By Staff writer
Drugmaker starts generic production locally after deal to buy 66% of Globalpharma from Dubai Investments
French drugmaker Sanofi has announced the start of the first phase of generic production in the UAE through Globalpharma.
The announcement comes after Dubai Investments sold a 66 percent equity stake in its wholly owned pharmaceutical unit to an investor group led by Sanofi.
Globalpharma is being integrated as a Sanofi company to become the platform to manufacture and promote the generics portfolio of Sanofi in Middle East markets, a statement said.
The wide portfolio will include anti-infective, cardiovascular and gastrointestinal products, it added.
Dr Amin Hussain Al Amiri, assistant Undersecretary for Public Health Policy & Licensing Sector at UAE Ministry of Health, said: "The healthcare landscape in the UAE is fast evolving and we are working closely with pharmaceutical companies to make UAE the regional hub, which will positively impact the supply, distribution and pricing of drugs.
"The integration of Globalpharma as a Sanofi Company is a landmark milestone in the regional pharmaceutical landscape and will serve the needs of the industry in an effective way."
Antoine Ortoli, senior vice president - intercontinental global operations at Sanofi added: "Acquiring a significant stake in Globalpharma is in line with our global objective to expand our footprint through innovative business models.
"Our combined strong geographical presence and portfolios in specific therapeutic areas will enable us to broaden our reach and strengthen our presence in the generics market, providing more patients with high quality, affordable medications."
Sanofi said it will bring to Globalpharma its knowledge in industrial development and manufacturing and together with the local Globalpharma team will drive all technology subjects and implementation focused on patients' needs.
Khalid Bin Kalban, managing director and CEO of Dubai Investments, said: "We are excited about this integration of Globalpharma as a Sanofi company which will go a long way in building the company's capabilities in the region.
"This divestment of shares with Sanofi is a major step forward in strengthening the company's market leadership through a differentiated and specialty-driven generics portfolio, bringing together the strong reputation of Globalpharma and the global expertise of Sanofi, and tailored to meet the needs and demands of the regional healthcare industry."
Globalpharma currently manufactures and markets pharmaceutical products in more than 14 countries across the Middle East.
Sanofi said earlier this month that it has alerted US authorities about allegations of bribery activity in the Middle East and Africa.
In a statement, the Paris-based firm said the allegations had come from an anonymous source alleging "improper payments in connection with the sale of pharmaceutical products from 2007 to 2012" in certain parts of the region, without elaborating.
The company said it has notified the US Department of Justice and the Securities and Exchange Commission, adding that an investigation is ongoing and may take “some time” to complete, given the alleged activity dates back several years.