Dubai, United Arab Emirates - Tuesday, October 8th 2013 [ME NewsWire]
Pharmaceutical Research and Manufacturers of America (PhRMA) today announced plans to establish its Middle East and Africa regional office within DuBiotech, a free zone dedicated to facilitating and fostering the growth of the life sciences industry in the UAE and a member of world class developer and operator of business parks, TECOM Investments.
The GCC countries have the highest levels of imported medicines in the world. Over 80% of drugs required in UAE are manufactured internationally while healthcare expenditure in the GCC region is expected to swell to $79 billion by 2015. By attracting long-established bodies such as PhRMA to UAE, DuBiotech aims address the imbalance of over-reliance on imported drugs by stimulating the innovation and manufacture of locally produced medicines through strategic collaboration and knowledge sharing.
PhRMA was formed in 1958 to represent America’s leading biopharmaceutical researchers and biotechnology companies. It focuses on advocating for public policies that encourage the discovery of life-saving and life enhancing new medicines for patients by biopharmaceutical companies. PhRMA’s member companies spent an estimated $48.5 billion in 2012 to discover and develop new medicines, 300 of which have been approved by the U.S. Food and Drug Administration in the last decade.
Marwan Abdulaziz Janahi, Executive Director of DuBiotech said: "We are delighted to welcome PhRMA as a new partner in the DuBiotech freezone. The organization brings unrivalled expertise, experience and knowledge of the pharmaceutical and innovative medicine and that is exactly the area of the industry we are trying to kick start in Dubai.
"The hybrid of technical expertise and community infrastructure found within our business park coupled with the proximity to strategic markets, domestic growth potential, improvements in regulations and close connectivity to Government have proved to be the key drivers of growth for DuBiotech and indeed the wider sciences cluster.”
Jonathan Kimball, PhRMA Deputy Vice President for Middle East and Africa, said: "PhRMA is excited to announce that we plan to open our Middle East & Africa Regional office in Dubai. We are pleased that the office will be headed by Samir Khalil, PhRMA’s Executive director for Middle East and Africa, who brings more than 30 years of industry expertise to the region. Dubai is a natural place to establish our office as the UAE health authorities have developed a robust advanced health sector and services in the country that provide its citizens and residents with quality care and access to medicines.
"The long-term vision, investment and innovation policies of the UAE over the last several years encouraged the global innovative medicines industry to bring regional operations into the UAE. Most of PhRMA member companies have established their Middle East & Africa Regional offices and operations in Dubai. PhRMA is in the process of establishing its Regional office in Dubai to be close to its member companies.
"We believe the UAE offers tremendous potential for growth for the biopharmaceutical industry as the UAE rise as a serious global competitor in the life sciences sector.”
In 2012, DuBiotech witnessed exceptional growth, issuing 40 new commercial licenses’ in comparison to 21 in 2011. This reflects a year-on-year increase of 50 per cent, taking the total number of companies based in the free zone to 126. The business center is also now 100 per cent occupied with a mix of both multinational and small and medium sized firms. DuBiotech offers the following services to organisations based in the freezone to help both start-ups and international firms set up and achieve their respective commercial targets:Regulatory affairs management; partnership development; registration and licensing; leasing and government services.
NOTES TO EDITORS
About DuBiotech
Dubai Biotechnology and Research Park (DuBiotech), a member of TECOM Investments, is a free zone business park dedicated to fostering the growth of the life sciences industry in the region. DuBiotech was established to support the Government of Dubai’s vision to transform the UAE into a knowledge-based economy and develop the region’s talent pool.
DuBiotech offers world-class infrastructure and cutting edge research and development facilities, specifically designed and built for the field of biotechnology, pharmaceutical, medical and scientific device, food and agricultural industries. The free zone can support both start-ups and international firms looking for a regional base for their Middle East or global operations. The park is central to a community that is committed to the industry’s success by bringing together business, regulators and Government in partnership.
Since its launch in 2005, DuBiotech has rapidly grown into a community of 140 life sciences companies such as Pfizer, Genzyme, Merck-Serono, Amgen, Bristol-Myers Squibb, Maquet, National Reference Lab, Firmenich and IFF.
About PhRMA
Contact: Mark Grayson (202) 835-3460
The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading innovative biopharmaceutical research and biotechnology companies, which are devoted to discovering and developing medicines that enable patients to live longer, healthier, and more productive lives. Since 2000, PhRMA member companies have invested approximately $550 billion in the search for new treatments and cures, including an estimated $48.5 billion in 2012 alone.
Find PhRMA Online:
Website – http://www.phrma.org
Facebook – www.facebook.com/PhRMA
Blog – www.phrma.org/catalyst
Twitter – www.Twitter.com/PhRMA and www.Twitter.com/PhRMApress
YouTube – www.youtube.com/PhRMApress
For information on how innovative medicines save lives, visit: http://www.innovation.org
For information on the Partnership for Prescription Assistance, visit: http://www.pparx.org
For information on ensuring the flow of medicines during public health emergencies, visit http://www.rxresponse.org
Contacts
MEDIA –
Layla Haroon,
Bell Pottinger Middle East
+971 55 636 0425
Nicola Hooper, Bell Pottinger
+971 558862254
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