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FINANCIAL NEWS
UAE drug manufacturing to grow by 34 percent
11 Feb 2016
(MENAFN) The number of pharmaceutical industrial plants in the UAE is predicted to increase further in the coming five years to 34 percent from 16 recently as part of economic expand.
Accordingly, three deals are expected this year between international drug firms and local producers for manufacturing medicines in the UAE.
In addition, Dubai-bases Global Pharma united Sanofi in a business to produce some of its generic medicines in the UAE, and it entered a deal with Pfizer’s Wyeth.
Moreover, the whole healthcare spending in the UAE forecasted to reach USD 19.23bn, an annual increase rate of 7.9 percent, from USD 14.64bn a year earlier.
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