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FINANCIAL NEWS
UAE- Neopharma, Merck Serono sign partnership agreement
03 Dec 2012
(MENAFN) Merck Serono’s CEO, Stefan Oschmann, said that the company, a subsidiary of Germany’s Merck KgaA, has signed a partnership agreement with UAE’s Neopharma, reported Emirates News Agency (WAM).
Neopharma, chaired by Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Higher Education and Scientific Research, would start producing Merck branded medication in the UAE for distribution across the Middle East.
Oschmann said that the deal means that Merck Serono will be the first multinational pharmaceutical firm to work with a local producer to supply the region with vital pharmaceutical products through export out of the UAE manufacturing base.
At the start, Neopharma will begin producing two Merck Serono products, the first, Euthyrox, a hormone therapy requiring a very stringent sterile environment for production and packaging, and the second one is Glucophage, a standard oral treatment for people suffering from type 2 diabetes that helps control blood sugar levels.
Production of the two medications will start next year.
It is worth noting that around 827,000 people between the ages of 20 and 79 are diagnosed with diabetes in the UAE.
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