Phar­max Phar­ma­ceu­ti­cals opens aed 125Mn Pro­duc­tion Fa­cil­ity in Dubai Sci­ence Park

Logistics News Middle East - - Regional News -

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.

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