Promomed, a Russian biopharmaceutical company, Ogarev Mordovian State University, and the Al Riyadh Group, a company based in the Kingdom of Bahrain, signed a trilateral memorandum of understanding (MoU) at the 28th St. Petersburg International Economic Forum (SPIEF-2025). The parties agreed to collaborate on developing pharmaceutical production, training scientific and industrial personnel, and supplying vital drugs to Al Riyadh Group’s distribution network, which operates across the Middle East, Africa, and Latin America.
The main areas of the planned cooperation will be the creation of an R&D Hub for research and development of high-tech medicines, as well as the launch of local production of innovative drugs based on modern Russian technologies.
The partnership also plans to train highly qualified personnel for the pharmaceutical industry in the region and develop an online platform for cross-border drug orders and verification of their authenticity.
As noted by Her Highness Sheikha Dheya bint Ebrahim Al Khalifa, President of the Al Riyadh Group, the strategic partnership with Russia will expand access to innovative biopharmaceutical products in the Middle East and North Africa region, as well as improve patient treatment outcomes.
According to Pyotr Bely, Chairman of the Board of Directors of PAO Promomed, new strategic allies from the Riyadh Group of companies will help the Russian company achieve its strategic goal of increasing export revenue to 15% by 2032. He said that Promomed’s export sales increased by 56% in 2024.
In 2024, Russian Minister of Health Mikhail Murashko and Dr. Abdullatif bin Rashid Alzayani the Minister of Foreign Affairs in the Kingdom of Bahrain signed a memorandum of understanding between the two countries in the presence of Russian President Vladimir Putin and Hamad bin Isa bin Salman Al Khalifa, the King of Bahrain. In 2019, it was reported that Russia and Bahrain intend to start cooperation in the supply of medicines.
