Dubai real estate price analysis, traffic fines explained, game-changing property finance and more top stories this week
pharmacy
Latest in pharmacy
antibiotic medicine
EXCLUSIVE: Pfizer recalls bacteria-fighting antibiotic Zithromax from UAE market
Popular antibiotic that is used to fight STIs, skin and respiratory infections vanishes from pharmacy shelves as Pfizer works to resolve ‘manufacturing’ issue
Pharmaceutical
UAE introduces new medical and pharmaceutical laws with fines of up to $272,000
UAE issues laws to regulate medical products, the pharmacy profession, and pharmaceutical establishments
DUPHAT
DUPHAT 2024: Dubai pharmacy exhibition sees $2.3bn of deals
Dubai pharmacy exhibition records record-breaking $2.3bn of commercial deals
Kuwait
Kuwait halts private pharmacy licences as it sets up psychotropic medication registry
Kuwait has temporarily suspended the issuance of private pharmacy licences
online pharmacy
PureHealth announces UAE digital pharmacy
PureHealth’s Dawak digital pharmacy allows people in the UAE to order and manage medication online
Abu Dhabi
UAE pharmacy faces prosecution for giving out wrong drugs to customers
The pharmacy reportedly did this in order to receive money from financial claims covered by insurance companies
GCC IPO activity
Saudi’s largest retail pharmacy chain sees 1.09 million investors subscribing to invest $1.8 billion for the retail tranche of its IPO
The final offer price for the Nahdi Medical Company’s IPO has been set at SAR 131 per share, implying a market capitalisation at listing of $4.54 million
GCC IPO activity
Saudi’s biggest pharmacy retailer to mark largest Saudi IPO since Aramco with top end price listing
Nahdi Medical Co. said it will sell shares at 131 riyals ($34.92) apiece after the institutional part of the offering ended. At that price, the company is set to raise $1.36 billion
IPO
Saudi Arabia’s Nahdi Medical seeks primary healthcare expansion as IPO plans continue
Nahdi may start using its pharmacies across Saudi Arabia to start offering primary healthcare services
GCC IPO activity
Saudi billionaire’s investment firm plans IPO of top drugstore
Al Nahdi Medical plans to float 30% of the company on the Saudi stock market
Gulf Marketing Group
Conglomerate GMG plans UAE healthcare expansion after Covid ‘paradigm shift’
Gulf Marketing Group’s health vertical on track to grow retail footprint in the UAE by more than 40% by the end of 2022