Saudi health ministry fines pharmaceutical company for violating breast milk substitutes law
Pharmaceutical industry
healthcare industry
Oman plans new global vaccine, drug development factory: Report
This landmark achievement positions Oman as a significant player in the global pharmaceutical industry
biotech
Saudi wealth fund PIF establishes Lifera to supercharge pharma manufacturing in the kingdom
The move is part of Saudi Arabia’s efforts to reduce its dependence on oil
Biopharmaceuticals
Mubadala and Resilience to build biopharma manufacturing facility in Abu Dhabi
A first-of-its-kind facility in the region to manufacture life-saving drugs; Mubadala has invested in several equity rounds of Resilience
conference and exhibition
DUPHAT 2023 expects record attendance from 82 countries
The 3-day annual event will bring together top regional and international experts, specialists, and industry executives in the sector to discuss the future of the profession and how to continuously improve it
Amgen
Amgen acquires Horizon Therapeutics in biggest pharma deal of the year
Total value of the acquisition is $27.8 billion; Amgen to pay a 20 percent premium with the agreed price of $116.5 per Horizon share
air freight
Etihad Cargo stays at the forefront of pharma logistics with key recertification
PharmaLife, its dedicated pharmaceutical transportation product, undergoes an intensive audit from IATA’s Centre of Excellence for Independent Validators
AstraZeneca
AstraZeneca opens a manufacturing JV with the pharma industry body in Saudi Arabia
The new factory of hazardous drugs is located on an area of 2800 square meters at a total cost of 272 million riyals
AI in healthcare
Pfizer extends its faith in CytoReason for AI-driven drug discovery
The partnership would be worth up to $110m over the next five years, including a $20 million equity investment in CytoReason’s computational models
Axios International
DIHAD Foundation, Axios International partner to provide medical supplies globally
The partnership is aimed at improving access to innovative treatment and medicines for low-income communities around the world
biomedical research
Saudi Arabia to invest $3.4 billion into vaccines and vital medicines
The kingdom wants to achieve pharmaceutical and health security, and make Saudi Arabia an ‘important centre for this promising industry’
Abu Dhabi
Abu Dhabi’s ADQ acquires Turkish pharma producer to boost UAE’s ability to manufacture health products
Turkey’s BMG, which specialises in freeze drying, is a production service provider for sterile injectable products, including vials and pre-filled syringes used for vaccines
Dr Essam Mohammed
UAE, Egypt, Jordan economic deal to pave way for new period of economic integration, ministers, officials say
The Industrial Partnership for Sustainable Economic Growth will help build the region’s added-value manufacturing sectors
Dubai
Gabri Labs and Dubai Science Park ink agreement to construct AED18m medical devices facility in Dubai
UAE’s pharmaceutical industry is set to reach AED5.6bn by 2025 as initiatives such as Operation300bn attract firms to the country
dubai chamber of commerce
Dubai Chamber of Commerce forms UAE Pharma Business Group to support local medicine manufacturers
The group’s 50 member companies will support the UAE’s ambitions to become a leading hub for the pharmaceutical, nutraceutical, and the medical device manufacturing industry
Dr Essam Mohamed
UAE pharma major Julphar plans new product launches after return to profitability
Revenue, profit boost in 2021 due to increase in market share in the UAE and Saudi Arabia
GCC IPO activity
Saudi’s largest retail pharmacy chain sees 1.09 million investors subscribing to invest $1.8 billion for the retail tranche of its IPO
The final offer price for the Nahdi Medical Company’s IPO has been set at SAR 131 per share, implying a market capitalisation at listing of $4.54 million