Riyadh - Sharikat Mubasher: Saudi Arabia’s Local Content and Government Procurement Authority (LCGPA) signed four agreements to localize pharmaceutical industry and enhance knowledge transfer.

In a statement, the authority stated that the deals were based on the principle of cooperation and integration to enhance health and pharmaceutical security and development.

The LCGPA added that the financial impact of the agreements on the national gross domestic product (GDP) surpasses SAR 25 million.

The authority signed agreements with the Saudi-based Jamjoom Pharma and American company MSD to manufacture a medication for the treatment of type 2 diabetes.

Furthermore, the authority concluded agreements with Aja Pharma and SAJA Pharmaceutical Company to manufacture the antiplatelet medication ticagrelor.

Abdulrahman Al-Samari, CEO of LCGPA, stated that the agreements reflect the sustainable partnership between the government and private sector to develop local content.

He emphasized the authority’s dedication to establishing new industries and sectors in the Kingdom, enhancing supply chains for products, and achieving self-sufficiency for the country.