Dubai Science Park (DSP) has become the new home to the first pharmaceutical manufacturing plant in Dubai. Operated by Pharmax Pharmaceuticals (Pharmax), the US$34mn plant will produce more than 200mn tablets and medicines to cater towards the growing number of lifestyles diseases and chronic conditions which have grown in number in recent years. The first batch of treatments will be on sale in January.
“Our region currently imports more than 80% 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,” stated 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.
“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.”
Also part of Dubai Plan 2021, pharmaceutical manufacturing is a key pillar in which the city is looking to increasingly innovate through technology, providing a boost its industrial, research and development capabilities, as well as entice investors to transform Dubai into a centre of excellence. the move will also enable further employment opportunities for local citizens and reduce its dependence on foreign imports.
“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,” added Madhukar Tanna, Chief Executive Officer of Pharmax. “The support the business has received from Dubai Science Park, the Ministry of Health and Prevention, and local health authorities has been vital to the official inauguration of the Pharmax factory.
“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.”