As officials in Abu Dhabi aim to boost local drug production, AstraZeneca is getting on board.
The British drug giant has inked a "strategic partnership" with local company G42 Healthcare aimed at bolstering pharmaceutical production in the city. The move is just the latest in “a series of longstanding partnerships with key players in the pharmaceutical industry," according to a recent statement from Abu Dhabi’s department of health.
It follows the "Make it in the Emirates" initiative, a strategy launched by the Ministry of Industry and Advanced Technology to boost the United Arab Emirates’ position as an “attractive destination” for both local and global investors and as a “global hub” for future industries.
The two companies outlined a multiyear process to manufacture innovative drugs in Abu Dhabi. By 2031, Abu Dhabi aims to double its manufacturing sector and “expand its footprint” in life sciences research and development, according to the department of health. Through other similar agreements, the government wants to create new high-skilled jobs.
This is the latest in a recent trend of big pharma companies partnering up with local companies and manufacturers to boost overseas production. Just yesterday, Viatris unveiled a plan to transfer technology to Cypriot pharmaceutical company Medochemie to bolster pharmaceutical production in Vietnam.
Last week, Eli Lilly signed a deal with Egypt’s Eva Pharma, committing to deliver active pharmaceutical ingredients at a reduced cost for its human and analogue insulins. Lilly also said it will provide a “pro-bono transfer” of the technology needed to formulate, fill and finish vials and cartridges, the company said.