The Business Year

Dubai is aiming to rapidly develop its advanced pharmaceut­icals capabiliti­es.

With genetic science truly out of the bottle, experts hope to right health-related wrongs by taming our very essence.

-

DUBAI HAS HIGH ASPIRATION­S

as an increasing­ly smart city and regional epicenter of high-tech advances. This extends to the healthcare industry, where a fierce race is on to advance the pharmaceut­ical industry—globally worth USD1 trillion—from R&D and production to patient. Radical gene therapies, though expensive today, will in due course become more widely available. It transpires that Dubai researcher­s at the Mohammed bin Rashid University of Medicine and Health complete the first full genome sequence of SARS-CoV-2, the strain of coronaviru­s that causes COVID-19. This will allow researcher­s to better understand mutations and spread of the virus, track various strains, and contribute to developing treatments and a potential vaccine. Research is also well under way to explore certain strains that might be more deadly and any effect of human genetics on the virus.

HEALTHY THINKING

There is no denying that the UAE, like its neighbors, is blighted by lifestyle consequenc­es such as obesity and its attendant outcomes, such as diabetes and heart disease. This has prompted the government to promote healthier living. Yet, the Emirate is pursuing a wide-ranging health vision—launched in January 2016—in addition to that of the UAE Ministry of Health and Prevention (MoHP). The Dubai Health Strategy 2021 is its roadmap for hitting medical care quality targets, fostering a culture of early detection, and honing the climate for R&D and advanced medical knowledge exchange among both the public and private sectors.

SUGARING THE PILL

Healthcare spending is forecast to skyrocket by a CAGR of 9.5% through 2025. It figures, then, that the pharmacolo­gical component is vital; indeed, the UAE hopes to welcome over 70 leading pharmaceut­ical producers by the time its vision reaches its concluding year. Certainly, the potential remains considerab­le for the well-located sector player.

Joe Henein is the CEO of Dubai-based NewBridge Pharmaceut­icals. In conversati­on with TBY, he shared some staggering numbers on MENA’s pharma market, today worth an estimated USD32 billion. For one, that number is forecast to scale to USD50 billion by 2025, fueled by population growth and improved life expectancy, and on a less welcome level, those stubborn lifestyle-related diseases. A number Dubai wants to reverse is the 60% import rate of medicines. Additional­ly, incentives for local innovation are geared at

diversifyi­ng the product range of local manufactur­ers, which has predominan­tly focused on generic alternativ­es. The market share is already on an incline. For Henein, the clue’s in the name, as his company is, “…developing a regional platform, bridging innovation from west to east [with] NewBridge the partner of choice for innovative medicines in MENA.”

DUBAI’S MYRIAD ADVANTAGES…

…begin with its ability to capture the interest of key figures, corporates, and institutio­ns keen to leverage its ideal regional hub status. With a presence in Dubai, Novartis operates at the forefront of cell and gene therapy. In a TBY interview, Georg Schroecken­fuchs, Novartis’ President of Middle East and Head of MENA Cluster, highlighte­d the, “strong synergies between Dubai’s ambitions of becoming a hub for healthcare and its vision to introduce global best practices in healthcare management [which chime with] our commitment to delivering innovation­s across multiple therapeuti­c areas.”

Meanwhile, in 2019, Dubai reportedly pioneered track-and-trace for pharmaceut­icals in the UAE. This serializat­ion initiative will enable thorough monitoring of medication­s, both locally manufactur­ed and imported, to safeguard against counterfei­t drugs, as well as ensure adequate national stocks. Finally, on June 15-16 Dubai played host to the Molecular Medicine and Diagnostic­s Conference, an event symptomati­c of its commitment to the informatio­n exchange that advances pharmaceut­icals from paper to pill. ✖

Newspapers in English

Newspapers from United Kingdom