Lifera buys majority stake in SaudiBio; will expand insulin capabilities
Lifera, a biopharmaceutical company wholly-owned by the Saudi Arabian Public Investment Fund (PIF), says it has successfully completed its acquisition of a 70% stake in SaudiBio.
The acquisition will scale up SaudiBio’s capacity to manufacture insulin, strengthening its strategic partnership with global partners and contributing to the ongoing growth of Saudi Arabia’s biopharmaceutical industry.
The incorporation of SaudiBio into Lifera's portfolio marks a significant milestone since its launch in June 2023, underscoring the strategic mission to enhance national resilience through developing, manufacturing, and commercializing essential medicine for the people of Saudi Arabia. This integration will foster technology transfer and continue to cultivate a skilled local biopharmaceutical workforce.
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