UAE pharma firm invests $27m in Japanese factory

Neopharma also invests millions in patents and licences as it looks to produce supplements for diabetics
Dr BR Shetty, chairman and managing director, Neopharma.
By Staff writer
Sat 27 May 2017 01:16 AM

A UAE-based pharmaceutical manufacturing company has invested a total of AED100 million ($27 million) in a new factory in Japan.

Neopharma also said in a statement that it has invested AED265 million in the acquisition of patents and licences and an additional investment in clinical studies amounting to AED515 million.

The factory in Japan will manufacture supplements for patients in the pre-diabetic stage and also Type II diabetic patients, the statement said.

Neopharma Japan said it has acquired a 65 percent stake in the Japanese pharmaceutical company, Cosmo ALA (now known as Neo ALA), to manufacture this dietary supplement.

More than one million people in the UAE have diabetes and nearly 450,000 are estimated to be undiagnosed cases, the company said.

Dr BR Shetty, chairman and managing director, Neopharma, said: "Obesity is a growing concern in many nations in the Middle East as approximately a third of adults are now obese and diabetes and other weight-related diseases are becoming serious public health issues.

"The diabetes epidemic is largely focused on massively increased rates of obesity in the region. Obesity when left unchallenged, leads to pre-diabetes or metabolic syndrome. Either of these conditions, if not swiftly acted against, can lead to the development of full-blown Type 2 diabetes."

The World Health Organisation (WHO) predicts that diabetes will become the seventh major cause of death around the world by 2030. Nearly 422 million people are diabetic worldwide with this figure expected to spiral to 642 million by 2040.

In the Middle East, 35.4 million suffer from diabetes and by 2040, the number is estimated to surge to 72.1 million.

Neopharma said its factory in Japan has started the production to meet the ever-growing needs of the Type 2 diabetes patients in the GCC region and across the globe.

For all the latest health tips & news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Last Updated: Tue 30 May 2017 01:07 PM GST

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.