Dubai: The Swiss pharma company Acino has completed the integration of Pharmax Pharmaceuticals, the UAE-based manufacturer and distributor of medications. Both companies are owned by ADQ, the Abu Dhabi based investment and holding company.
With the integration, Acino will add over 100 employees as well as a ‘GCC and EU GMP-certified manufacturing site’ and thus expanding a growing international footprint. It manufactures various dosage forms - including tablets, capsules, inhalers, injectables, and topicals.
“With this change, we are positioning ourselves at the forefront of the rapidly expanding pharmaceutical market in the UAE,” said Andrew Bird, Head of Region, Middle East, Turkey, and Africa, at Acino. “Our combined expertise alongside the support of ADQ will enable us to contribute to the UAE’s efforts of becoming a leading pharmaceutical hub and tap into the great potential of the region.”
According to the whitepaper by ADQ, the UAE’s pharmaceutical market is expected to grow by 27 per cent between 2021-25, reaching $4.7 billion. The number of manufacturing units in the country reached 23 in 2021, up from four in 2010, with 14 producing medicines, four for medical devices, and two focused on disinfectant solutions.
There are now more than 2,500 medicines produced locally.