Riyadh, Saudi Arabia — Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has announced the establishment of Lifera, a commercial-scale contract development and manufacturing organization aimed at bolstering the growth of the country’s biopharmaceutical industry.
The move is part of PIF’s strategy to strengthen national resilience and position Saudi Arabia as a global destination for pharmaceutical manufacturing, PIF said in a statement.
Lifera will primarily focus on producing life-saving and essential pharmaceutical products, including insulins, vaccines, plasma therapeutics, monoclonal antibodies, cell and gene therapies, and innovative small molecules.
To achieve this, the company plans to forge partnerships with leading local and international firms and attract targeted investments to expand local manufacturing capacity and drive the development of the domestic pharmaceutical manufacturing sector, the statement said.
PIF’s strategy involves making strategic investments and establishing partnerships that strengthen Saudi Arabia’s supply chains, enhance access to pharmaceutical products, accelerate skills and resource development, create job opportunities, and facilitate the transfer of cutting-edge technology from international private sector partners.
Yazeed A. Al-Humied, Deputy Governor and Head of MENA Investments at PIF, said, “Biologics represents one of the most critical and fastest-growing pharmaceutical segments, both in Saudi Arabia and globally. Lifera intends to partner with leading companies in the sector to localize manufacturing, attract investment, and enable the private sector to scale up, ensuring easier access for patients while securing the supply of life-saving medicines to meet local, regional, and global demand.”
In addition to the launch of Lifera, PIF has also invested in the National Unified Procurement Company (Nupco), a prominent provider of medical procurement, storage, and distribution services for medicines, devices, and medical supplies in the Saudi healthcare sector.
Since 2017, PIF has established 79 companies across its 13 strategic sectors, highlighting its commitment to driving economic growth and diversification in Saudi Arabia.