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United Arab Emirates Pharmaceuticals and Healthcare Report Q4 2009
Business Monitor International, Sep 2009, Pages: 99
The United Arab Emirates Pharmaceuticals and Healthcare Report provides industry professionals and strategists, corporate analysts, pharmaceutical associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on the United Arab Emirates' pharmaceuticals and healthcare industry.
For the UAE Q409 Pharmaceuticals and Healthcare Report, the author expects the total drug market to increase in value from US$853mn in 2008 to US$1.36bn by 2013, representing a compound annual growth rate (CAGR) of 9.8% in US dollar terms. By 2013, drug spending will account for 0.42% of GDP, only a CAGR of 3.8% since 2008.
In August 2009, UAE-based drugmaker Gulf Pharmaceuticals Industries (Julphar) opened a subsidiary laboratory in Senegal, with a view to manufacturing drugs at affordable prices. The author notes that this expansion will provide a new market for Julphar’s products, particularly in Francophone Africa. The decision to locate in West Africa highlights the fact that the drugmaker is targeting emerging markets that have a demand for its core therapeutic areas, including chronic kidney diseases and diabetes. Moreover, the firm is interested in developing business relations within French-speaking Africa. Senegal is highly reliant on imported pharmaceuticals, with most drugs coming from France, India, Morocco and China. A United Arab Emirates firm has invested over US$5.2mn in Indian pharmaceutical manufacturer Anjan Drugs. The funds from Evolvence Capital’s Indian investment division, the Evolvence Lifestyle Fund (EILF), are a welcome step toward securing UAE interest in Indian pharmaceuticals.
EILF stated that its interest in Indian pharmaceutical firms is a long-term commitment, with its US$5.2mn spend on Anjan expected to see positive returns. EILF revealed that it is also targeting Indian drugmakers which export to the US. Notably such firms will have GMP and international accreditation, as well as US Food and Drug Administration (FDA) approval. Other Indian drugmakers should note that securing Middle Eastern investment will provide a greater incentive for Middle East and African (MEA) countries to accept Indian drugs. While targeting the US healthcare market is a lucrative option, pharmaceutical firms that are hoping to expand into emerging markets will be advantaged by interest from the Middle East.
Multinational biotechnology firm Amgen may be considering further expansion within the Middle East. The announcement came from the Dubai Biotechnology and Research Park (DuBiotech) after preliminary discussions had been conducted with the firm during August 2009. DuBiotech is Amgen’s Middle Eastern, African and Turkish operations headquarters. The expansion is believed to be aimed at securing a stronger position through collaborative partnerships within the region, particularly with regard to clinical trials and research.
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