The Saudi Ministry of Investment has signed an initial agreement with UK research-based pharmaceutical and healthcare giant GlaxoSmithKline to uplift the pharmaceuticals sector in the Kingdom.

Both parties have agreed to localize the manufacturing of the firm’s prominent products, as well as transfer knowledge and technology.

Joint market research and studies with UK-based healthcare experts will also take place as part of the agreement.

The collaboration aims to transform the Kingdom into a regional hub for research in the medical self-care industry.