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Meeting Highlights:
- Vision 2030 Overview: Saudi Arabia's Vision 2030 is a strategic framework aimed at diversifying the economy creating an ideal momentum for foreign investments.
- AbbVie’s Regional HQ: AbbVie has established regional headquarters in Saudi Arabia, positioning itself as a key player in the growing healthcare sector
- Digital Technology Adoption: Emphasizing lessons learned from the pandemic, there is a strong push to integrate artificial intelligence (AI) with national healthcare priorities.
- Patient Access Definition: Ensuring that eligible patients have access to necessary treatments, emphasizing patient-centered care.
- Portfolio Focus: How AbbVie provides treatments for complex diseases, including a focus on immunology, oncology and eye care, among others.
- Long-term Commitment: Ashraf's final message on how AbbVie is focused on establishing a lasting presence in Saudi Arabia, aligning with the broader goals of Vision 2030 for sustainable economic growth.
EF: Why did AbbVie choose to establish its regional headquarters in Saudi Arabia, and how does this decision align with Saudi Arabia's Vision 2030
AD: For foreign investors, aligning with Saudi Arabia's Vision 2030 is crucial. Vision 2030 clarifies that partnerships are key to driving progress. One of the most significant partnerships in Saudi has been the establishment of our regional headquarters. AbbVie, as a global company, has the objective to align strategic thinking and collaboration across the region. Saudi Arabia, the most valuable contributor to the MENA region, naturally stands out as the ideal location for such an initiative. With its stability, focus on innovation, transformative policies, and welcoming environment for investment, Saudi provides the right conditions to lead the region in impactful decision-making not just for the country itself but for the entire area. That’s why, in 2022, we took the step to establish our regional headquarters here. We were among the first movers, which reflects our ability and innovative company to understand and align with the direction of Vision 2030. We made the right call by partnering with the Ministry of Investment, ensuring we are fully engaged and contributing to the vision. This partnership is the foundation of why we chose to base our regional headquarters in Saudi Arabia.
Any foreign investor should recognize that Saudi Arabia is one of the most promising places to invest. It offers sustainability and long-term growth, ensuring strong returns while aligning with Vision 2030. Saudi Arabia is emerging as a growing healthcare powerhouse, making it a strategic choice for investment. For us at AbbVie, staying aligned with the country's Vision 2030 has been a top priority, which reflects our commitment to Saudi Arabia. We've worked closely with government stakeholders and boards to accelerate the transformation process in line with the national agenda. The Vision 2030 framework is clear, and infrastructure investment has been key. At AbbVie, we've collaborated strongly in this area, signing MOUs (Memorandum of Understanding) with major external stakeholders, including the Ministry of Health, to support the development of world-class healthcare facilities and institutions.
Policy alignment is another critical focus, especially in the pharmaceutical industry. We've worked closely with the SFDA and the Saudi National Institute of Health on clinical research to ensure our operations align with national healthcare goals. This alignment will enable us to impact more patients and make our business model more sustainable for a robust healthcare sector. Finally, public health accreditation is a key area in which we've been able to contribute. We've closely monitored the government-led public healthcare initiatives and collaborated to raise standards, focusing on treating diseases and prevention. Saudi Arabia is making significant strides in healthcare promotion by promoting preventive medicine and public health programs. This unique investment approach is driven by proactive partnerships, such as establishing regional headquarters, which provides an unmatched advantage and reflects Saudi Arabia's potential.
EF: Could you elaborate on your role in Saudi Arabia, and how are you positioned as a partner of choice helping the Kingdom on their Vision 2030?
AD: Our primary focus is on enhancing patient care by providing services that meet their current needs while fostering opportunities for sustainable growth in healthcare. A key achievement has been our collaboration with regulatory bodies to ensure robust support for innovative medicines and solutions that benefit patients. For instance, the progress made by the Saudi FDA in advancing the regulatory landscape has been instrumental, particularly through initiatives like abridged and fast-track platforms that expedite the introduction of cutting-edge treatments. These efforts align with global standards and enhance access to advanced therapies for patients. By attracting global healthcare investments, we're committed to driving pharmaceutical innovation that prioritizes patient well-being. Moreover, our healthcare strategies, supported by the Ministry of Health, are tailored to improve population health and enhance healthcare delivery, ensuring patients receive high-quality, effective care.
EF: What is your vision of the role of data and AI in shaping the future of healthcare?
AD: AI is growing fast and has incredible potential, especially in healthcare, managing systems, and preventing illness. I think its role in preventive medicine will be even more important. If we've learned anything from the pandemic, waiting to react is no longer an option. We thought we had everything under control with our existing standards of care, but it showed us where we fell short. That's why learning from those lessons is important and figuring out how to align AI with the priorities that truly matter. Healthcare is in a transformation phase right now. As an example, clinical trial sites are crucial to the drug development process, providing a controlled, safe environment to test a drug candidate in patients. AbbVie uses AI- and ML-powered advanced analytics tools to tap into decades of data to predict which clinical sites will get up and running quickly and can help deliver on study objectives.
We are bringing into Saudi Arabia what we've learned globally, our expertise and practices that work in places like the US and Europe; and analyzing how to adapt these strategies for Saudi Arabia sustainably. Some healthcare systems around the world have points in common and this allows us to bring in those ideas and integrate them in Saudi Arabia. As healthcare leaders, we are responsible for sharing knowledge and collaborating, helping to integrate tools like AI in ways that truly make a difference. It's about creating a system that's not just advanced but meaningful and impactful for everyone involved.
For us, it is important to strengthen our partnership with the Saudi government. This is essential for working closely with all stakeholders and integrating innovation into Saudi Arabia’s healthcare system. There is an opportunity to leverage Saudi Arabia’s truly impressive facilities to build a sustainable clinical trial infrastructure, that will position the Kingdom as a reference. To this end, building local capabilities is key to improving Saudi Arabia’s standing in the clinical trial space, and investing in developing the right expertise is crucial.
Regarding healthcare access and partnerships, we need to work together with the authorities to simplify processes and make it easier for patients to access innovative medicines. Registering these medicines with the SFDA is a great starting point, but it’s only part of the comprehensive solution. We must focus on speeding up the entire process so eligible patients can get the necessary treatments without the current delays. We must have systems to identify eligible patients, complete the approval process, and ensure they can access these medicines as quickly as possible. AI can potentially play a major role in transforming this process by helping streamline patient recruitment, speed up approvals, and optimize the supply chain for innovative treatments.
EF: What is your definition of access?
AD: At AbbVie, we recognize that innovative treatments can only make a difference if patients can get the medicines that they and their providers choose. It’s great to hear that when the authorities approve a new, innovative product, access is when patients can get their treatment. That's why it is important to have a clear set of KPIs that measure how easy it is for an eligible patient to get their medicine. Working on streamlining collaboration and processes can help reduce redundancies and have patients access their treatments faster.
If we claim to be patient-centric, we must ensure that patients can access the product as soon as possible. That's why AI and digital transformation are so important. The Kingdom of Saudi Arabia has made incredible digitalization progress, and this is helping patients in Saudi Arabia get their medicines earlier.
EF: What is special about your portfolio that you're bringing, and what do you see in the future as a decision-maker on what the future of Saudi AbbVie will look like?
AD: AbbVie is a highly specialized company. Our expertise lies in adding value to patients, particularly those suffering from complex and hard-to-treat diseases. These patients' conditions significantly impact their ability to lead normal, fulfilling lives. This is where we truly make a difference.
Our specialization in immunology allows us to treat diseases where the immune system plays a major role. Immunology is a fascinating field because it deals with the body's immune response, which can be underactive or overactive. To treat these diseases, we use immunosuppressants, which help manage the body's immune response, reducing unnecessary attacks on healthy cells without leaving the body vulnerable to infections. Finding the right balance in immunology is key, and we're proud of our role in this area.
One of our flagship products has been the top-selling product for the past 15 years. And we have continued to develop more advanced therapies focused on enhancing the patient’s experience. For example, we've made great strides in patient convenience by reducing the injection frequency from every two weeks to once every three months. In immunology, we have two treatments in our portfolio that represent significant advancements in targeted immunotherapy, providing patients with more precise and effective options for managing chronic inflammatory conditions.
We are also focusing on oncology, particularly blood cancers, and have recently expanded into solid tumors and specifically ovarian cancer through a strategic acquisition. In addition, we've entered the eye care field with our acquisition of Allergan, aiming to improve eye care.
EF: Do you have any final words you want to add?
AD: As Saudi Arabia goes through this transformational phase in its healthcare system, whether through standardization or advancements, it's crucial to truly understand the country's needs during this period. Our role is to support this transformation and help guide it in a way that benefits everyone involved. This is a sustainable opportunity for us, but building a sustainable business model focusing on leadership and talent management is also essential. We must ensure initiatives are in place to develop local Saudi talent, enhance leadership skills, and prepare the next generation for professionalism. As you mentioned, effectively integrating AI and digital tools is key to this transformation. These changes will help increase speed and agility, but talent development is at the heart of it all.
Building a strong local workforce with a collaboration of educational institutions and private sectors to create a steady pipeline of skilled talent; not just any talent, but the right talent with the specific skills needed to manage the future. We must focus on continuous improvement, offering professional development opportunities through workshops, certifications, and partnership programs like MOUs. This ensures the team is equipped with the knowledge and skills to thrive. Focusing on these areas can provide a sustainable future for Saudi Arabia.
EF: If you had to give one piece of advice on how to manage periods of growth to other executives, what would it be?
AD: Growth is the key KPI for me. There's a saying on Wall Street: you need to set a goal, and once you achieve it, you've succeeded. Whether it's a specific target or a benchmark, that goal is something you define yourself. And, honestly, it's no surprise if you exceed it. That's just part of the game if you're outpacing your targets. For me, growth is about staying ahead of the market. You don't own the market; it is comprised of many players, and one can't control its growth. Growth is about staying ahead of the competition. I want to stay ahead of the fastest-growing players in the market. If someone outpaces your targets with fewer resources, that's a call to action to review the value proposition.
