Today's Edition
AMEINAH ALZEYOUDI (ABU DHABI)
A recent research paper prepared by the Interregional Center for Strategic Analysis in Abu Dhabi said that the UAE topped the list of regional and global countries promoting the local pharmaceutical industry, thanks to the significant increase in spending on healthcare. The study stated that the state's interest in this sector comes within the framework of the global momentum witnessed by the pharmaceutical industry, which is worth more than $1.6 trillion. The study highlights Abu Dhabi pharmaceutical sector's prominent role in national production, as its contribution amounted to about 27% of the total production in the country in 2021. The value of production in the pharmaceutical sector in Abu Dhabi in the same year amounted to about $284 million. According to the study, Abu Dhabi is adopting an ambitious strategy to support and enhance the competitiveness of the pharmaceutical sector, as it seeks to invest Dh10 billion by 2031. The strategy also aims to increase non-oil exports by 148% to Dh178.8 billion and provide 13,600 new jobs. The center said that Mubadala Investment Company signed an agreement in March 2024 to acquire KELIX Bio, a company specialising in providing advanced generic medicines in emerging markets, which enhances the country's ability to develop the pharmaceutical industry system. The study observes that the pharmaceutical industry is a key driver of economic growth and diversification of industries in the UAE, which prompted the country to invest heavily in establishing research centres and modern pharmaceutical factories. The country provides incentives to local and foreign investors in this field, which enhances the UAE's position as a regional centre for the pharmaceutical industry and attracts foreign direct investment. Data from the organising committee of the Dubai International Pharmaceuticals and Technologies Conference and Exhibition (DUPHAT) 2024 showed that the number of pharmaceutical factories in the UAE exceeds 35 with over 2,500 locally produced medicines. The Dubai Science Park, affiliated with (TECOM Group), also includes several of the most prominent companies in the global pharmaceutical sector, such as AstraZeneca, BeiGene, Pfizer and Virax Biolabs, which reflects the great progress achieved by the UAE in the field of pharmaceutical manufacturing.
