Riyadh, January 29, 2024, The Local Content and Government Procurement Authority (LCGPA) has entered into four agreements aimed at promoting industry localization and knowledge transfer. Among these agreements are collaborations involving Sitagliptin Phosphate with Jamjom Pharma and MSD, as well as Ticagrelor with Aja Pharma and the Saudi Arabian-Japanese SAJA Pharmaceutical Company.
Abdulrahman Al-Samari, the CEO of LCGPA, emphasized that these agreements signify a sustainable partnership between the government sector and private entities, with the common goal of advancing local content development. Al-Samari highlighted the authority's dedication to expanding the mandatory product list in accordance with established conventions. The benefits of these agreements will extend to all government agencies, state-owned entities, and public hospitals falling under the mandatory list mechanism.
Al-Samari further noted that the financial impact of pharmaceutical localization has exceeded SAR 250 million over the course of a decade, encompassing all agreements. He underscored the authority's unwavering commitment to nurturing the growth of new industries and sectors within the Kingdom, optimizing supply chains for various products, and ultimately achieving self-sufficiency for the nation