Sheikh Ahmed bin Saqr Al-Qasimi, chairman of RAKEZ.

Sheikh Ahmed bin Saqr Al-Qasimi, chairman of RAKEZ.
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Updated 09 April 2020

Sheikh Ahmed bin Saqr Al-Qasimi, chairman of RAKEZ.

Ras Al-Khaimah Economic Zone (RAKEZ) has launched customized bundles of incentives with a total value of 50 million dirhams ($13.6 million) to ease the impact of the current global situation for its family of more than 15,000 companies and reinforce their business continuity. The incentives comprise various discounts on fees, waiver of penalties and fees as well as flexible installment options.

“Our clients are at the heart of everything we do, and now more than ever, we are here for them,” said Sheikh Ahmed bin Saqr Al-Qasimi, chairman of RAKEZ. “We understand that these uncertain times present unique challenges to different businesses, so we decided not to rush and launch unevaluated incentives. Instead, we took the time to study the situation from our clients’ perspective — what challenges each sector is facing and how we can lessen their burdens. With the allocation of this 50 million dirhams support fund, we make it possible to customize bundles of benefits based on each clients’ need to boost their business stability.”

Our aim is to make sure that when this situation ends, we come out stronger together and ready to bounce back.”

Under the allocated fund, the economic zone has introduced Client Support Boosters for the SME and the industrial sectors, offering various incentives and the agility to customize solutions based on its clients’ needs.


Clinical trials to accelerate adoption of new drug treatments in Saudi Arabia

Updated 27 May 2020

Clinical trials to accelerate adoption of new drug treatments in Saudi Arabia

  • Trials are being led locally as an essential means to verify the safety and effectiveness of a new drug
  • Eli Lilly has a major role to play during the coronavirus disease (COVID-19) pandemic

RIYADH: Clinical trials in Saudi Arabia could speed up the adoption of new drugs locally, a pharmaceutical executive has told Arab News.

“Clinical trials have two very big benefits for the Kingdom. Firstly, they provide data in the long run with respect to safety and efficacy, catered specifically to the Saudi population. Secondly, they impact local investment and build healthcare capabilities,” Managing Director of Eli Lilly Dimitri Livadas said..

Lividas further explained that the clinical trial phase of any new treatment is crucial as it represents the stage between the adoption or rejection of a drug. Working with the Ministry of Health and with a presence in the Kingdom for 42 years, the pharmaceutical company began research trials in the country in 2016, consisting of five pre-marketing activities and three monitoring studies for post-marketing.

Lividas added that the trials are being led locally as an essential means to verify the safety and effectiveness of a new drug before it is put to the market and introduced to patients. The majority of these are focused on diabetes, oncology, immunology, and osteoporosis.

“We genuinely believe that our future is here in Saudi Arabia. We continue to make great progress in having a commercial organization in the Kingdom that is fully staffed by Saudi nationals,” said Lividas.

As a biopharmaceutical company, Eli Lilly has a major role to play during the coronavirus disease (COVID-19) pandemic. It recently announced partnership with AbCellera to develop a treatment for the virus and aims to enter into clinical trials this year.

“I salute the Saudi authorities for their strong measures to contain the spread of COVID-19. I think it is an example to the world on how to do this. I would like to also express my gratitude toward all healthcare professionals who are currently on the frontlines, risking their own health to help others," Lividas said.