Echoes of the past as Saudi fashion looks to the future
Saudi Arabia to Build First Foot-and-Mouth Disease Vaccine Manufacturing Plant in Riyadh
DJEDDAH: MAS Company, a Riyadh-based veterinary service provider, has signed a $ 60 million deal with Argentine biotechnology company Biogenesis Bágo to build the Kingdom’s first foot-and-mouth disease vaccine manufacturing plant.
The official ceremony took place on Monday and was approved by the Saudi Ministry of Environment, Water and Agriculture and hosted by Abdulrahman Al-Fadley, chairman of the Saudi Food and Drug Authority.
Foot-and-mouth disease is a contagious virus in farm animals that can affect humans, and the new agreement aims to help Saudi Arabia become the first Arab country to get rid of the disease.
The new manufacturing plant will be built in three phases and is expected to be completed within four years. Once it is operational, it will create more than 400 jobs and have the capacity to produce 200 million doses of vaccine per year, Dr Esteban Turic, CEO of Bioegénesis Bagó, told Arab News, adding that the agreement made part of its expansion. plans.
“We are considering additional facilities for the new animal vaccines needed in the country and in the wider region,” he said.
Biogenesis Bágo has over 80 years of biotechnical development and manufacturing experience and was selected to be a project partner after successfully contributing to the eradication of foot-and-mouth disease in Latin America and Asia. The company is a supplier of FMD bank in the United States and Canada.
“Biogenesis Bagó currently has operations in Saudi Arabia and the wider region. We export from our main site in Argentina, from where we source the US antigen and vaccine bank, seven countries in Latin America and four from Asia, ”said Turic.
MAS Company CEO Nawaf Al-Ibrahim said the project is part of a reform agenda under Vision 2030 that aims to make the Kingdom self-sufficient and sustainable in food security.
As part of the Kingdom’s Vision 2030 economic diversification goals, Saudi Arabia is making heavy investments in its manufacturing sector. Authorities issued 307 new factory licenses in the first three months of this year, an increase of 27.92% year-on-year. However, in terms of dollar investments, the amount jumped 428.6 percent to SR 17.72 billion ($ 4.73 billion), according to figures from the Ministry of Industry and Mineral Resources.
The Kingdom’s pharmaceutical drug market is a critical component of this growth. It was estimated at $ 10.19 billion last year and is expected to grow at an annual rate of 7.3% over the next six years, according to a report by US research firm Coherent Market Insights.