MoU signed to boost innovation in healthcare
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.