager at Novo Nordisk Saudi Arabia, said with this deal it aims to help improve the availability of critical therapies in Saudi Arabia, accelerate time-to-treatment for people living with chronic disease, and ultimately reduce long-term healthcare costs associated with serious chronic diseases.

 

"We reached nearly 1 million people with diabetes and obesity last year in Saudi Arabia and our vision is to triple that number by 2030. With a strong pipeline of new treatments and innovations on the horizon, we're focused on growing and contributing to the society in a sustainable way," noted Melvin. 

 

"Our strategy at Novo Nordisk in Saudi Arabia focuses on innovation, increasing speed and access to treatments, and continuing our close collaboration with stakeholders to ensure better outcomes for people living with chronic disease," he noted.

 

"This MoU serves as a foundation for both parties to advance the establishment of local production capabilities for semaglutide GLP-1 treatments in Saudi Arabia," he added.-TradeArabia News Service