Dubai Science Park, a science-focused business community dedicated to the development of the local healthcare sector, has welcomed the inauguration of its first pharmaceutical manufacturing plant.
Operated by Pharmax Pharmaceuticals (Pharmax), the AED125 million ($34 million) factory will have an annual production capacity of over 200 million tablet and capsules.
Pharmax said it is dedicated to the manufacturing and commercialisation of pharmaceuticals that target chronic conditions prevalent in the Middle East.
It added that the factory is equipped with the latest European technology, meeting stringent global regulatory standards.
Marwan Abdulaziz Janahi, managing director of Dubai Science Park and chairing member of the Pharmaceuticals and Medical Equipment Taskforce of the Dubai Industrial Strategy 2030, said: “Our region currently imports more than 80 percent of pharmaceuticals from abroad.
"At the same time, technological advancements, an increase in R&D capacities and talent availability, state-of-the-art infrastructure, proximity to emerging markets, and a favourable policy framework present us with a unique opportunity to enhance our domestic manufacturing capabilities.”
He added: “The inauguration of the Pharmax manufacturing plant marks the first significant milestone in our efforts. We are delighted to welcome our business partner to our vibrant community of more than 350 companies and 3,600 industry professionals.”
Established in 2016, the Dubai Industrial Strategy 2030 has identified the pharmaceuticals and medical equipment sector as one of six strategically important sectors for Dubai’s economy.
Madhukar Tanna, CEO of Pharmax, said: “We are now able to locally produce medication for cardiovascular diseases, psychiatric and neurological disorders, gastroenterological diseases, metabolic disorders such as hyperlipidaemia and diabetes, central nervous system diseases, bacterial and viral infectious diseases, respiratory illnesses, asthma and allergies, bone and joint inflammation disorders, and urological diseases.
"This will significantly reduce the dependence on imports of related products from abroad.”
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.
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