Updated on 30 July 2012
Mr Marwan Abdulaziz, executive director, DuBiotech & Enpark, TECOM Investments' Science Cluster, says, "We have perceived a high interest among the life sciences companies in India towards DuBiotech. We are glad that our MOU with the IDMA will offer Indian companies the perfect platform to communicate with potential business partners and forge ties with institutions, and take that interest to the next level. Through our cost-effective and enabling services we hope that several biotech comopanies from India will invest in DuBiotech, which will not only prove a great addition to our portfolio, but will also support the UAE's vision of strengthening the economic synergy between the two countries."
The UAE itself is considered to be the second-largest consumer of pharmaceutical products in the Gulf after Saudi Arabia with the market valued at around $640 million. The pharmaceutical industry in the UAE also benefits from re-export markets such as Iran, Pakistan, Yemen and Somalia which are major buyers of re-exported pharmaceuticals from the country.