The Public Investment Fund (PIF) has established Badael Company, which aims to reduce the prevalence of smoking in Saudi Arabia and promote a healthier lifestyle
The company plans to release tobacco-free nicotine delivery products by the end of 2023 and will be manufactured in Saudi Arabia.
Badael's products will aim to help nearly one million people switch from smoking by 2032 and are expected to deliver direct annual savings of more than SAR6 billion ($1.6 billion) on healthcare expenditure.
The company also aims to support domestic manufacturing, sourcing raw materials, knowledge transfer, and development of intellectual property (IP) and create new economic opportunities and jobs.
The company also aims to support domestic manufacturing, sourcing raw materials, knowledge transfer, and development of intellectual property (IP) and create new economic opportunities and jobs.
