Globalpharma, the pharmaceutical joint venture of Dubai Investments, will begin operating in the first quarter of 2001, the Gulf News reported Thursday.
The company will manufacture antibiotics and generic pharmaceutical products, the daily said, adding that it will target Gulf and international markets.
Its consumer base will comprise hospitals, clinics, government tenders and pharmacies.
The firm is building its plant in the Dubai Investments Industrial Park and has appointed a multinational consultant, the daily added.
Having received approval from the Health Ministry, Globalpharma is seeking registration with US and UK authorities, said the paper.
Planned in 1998, Globalpharma is a Dh 52.0 million venture set up by Dubai Investments to produce and market a range of antibiotics, anti-ulcerants and cardiovascular drugs in the AGCC and beyond.
The plant is intended the first in the region to produce a range of raw materials that it will require in product formulations to be marketed world-wide. The project is a joint venture with Indian health care major Kopran – (Several Sources)
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