$70.8mln deals signed to make medical equipment locally in UAE

$70.8mln deals signed to make medical equipment locally in UAE

A pair of memoranda of understanding (MoU) worth AED260 million ($70.8 million) between major pharmaceutical and medical devices companies in the UAE, the Ministry of Industry and Advanced Technology (MoIAT) has said.

Under the partnerships, PureHealth, one of the largest healthcare providers in the UAE and a member of the ministry's National In country Value (ICV) Programme, will work with Abu Dhabi Medical Devices Company (ADMD), which is a subsidiary of Abu Dhabi National Industrial Projects, as well as Abu Dhabi Ports Group and Abu Dhabi Polymers Company (Borouge) to establish a AED110 million medical supplies production line in Abu Dhabi, a WAM report said.

Under the MoU, Borouge will provide raw materials while Abu Dhabi Ports Group will provide industrial land in ICAD 1 for the production of medical syringes, administration devices, and blood collection tubes.

Diabetes drug

Under a separate MoU, PureHealth and Gulf Pharmaceutical Industries Company (Julphar) will establish the first factory in the Middle East to produce Glargine (the first long-acting biological alternative to insulin) for the treatment of diabetes. The AED150 million manufacturing facilities will be built in Ras Al Khaimah and will enable the UAE to obtain an insulin substitute at more competitive prices. It will also support