Prominent Indian businessman B R Shetty has signed an agreement with Prince Turki bin Mohamed bin Nasser, in charge of Jazan Industrial City and Shaikh Mohammed Rafik, Chairman of Gammon Group to establish a pharmaceutical plant in the new industrial city in the Kingdom’s south.
Under the agreement, which was signed on Monday, Shetty’s NeoPharma will set up the plant in the SR75 billion Jazan Industrial City, which is being developed by Gammon Group.
Shetty is the managing director and CEO of NeoPharma, which is based in Abu Dhabi.
Shetty will have 65 percent stake in the project while Prince Turki will hold 25 percent and Gammon 10 percent, Rafik told Arab News after signing the landmark agreement.
He said NeoPharma would receive an interest-free loan worth 75 percent of the project cost for a period 20 years.
Prince Turki, who is authorized by Jazan Gov. Prince Mohamed bin Nasser to develop Jazan Industrial and Economic City, will help Neo Pharma to procure license from the concerned authority and assist to establish their plant in Jazan.
As per the agreement, Prince Turki will assist NeoPharma in procuring license and other legal compliance from the government of Saudi Arabia for the running of a pharmaceutical manufacturing and processing plant.
“The prince will also help the company to get land in Jazan Industrial City free of cost for setting up the factory as well as to receive a soft loan equal to the amount of 75 percent of the project cost for a period of 20 years,” Rafik said.
Gammon will be responsible for providing assistance to Neo Pharma in doing all documentations and compliances which is needed for the establishment of pharmaceutical plant in Jazan.
The Middle East-based Gammon, which is engaged in diversified projects having global presence, have been legally appointed by Prince Turki as authorized representative to initiate meaningful discussion with credible companies, groups or Individuals around the globe to establish their branches or new industrial, commercial or residential business ventures in Jazan.
Neo Pharma is committed to manufacture safe, efficacious and cost effective health care products of consistent quality conforming to international standards. Rafik thanked Shetty for expressing his interest to establish a pharmaceutical manufacturing plant in Jazan.
“Gammon is convinced about the capability of NeoPharma,” he added.
Jazan Industrial City is being established in the southwestern part of Saudi Arabia with a focus on the energy and manufacturing industries.
It is expected to attract industrial, commercial and residential investments valued at SR75 billion and create 100,000 direct and indirect jobs.
It promotes investments in infrastructure facilities like roads, bridges, commercial centers, power plants, water treatment plants, oil refineries and petrochemical plants, setting up of construction companies for infrastructure projects, steel mill factory, state of the art generic pharmaceutical plant, and sugar mill, food processing companies and other vital projects.
Neopharma participates as an Exhibitor in the CphI Worldwide 2014, the world’s leading pharmaceutical networking event.
The Pharma Expo was held in Paris Nord Villepinte, France from 7th to 9th October.
Neopharma participates as an Exhibitor in the 27th International Pharmaceutical R&D Manufacturing Expo / Conference held in Japan – Tokyo Big Sight from 02nd to 4th July.
TRADE UAE Iraq, a commercial forum promoting trade, exports & investment between the UAE, Iraq and its Kurdistan region is supported by the UAE’s Ministry of Economy, Dubai FDI, Dubai Exports and the Kurdistan Regional Government. The first TRADE UAE Iraq series took place in Erbil, Iraq in 2013 from 16th to 17th April. This multi-sector trade exhibition focuses on all economic sectors from transportation, tourism to manufacturing and gives an excellent opportunity for UAE Companies to pave its gateway to doing business in Iraq.
Neopharma took pride in participating as an exhibitor in the 2nd TRADE UAE Iraq series held in Saad conference Centre, Erbil, Iraq from 10th to 12th June 2014.
10-12 June 2014| Saad Conference Centre | Erbil, Iraq
Neopharma organized “Blood Donation campaign” on 05th June 2014, a successful Voluntary blood donation campaign in collaboration with the Abu Dhabi Blood bank in the Company premises.
BLOOD DONORS ARE ALWAYS HEALTHY…This is no Cliche. This is a reality. Every day, every moment, there is a constant need of blood to save lives. Blood Donation is a service to Humankind. Donating Blood is a noble act which contributes to thousands of lives being saved without causing harm to the donor. By donating blood we help the needy and give someone other a chance at life. Share a little, Care a little…
Dr. B.R. Shetty, MD and CEO, said “The act of blood donation is safe. The equipment used for the donation is sterilized and disposable which makes it impossible to acquire diseases or come to any harm. On the contrary donating blood can have beneficial effects as it activates the donor’s blood production in the bone marrow. As blood cannot be manufactured and stored indefinitely it is essential that people volunteer themselves to donate blood. Be a donor and save a life. Blood donors are quiet heroes. Be a hero. Be a Blood donor.”
In surgery and treatments human blood is a prime necessity. Every volunteer is first examined by a doctor and only if declared physically fit, will be permitted to give blood. Around 40 units of blood were collected and all the donors expressed their happiness to be a part of this noble cause.
The employees with great sense of pride expressed through their participation in the Blood donation campaign, therefore, harmless any by doing so a precious life may be saved.
World Environment Day (WED) is celebrated every year on June 5 to raise global awareness to take positive environmental action to protect nature and the planet Earth.
Dr. Sundar Lal Kataria, Dr. S.Rajendran from International Certification Services Pvt. Ltd along with our General Manager Mr. Suresh G Pai planted a tree in the Factory premises.
Neopharma is continously doing its bit to Reuse/Reduce/Recycle and work towards creating a sustainable Eco-friendly environment & planet.
Wyeth (A Pfizer Company) Enters into a Partnership Agreement to Advance Sustainable Solutions to Patient’s Needs in the UAE and Other Neighboring Countries.
Dr. B.R. Shetty, MD and CEO, said ”This is a dream come true and an important milestone in contributing back to Abu Dhabi”, at the signing ceremony of the partnership agreement between Pfizer and Neopharma in Abu Dhabi on Monday, 19th May 2014.
Neopharma, the Abu Dhabi-based drug manufacturer, has tied up with a Pfizer unit to manufacture selected products.
In partnership with Wyeth, Neopharma will start with a couple of cardiovascular medicines related to hypertension and heart diseases, and will later move on to anti-inflammatory, pain management, women’s health and anti-infective drugs.
The medicines will be produced at Neopharma’s Mussafah factory, and will be available in the UAE next year. These will eventually be rolled out in the rest of the Gulf countries. Neopharma’s overseas markets include Saudi Arabia, Oman, Qatar, Kuwait, Kenya and Afghanistan.
The local company is owned by the NMC Health chief executive and managing director BR Shetty.
“The partnership will enable us to transfer skills and knowledge locally,” said Zeydan Abuissa, the country manager and Pfizer Global’s head for the Gulf and Levant.
Pfizer, which entered the UAE 30 years ago, took over Wyeth in 2009. The New York-based company is also in the news for its bid to acquire the British drug company AstraZeneca.
There are about 90 global pharma companies in the UAE, but only eight, including Julphar, Neopharma, Globalpharma, and Medpharma, are considered major domestic players, according to an Alpen Capital report. Among local companies, Julphar dominates the market.
In 2012, Neopharma signed a deal with Germany’s Merck Serono and India’s Hetero Group to locally manufacture drugs. The tie-ups are expected to bring down the cost of medicines. The healthcare market in the UAE and Gulf is dominated by expensive imported prescription drugs.
The government has periodically cut medicine prices, and those of another 192 were slashed by up to 60 per cent effective January 1. These included drugs to treat heart disease, hypertension and diabetes.
Among the challenges that international drug manufacturers face in the Middle East are price controls and difficulties in registering new drugs, according to a Deloitte report from January.
The cost of medical care fell by 0.14 per cent in March compared to a year earlier, according to the National Bureau of Statistics.
Neopharma is not a part of the entity listed as NMC Health in London.
Among other new players in the sector are Pharmax Pharmaceuticals, a subsidiary of UAE’s Ittihad Drug Store. It is building a Dh40 million, 90,000 square feet facility at the Dubai free zone DuBiotech. The project is expected to be complete in a year. It will manufacture drugs for diabetes, hypertension, peptic ulcers, psychiatric conditions, neurological and respiratory tract disorders.
Neopharma participates as an Exhibitor in the 4TH Edition of Africa Health Expo / Conference held in South Africa Gallagher Convention Centre, Johannesburg from 29th to 31st May 2014.