UAE Announces Manufacturing Deals Worth $70 Million
The Ministry of Industry and Advanced Technology (MoIAT) today announced the signing of a pair of memoranda of understanding (MoU) together worth $70.8 million between major pharmaceutical and medical devices companies in the UAE.
Signed in the presence of Her Excellency Sarah bint Youssef Al Amiri, Minister of State for Public Education and Advanced Technology, the partnerships are in line with the National Strategy for Industry and Advanced Technology and the ICV Program.
These prgograms aim to attract investors and manufacturers to the UAE’s pharmaceutical and medical equipment sectors, among others.
Under the partnerships, PureHealth, one of the largest healthcare providers in the UAE and a member of the ministry's National ICV Program, will work with Abu Dhabi Medical Devices Company (ADMD) as well as Abu Dhabi Ports Group and Abu Dhabi Polymers Company (Borouge) to establish a $30 million medical supplies production line in Abu Dhabi.
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Under the MoU, Borouge will provide raw materials while Abu Dhabi Ports Group will provide industrial land in ICAD 1 for the production of medical syringes, administration devices, and blood collection tubes.
Under a separate MoU, PureHealth and Gulf Pharmaceutical Industries Company (Julphar) will establish the first factory in the Middle East to produce Glargine (the first long-acting biological alternative to insulin) for the treatment of diabetes.
The $41 million manufacturing facilities will be built in Ras Al Khaimah and will enable the UAE to obtain an insulin substitute at more competitive prices. It will also support exports to regional and global markets where there is an increasing demand for insulin substitutes.
The industrial partnership between Pure Health, Julphar, Abu Dhabi Medical Devices and other government and private entities represents an exemplary model in industrial integration and cooperation.
Through these kinds of partnerships, companies will be able to procure products locally, supporting supply chain localization and local suppliers. The ministry hopes they will pave the way for similar partnerships across sectors.
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