Dubai-UAE: 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 science-focused business community.
The opening ceremony drew the participation of His Excellency Dr Amin Hussain Al Amiri, Assistant Undersecretary of Public Health Policy & Licensing at the Ministry of Health and Prevention, Dr Younis Kazim, Chief Executive Officer of Dubai Healthcare Corporation, Malek Al Malek, Group CEO of TECOM Group, Ahmad Tabari, Chairman of the Board of Directors at Pharmax, Lamia Berrada, Chairman of the Managing Board at Bottu Pharmaceuticals and Ayman Cheikh-Lahlou, Chief Executive Officer at Cooper Pharma.
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, state-of-the-art infrastructure, proximity to emerging markets, and a favourable policy framework present us with a unique opportunity to enhance our domestic manufacturing capabilities.”
He added: “We have worked closely with The Executive Council of Dubai and colleagues on the Pharmaceuticals and Medical Equipment Taskforce to achieve tangible results that support Dubai’s economic ambitions. The inauguration of the Pharmax manufacturing plant marks the first significant milestone in our efforts. We are delighted to welcome our business partner to our vibrant community of more than 350 companies and 3,600 industry professionals.”
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.”
He added: “We are now able to locally produce medication for cardiovascular diseases, psychiatric and neurological disorders, gastroenterological diseases, metabolic disorders such as hyperlipidaemia and diabetes, central nervous system diseases, bacterial and viral infectious diseases, respiratory illnesses, asthma and allergies, bone and joint inflammation disorders, and urological diseases. This will significantly reduce the dependence on imports of related products from abroad.”
Pharmax Pharmaceuticals is already making a positive contribution to the local economy – directly through job creation, and indirectly through helping Dubai become less reliant on foreign imports and demonstrating to other pharmaceutical companies that the emirate is a profitable and strategic location for their plants.
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.
About Dubai Science Park
Founded in 2005, Dubai Science Park (DSP) is a vibrant, holistic community dedicated to supporting entrepreneurs, SMEs and MNEs active in the sciences, energy and environmental sectors. With its ample office and laboratory space and robust infrastructure, DSP has created an enabling science-focused ecosystem that is home to more than 350 companies, employing over 3,600 professionals.
Through fostering growth, creativity, research and innovation in the areas of human science, plant science, material science, environmental science and energy science, DSP aims to play a significant role in facilitating a more sustainable and self-sufficient future that maximises the use of indigenous resources and talent.
For more information, please visit www.dsp.ae
About Pharmax Pharmaceuticals
Pharmax Pharmaceuticals FZ-LLC (Pharmax) provides access to affordable, branded generic medication equivalent to brand-name alternatives. Committed to exceeding the expectations of healthcare providers, practitioners and patients, the company offers a diverse range of medications across a wide spectrum of therapeutic areas. Headquartered in Dubai, United Arab Emirates, Pharmax is a GMP-licensed international manufacturer and distributor of high-quality medications into most regulated markets globally. The company is committed to maintaining a culture of quality, and its state-of-the-art facility meets stringent local and global regulatory standards. www.pharmax.ae.
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© Press Release 2018