Saudi Arabia's NEOM and Chinese company sign agreement to produce pharmaceuticals in the kingdom
NEOM,
the sustainable region taking shape in northwest Saudi Arabia, has signed a
strategic memorandum of understanding (MoU) with WuXi AppTec, a leading global
contract research, development, and manufacturing organization (CRDMO), to
localize pharmaceutical research and production capabilities within the
Kingdom.
Under the agreement, both entities will
collaborate to explore the development of state-of-the-art CRDMO facilities at Oxagon,
NEOM’s advanced and clean manufacturing hub, or other potential sites across
Saudi Arabia. The initiative aligns with the country’s vision to expand its
biotechnology and life sciences sectors as part of Saudi Vision 2030
and the National
Biotech Strategy.
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The partnership represents a key milestone in
Saudi Arabia’s push toward economic diversification and technological
advancement. By combining WuXi AppTec’s global expertise in biopharmaceutical
innovation with NEOM’s world-class infrastructure, the collaboration seeks to
build an advanced manufacturing ecosystem that benefits both regional and
international markets.
The venture will leverage Oxagon’s
cutting-edge facilities and sustainable manufacturing framework to foster a
thriving biotech community while supporting the Kingdom’s ambition to become a global
center for pharmaceutical research and production.
At its core, the partnership underscores a
shared vision — uniting WuXi AppTec’s decades of global experience with NEOM’s
role as a catalyst for innovation — to redefine industry standards and
strengthen international collaboration in healthcare and life sciences.
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Strengthening
international partnerships
Earlier this year, NEOM secured approximately $3
billion in a landmark export credit agency (ECA) financing deal with Italy’s SACE, marking NEOM’s first
corporate ECA financing and the largest untied facility ever guaranteed by the
Italian group.
The agreement, supported by a consortium of
nine major international banks — including HSBC, Bank of China, Citi, and J.P.
Morgan — will finance various NEOM initiatives and bolster collaboration with
Italian businesses, particularly small and medium-sized enterprises (SMEs).
To date, Italian suppliers and contractors
have contributed over $6.3 billion in contracts across NEOM projects,
highlighting the region’s growing global partnerships that support
infrastructure, urban development, and technology-led industries.
Source: Economy Middle East
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