With a debate raging in the west between religion and science, Islam’s flexible response to new technologies could provide the Middle East with a competitive advantage in the rapidly expanding global biomedical market, according to a leading industry expert.
“The Middle East has a distinct advantage because of the flexibility of Islam on several of the issues dividing thought in the west,” said Dr Colleen Lyons, a consultant on biopharmacology ethics and business development.
Bioethics in Islam broadly accepts new technologies by emphasising medical prevention and teaching that patients must be treated with respect and compassion with the physical, mental and spiritual dimensions of illness taken into account, she added.
Dr Lyons is one of a panel of high profile regional and international speakers taking part in the Pharmaceutical and Biotechnology Middle East (PABME) exhibition and conference which opened yesterday (27 April 2008) and runs until Tuesday (29 April) at the Dubai International Exhibition Centre.
Five major conferences are taking place at PABME including the examination of ethical, religious and cultural issues; a regulatory workshop on developing practical skills; Facilities Design, Upgrade and Expansion; Pharma and Biotech Opportunities in Emerging Markets; and a Clinical Trial Congress.
PABME 2008 is the largest show of its kind in the region with top decision makers from over 80 countries registered to attend with joint ventures, technology transfers and representation contracts worth millions of dollars expected to result.
“A lot of work needs to be done to educate western companies about the different interpretations of Islam,” Dr Lyons said. “The Middle East and Dubai in particular through developments such as Dubiotech could greatly assist in the attainment of many global health goals.”
Dubiotech, a 30 million square feet research park and the region's first dedicated life sciences hub, is a leading sponsor of PABME which is supported by the Ministry of Health of the United Arab Emirates.
Dr Ali Bin Shakar, Director General United Arab Emirates Ministry of Health, officially opened PABME yesterday and toured the exhibition in which more than 100 companies from over 25 countries in the Middle East, Asia, Europe, the Americas, Africa and Australasia are taking part. China, with over 25 companies, is mounting the biggest pavilion at the show.
China is one of a number of countries in the world making big investments in biotechnology. Others include many European Union countries, India, Japan, Malaysia, Korea, Singapore, the United Arab Emirates and Kuwait, said G. Steven Burrill, Chief Executive Officer, Burrill & Company, speaking on the global biotech industry.
Global pharmaceutical sales are expected to top $1.3 trillion by 2020 and the combined pharmaceutical markets of the Arabian Gulf, North Africa, Levant and Iran is currently estimated to be valued at over $12 billion and growing at an annual rate of 10%.
Burrill sees a growing role for the Arabian Gulf in biotechnology as a result of developments such as Dubiotech as well as others such as a $1 billion healthcare city near Muscat by Oman’s Majan Development Company and Gulf Investment House; a $3 billion medical centre in Doha, Qatar; the Cleveland Clinic development by Mubadala and Aldar in Abu Dhabi; and decisions by foreign companies such as Pfizer, Qualiphar-Gifrer, GE Healthcare and Newbridge Pharmaceuticals to set up and invest in the region.
For more details about the PABME exhibition and conferences, please visit: www.pabme.com
