Daewoong Pharmaceutical Discusses Strategies for Introducing Innovative New Drugs and Building a Bio Ecosystem with Saudi Government

Deputy Minister Khalid Al-Buraikan and Other Saudi Government Officials
Visit Daewoong Pharmaceutical Headquarters

Daewoong Pharmaceutical has discussed global cooperation strategies with the Saudi Arabian government, including the introduction of innovative new drugs, investment in R&D (research and development) and production, and the establishment of a bio ecosystem.

On October 17, Daewoong Pharmaceutical announced that last month, high-ranking officials from the Saudi Ministry of Health, including Deputy Minister Khalid Al-Buraikan and Director General of Strategic Cooperation Sarah Aref, visited the company’s headquarters in Samseong-dong, Gangnam-gu, Seoul.

On the 18th of last month, officials from the Saudi and Korean health authorities and representatives from Daewoong Pharmaceutical gathered at Daewoong Pharmaceutical headquarters to discuss cooperation plans and took a commemorative photo. Daewoong Pharmaceutical

The purpose of this visit was to share the current status and development strategies of the Saudi pharmaceutical and bio industries, and to explore avenues of cooperation based on Daewoong Pharmaceutical’s new drug technology and global expansion experience. Representatives from the Korean Ministry of Health and Welfare and the Korea Health Industry Development Institute also attended, continuing discussions on ways to foster cooperation between Korea and Saudi Arabia in the pharmaceutical and bio sectors.

Saudi Arabia is the largest pharmaceutical market in the Middle East, valued at 13 billion dollars (approximately 18.2377 trillion won), and is expected to grow to 19 billion dollars (approximately 26.6551 trillion won) by 2030. Recently, the Saudi government has been actively working to strengthen bio-manufacturing capabilities and promote pharmaceutical self-sufficiency.

In January of this year, Daewoong Pharmaceutical launched Nabota, a high-purity, high-quality botulinum toxin, in Saudi Arabia. The company is also working to introduce innovative new drugs such as Fexuclu, a treatment for gastroesophageal reflux disease, and Enblo, an SGLT-2 inhibitor diabetes treatment, into the Saudi market.

During the meeting, a wide range of topics were discussed, including local clinical research in Saudi Arabia, product approval, and the establishment of production facilities. Daewoong Pharmaceutical is considering not only simple product approval and introduction, but also a mid- to long-term cooperation model that involves various research collaborations and investments to help grow Saudi Arabia’s industrial capabilities and establish a local bio ecosystem.

In fact, Daewoong Pharmaceutical has been invited by the Saudi government to participate in the 'Saudi Global Health Exhibition' to be held in Riyadh in October 2025, and will continue discussions on cooperation. At the end of the year, the company also plans to launch the 'NMC MENA' global training program in Saudi Arabia for the first time, aiming to enhance the medical aesthetics skills of overseas healthcare professionals.

Park Sungsoo, CEO of Daewoong Pharmaceutical, stated, "Through these discussions, we were able to confirm that the vision of Saudi Arabia’s pharmaceutical and bio industry aligns with the direction of Daewoong Pharmaceutical’s global cooperation model," adding, "We hope that through mid- to long-term cooperation, we can jointly develop Saudi Arabia’s bio industry and contribute to improving the quality of life for local consumers."

This content was produced with the assistance of AI translation services.