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Find out moreWelcome to this edition of Law Update, where we focus on the ever-evolving landscape of financial services regulation across the region. As the financial markets in the region continue to grow and diversify, this issue provides timely insights into the key regulatory developments shaping banking, investment, insolvency, and emerging technologies.
2025 is set to be a game-changer for the MENA region, with legal and regulatory shifts from 2024 continuing to reshape its economic landscape. Saudi Arabia, the UAE, Egypt, Iraq, Qatar, and Bahrain are all implementing groundbreaking reforms in sustainable financing, investment laws, labor regulations, and dispute resolution. As the region positions itself for deeper global integration, businesses must adapt to a rapidly evolving legal environment.
Our Eyes on 2025 publication provides essential insights and practical guidance on the key legal updates shaping the year ahead—equipping you with the knowledge to stay ahead in this dynamic market.
In October 2023, the Saudi Food and Drug Authority (‘SFDA‘) issued a guidance document on its new breakthrough medicines program (‘BMP’). The BMP aims to facilitate and accelerate development and review of new drugs that address unmet medical need in the treatment of serious or life-threatening conditions.
Under the breakthrough medicine program, the designation request may be submitted by the end of phase 2 trials, or at any time after. All four criteria must be fulfilled in order to gain a breakthrough medicine designation:
As part of the application for designation as a BMP and completion of the Breakthrough Medicine Designation Form, the applicant should submit preliminary evidence, based on non-clinical and clinical data, that the advantage claimed for the product may be of significant relevance to the patient and will address their unmet need. A well-argued evaluation of the likelihood of achievement of the product’s claim should be provided, based on the totality of information available at the time of designation.
Following granting of the BMP designation, an applicant must submit the medicine application file within 30 working days after granting the designation. The application shall be submitted through Saudi Drug Registration (‘SDR‘) System and according to the SFDA’s “Guidance for Submission”. The applicant may request an exemption for one or more of the registration requirements, if unavailable (e.g. CPP, leaflet and artwork). The scientific assessment takes 60 working days. When the SFDA has sufficient information about the product, it will make a decision on whether or not a medicine should be granted a marketing authorisation.
Importantly, the company can start the medication access negotiation process with all involved healthcare entities in parallel with application review.
Al Tamimi & Company’s Healthcare & Life Sciences practice in Saudi Arabia spans all three of our KSA offices (Riyadh, Jeddah, & Al Khobar) and is well placed to advise on regulatory matters impacting the life sciences industry, such as the SFDA Break Through Medicine Program.
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