MoU signed to boost innovation in Saudi healthcare

The MoU includes the launch of an “Innovation Incentive Scheme”

30 June 2021

Saudi Arabia’s Investment Ministry and Janssen Pharmaceuticals have signed a memorandum of understanding to enhance innovation in the Saudi health and life sciences sector.

The ministry and the pharmaceutical firm will work together over the next five years to enhance the biotechnology business ecosystem, advance clinical trials, and enable research and innovation characterized by strong IP legislation, etc.

The MoU includes the launch of an “Innovation Incentive Scheme.”

Saudi Investment Minister Khalid Al-Falih said: “The case for investing in life sciences and healthcare has never been clearer, as we continue to fight the pandemic.

The sector has shown remarkable innovation and agility to deliver the COVID-19 vaccine, an achievement that would not have been possible without significant investment.”

Source: Arab News