PIF makes major health sector investment with the establishment of “Lifera”

PIF makes major health sector investment with the establishment of “Lifera”

Lifera will work on manufacturing, stockpiling and supplying medicines by developing state-of-the-art facilities and through local and international partnerships Biologics represents one of the most critical and fastest-growing pharmaceutical segments, both in Saudi Arabia and globally Since 2017, PIF has established 79 companies across its 13 strategic sectors Riyadh : The Public Investment Fund (PIF) today announced the establishment of the Pharmaceutical Investment Company (Lifera), a commercial-scale contract development and manufacturing organization, to enable the growth of the local biopharmaceutical industry , strengthen national resilience, and supporting Saudi Arabia’s position as a global pharmaceutical manufacturing destination. Lifera intends to focus on manufacturing life-saving and essential pharmaceutical products, including insulins, vaccines, plasma therapeutics, monoclonal antibodies, cell and gene therapies, and innovative small molecules. The company will create partnerships with leading local and international companies and attract targeted investments in order to grow local capacity and drive the development of domestic manufacturing in this sector. The global healthcare market is expected to develop rapidly over the next decade with innovation in medicines and therapies, advances in precision medicine, genomics and the wide range of treatment modalities available. Lifera aims to drive formulation development, medicine development and manufacturing, as well as testing services