G42 Healthcare, a division of Abu Dhabi technology firm Group 42, and the UK's AstraZeneca have agreed to produce pharmaceutical goods in the emirate, establishing the capital of the United Arab Emirates as a "powerhouse" in global medical research.
The five-year cooperation, supported by the Department of Health (DoH) in Abu Dhabi, will collaborate in research and development, localise the production of cutting-edge products, and promote sustainable practises, enhancing the emirate's reputation as a centre for life sciences.
Ashish Koshy, CEO of G42 Healthcare, and Pelin Incesu, area vice president for the Middle East and Africa at Cambridge-based AstraZeneca, signed the partnership, which aims to assist in delivering top-notch medical care to patients.
Abdulla bin Mohammed, the chairman of the DoH, Peng Xiao, the group chief executive of G42, and Pascal Soriot, the executive director and CEO of AstraZeneca, all attended the ceremony.
According to Jamal Al Kaabi, undersecretary of the DoH, this will support the growth of the "Made in Abu Dhabi" campaign and strengthen local manufacturing, which is a "cornerstone" for sustainable development in all spheres.
With the help of international partners, Abu Dhabi "continues to lead on essential research to study the sustainability and resilience of the global healthcare industry while assuring the delivery of quality health care for patients," the official said.
"International interest in and investment opportunities across the biopharmaceutical and healthcare value-chain continue to emerge in Abu Dhabi as a result of the industries' tremendous growth potential," the report states.
One of the main pillars of the UAE's economic diversification policy is the expansion of the manufacturing sector. Another is the adoption of cutting-edge technologies. Particular attention is being paid to health care.
Abu Dhabi wants to become a top location for joint medical research and clinical trials. It has a solid infrastructure and laws that are designed to draw investments from the top businesses in the sector.
The government introduced a new funding initiative in September with the goal of promoting research and innovation to combat fatal diseases.
AstraZeneca and G42 Healthcare are working together to find sustainable ways to promote health care while striking a balance between economic development and sustainability.
Additionally, it will increase Abu Dhabi's presence in life science research and development and encourage innovation in all areas of the healthcare industry.
Our desire to support sustainable manufacturing capabilities and promote innovation on a global scale is at the heart of our relationship, according to Mr. Koshy.