U.A.E. – First Pharma Plant breaks ground at DuBiotech

January 22, 2013 2:29 pm0 commentsViews: 115

HE Dr Salem Al Darmaki, Acting Undersecretary of the UAE Ministry of Health led the ground-breaking ceremony for Pharmax Pharmaceuticals’ new manufacturing facility at the Dubai Biotechnology and Research Park (DuBiotech).

Pharmax Pharmaceuticals is a wholly-owned subsidiary of Ittihad Drug Store, pharmaceutical distributor in UAE.   Pharmax will develop the AED 40 million manufacturing facility over an area of 90,000 square feet. The custom-built facility will mark the company’s expansion into growing regional pharmaceutical markets while signalling the first pharmaceutical production unit at DuBiotech.

The new factory will conform to the latest US FDA and EU guidelines, in addition to meeting the regulatory standards for GMP (Good Manufacturing Facility) as mandated by the UAE Ministry of Health. It will also be fitted out with modern automated and semi-automated equipment, quality control laboratories and warehouses.

In completion of the of the state-of-the-art facility, Pharmax will produce oral solid dosage products including tablets and capsules for treating conditions such as diabetes, hyperlipidemia, hypertension, peptic ulcers, psychiatric conditions, neurological  and respiratory tract disorders.

“We are pleased to support the expansion of a home-grown pharmaceutical company in the UAE. We believe that such growth will encourage other indigenous companies to expand their operations. This is particularly important to make the UAE market less reliant on imported pharmaceutical products. We hope to see more growth in this sector, especially for drugs for chronic diseases such as diabetes and hypertension,” said HE Al Darmaki.

Mr. Ahmad Tabari, Group CEO and Managing Director of Pharmax, said: “We are pleased to become a part of DuBiotech. The free zone has facilitated the fruition of one of our ambitious goals to set up a state-of-the-art production unit. We are currently in advanced stages of negotiation with leading companies in the region for the transfer of technology towards the execution the project. Our new location will give us the opportunity to engage and share market experience with our industry peers and beneficiaries.”

Pharmax Pharmaceuticals’ new manufacturing unit comes in response to the rising demand for quality pharmaceutical products in the UAE and the Middle East, driven by the increased government spending in healthcare to cater to a growing population and an improved understanding of illnesses.220120131321

 

Marwan Abdulaziz, Director of Business Development at DuBiotech, said: “Pharmax’s step to set up the production facility at DuBiotech takes the national bio-pharmaceutical sector in the UAE to the next level. We are pleased to host a home-grown company within our portfolio and look forward to witnessing more such developments in this segment.” Due to the improved quality of generic products produced in the region and the consequent affordability that they generate for the long-term management of illnesses, more and more governments, insurance companies and the general public is demonstrating an increased acceptance for locally manufactured drugs. As per industry reports by IMS, generic pharmaceutical products are set to expand their market share from 10-12% to 30% over the next five to ten years.

[by Joumana Saad - http://www.smeadvisor.com]

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