AstraZenca, G42 Healthcare sign strategic partnership to manufacture meds in Abu Dhabi
AstraZeneca and G42 Healthcare have signed a strategic partnership agreement to manufacture drugs in Abu Dhabi.
To further the efforts of Abu Dhabi's Health Department to boost local manufacturing of pharmaceutical drugs, AstraZeneca and G42 Healthcare have signed a strategic partnership agreement to manufacture drugs in the region.
This comes as the United Arab Emirates (UAE) is looking to grow its pharmaceutical export markets to $297 million by 2025, according to a report by Fast Company.
The UAE currently imports about 80% of its pharmaceutical products, the report read.
What will the partnership entail?
The partnership will focus on a number of key areas like research and development, localisation of innovative industries, global sustainability, and overall innovation. Abu Dhabi’s Mubadala Investment Company also joined forces with Group 42 to set up a biopharmaceutical manufacturing campus in the capital of the UAE.
This new agreement is in line with the National Strategy for Industry and Advanced Technology and the Make it in the Emirates initiative, which were launched by the Ministry of Industry and Advanced Technology. The region currently has over 11 pharma multinationals like AstraZeneca, Roche, Pfizer, Sanofi, GSK, Novartis, and Johnson & Johnson.
Edited by Affirunisa Kankudti