Pharmax Pharmaceuticals, based out of UAE has started production out of its new AED125 million ($34 million) facility situated at Dubai Science Park.
The company mentioned in a statement that the custom-built factory is the first advanced manufacturing facility to be introduced in Dubai Science Park and is provided with the new European technology, meeting stringent global regulatory standards.
It stated that the factory has a present annual capacity of around 200 million tablet and capsule dosage forms, which will rise in the next three to five years to over 800 million.
Pharmax stated that it will manufacture medications targeting chronic conditions common in the Middle East and other developed markets, involving cardiovascular diseases, gastroenterological diseases, neurological and psychiatric disorders, metabolic disorders like central nervous system diseases, hyperlipidemia and diabetes, respiratory illnesses, bacterial and viral infectious diseases, bone and joint inflammation disorders asthma and allergies and urological diseases.
Already recruiting around 40 staff, plans are for Pharmax to introduce more than 15 positions in the next few months.
Development of the facility started in September 2015 as a joint venture between Al Ittihad Drug Store, a distributor of medicines in the UAE, and two of the biggest pharmaceutical manufacturing companies in Morocco – Cooper Pharma and Bottu Pharmaceuticals.
CEO of Pharmax, Madhukar Tanna mentioned, “Now is the perfect time for Pharmax Pharmaceuticals to launch in the region. Dubai Plan 2021 highlights pharmaceutical manufacturing as a key development sector and the UAE needs more high-quality generic medications.”
He said, “We have received very positive support from the Ministry of Health and Prevention and local health authorities for our work here at Pharmax.”
He even mentioned, “Expansion is definitely planned for Pharmax Pharmaceuticals – we even own a similar sized plot right next to our flagship facility with this in mind. Beyond the Middle East, our medications will soon be made available in Europe, Asia and Australia.”
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