DUBAI: The range of generic medications and medications accessible in the UAE now totals 6,176, according to the Emirati Ministry of Wellbeing and Avoidance. Sixteen factories are concerned in the output of prescribed drugs and professional medical products in the place.
“Such quantities plainly replicate the adaptable and attractive laws and investment decision atmosphere, and the availability of experiences, analysis capabilities, initiatives and incentives that aid set up aggressive health-related and pharmaceutical industries,” the ministry said in a statement issued by WAM, the UAE’s state information agency.
“The provision of generic medicine permits clients to receive appropriate and affordable cure, owing to the lessen prices of these medicines by 60 p.c in contrast (with) branded medicines,” said Dr. Amin Hussein Al-Amiri, the assistant undersecretary of the ministry’s Community Wellness Policy and Licensing.
He additional that the UAE is eager to even further grow the range of generic medication manufactured in the state, specifically in light of vacation and trade limitations prompted by the COVID-19 pandemic.
In accordance to a report by Indian market-investigation firm IMARC, the generic drug sector in the Gulf Cooperation Council area was worthy of at $3.94 billion in 2020, and Saudi Arabia was the one most significant current market in the region.