The Holding Company (ADQ) announced the acquisition of Pharmax Pharmaceuticals, which specializes in manufacturing and marketing low-cost generic medicines with a registered trademark.
According to the Emirates News Agency, the holding has also agreed to invest in Biocon Biologics Limited (Biocon Biologics), a subsidiary of Biocon Ltd. that specializes in the development, manufacture and marketing of biosimilars They are distinguished by their high quality and affordability in the international market.
and by investing in Pharmax Pharmaceuticals, the holding continues to expand its health and drug companies' portfolio, by filling a gap related to the availability of low-cost drugs, and building an effective health care system in the country. Emirates, strikes a balance between cost and quality. At the same time, the Holding's investment in Biocon represents an important step towards developing the necessary expertise in the field of innovative biosimilars, which are aimed at treating a number of chronic diseases, such as diabetes, tumors and immunology.
After completing the two investments, the Holding will make investments across the value chain in the health and drug sector, by providing health care to patients through the facilities of Abu Dhabi Health Services Company / SEHA / Which recorded 9 million patient visits last year, laboratory testing services through Union 71, and insurance coverage through the National Health Insurance Company Daman .. The holding portfolio extends to include the sector of drug procurement, transportation and handling of all its logistical operations by owning both Rafid and Mawani Abu Dhabi and Abu Dhabi Airports Company, as well as its investment in Aramex.
His Excellency Mohamed Hassan Al-Suwaidi, CEO of the Holding, said that our ambition for the portfolio of our health and drug companies in the long term is to achieve growth for a digitally advanced system that focuses on meeting the needs of This sector, which is based on a number of components that are represented in providing a global level of excellence, effective management of health services for community members, and a flexible infrastructure for the supply chain .. In addition to the value that this adds to the shareholder in the holding / ADQ /, it also has an impact. Economically and socially positively through the provision of better health services, better spending in the field of health care, and more opportunities for local and international cadres.
His Excellency added: We are moving forward on our march towards building a supply chain that enables members of the Abu Dhabi community and others to access healthcare products and supplies and medicines. As a local manufacturer of medicines, Pharmax enables us to own a high-quality pharmaceutical manufacturing facility, extensive experience and solid relationships that support the growth of the pharmaceutical industry in the UAE. As for Biocon Biologics, it has a record of achievement in research and development, and global partnerships that provide us with the opportunity to benefit from the biosimilar drug sector that will continue to grow ...
