UAE-based Pharmax Pharmaceuticals launches operations out of its new facility located in Dubai Science Park
UAE-based Pharmax Pharmaceuticals has begun production out of its new AED125 million ($34 million) facility located in Dubai Science Park.
The custom-built factory is the first advanced manufacturing facility to be opened in Dubai Science Park and is equipped with the latest European technology, meeting stringent global regulatory standards, the company said in a statement.
The factory has a current annual capacity of over 200 million tablet and capsule dosage forms, which will increase in the next three to five years to over 800 million, it added.
Pharmax said it will produce medications targeting chronic conditions common in the Middle East and other developed markets, including cardiovascular diseases, psychiatric and neurological disorders, gastroenterological diseases, metabolic disorders such as hyperlipidemia and diabetes, central nervous system diseases, bacterial and viral infectious diseases, respiratory illnesses, asthma and allergies, bone and joint inflammation disorders and urological diseases.
Already employing over 40 staff, plans are for Pharmax to add more than 15 positions in the coming months.
Construction of the facility began in September 2015 as a joint venture between Al Ittihad Drug Store, a distributor of medicines in the UAE, and two of the largest pharmaceutical manufacturing companies in Morocco - Cooper Pharma and Bottu Pharmaceuticals.
Madhukar Tanna, CEO of Pharmax, said: “Now is the perfect time for Pharmax Pharmaceuticals to launch in the region. Dubai Plan 2021 highlights pharmaceutical manufacturing as a key development sector and the UAE needs more high-quality generic medications.
“We have received very positive support from the Ministry of Health and Prevention and local health authorities for our work here at Pharmax.”
He added: “Expansion is definitely planned for Pharmax Pharmaceuticals – we even own a similar sized plot right next to our flagship facility with this in mind. Beyond the Middle East, our medications will soon be made available in Europe, Asia and Australia.”