Pharmax Pharmaceuticals opens aed 125Mn Production Facility in Dubai Science Park
Dubai Science Park (DSP), a holistic 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), a pharmaceutical company that will produce a wide range of medications from the sciencefocused business community.
As the first advanced facility at the sciencefocused business community, the AED125 million plant with an annual production capacity of over 200 million tablet and capsule dosage forms is dedicated to the manufacturing and commercialisation of pharmaceuticals that target chronic conditions prevalent in the Middle East. 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 per cent of pharmaceuticals from abroad. At the same time, technological advancements, an increase in R&D capacities and talent availability, stateof-the-art infrastructure, proximity to emerging markets, and a favourable policy framework present us with a unique opportunity to enhance our domestic manufacturing capabilities.”
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. Positive forecasts predict that an increase in industrial capabilities will add AED160 billion (US$43.5 billion) to Dubai’s GDP, with the industrial sector growing by AED18 billion (US$4.9 billion). Furthermore, the plan is expected to significantly enhance the UAE’S R&D capacities while adding 27,000 specialised jobs and AED15.8 billion (US$4.3 billion) to the country’s export sheet.
Speaking about the new manufacturing facility, Madhukar Tanna, Chief Executive Officer of Pharmax, said: “We are proud to be part of DSP’S vibrant business community, and are confident that now is the perfect time to launch Pharmax in the region. Our company is fully aligned with the Dubai Industrial Strategy 2030 that, among other objectives, seeks to reduce the country’s reliance on imports of pharmaceutical products. The support the business has received from Dubai Science Park, the Ministry of Health and Prevention, and local health authorities has been vital in reaching today’s milestone – the official inauguration of the Pharmax factory.”
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.