Neopharma starts exporting to Switzerland

ABU DHABI - Pharmaceutical products manufactured by Neopharma in UAE are being exported to Switzerland, a country considered a benchmark in terms of technology and quality.

By A Staff Reporter

Published: Mon 28 Jun 2004, 10:37 AM

Last updated: Thu 2 Apr 2015, 12:19 AM

According to a Press release issued by NMC, three shipments have already been executed and many more are under process.

It is stated that this innovative step has resulted in many more multinational companies approaching with enquiries to develop and manufacture their product range at Neopharma.

Neopharma was established in Abu Dhabi with the aim of manufacturing economical pharmaceutical products with a world-class pharmaceutical facility.

The objective was to manufacture quality medicines at affordable prices so as to pass the benefit of low cost to the common man and also to make the nation self-reliant in the long run.

Further, the medicines produced would not be bound by any trade restrictions or barriers, embargo or ban thus ensuring a smooth continuous supply of medicines, the release said.

"NMC is one of the pioneers of providing cost-effective health care in UAE. Our commitment to care is reflected in the state-of-the-art hospitals, retail pharmacy chain and a well diversified distribution network."

"But when it comes to the cost of pharmaceuticals, NMC could not do much as the medicines are largely manufactured by other foreign companies," the Press statement said.

Currently the multinational companies' pharmaceuticals are sold at a premium on two accounts. First, on the basis of patent for active ingredient, bulk active process and method of formulation and second, even if products are off patent, they are still manufactured at a premium rate in their respective countries.

With the setting up of Neopharma, the latter issue is being addressed.

As the formulations would be developed in-house and manufactured at Neopharma's plant in Abu Dhabi, the cost of manufacture and logistics would be brought down thus reducing the overall cost of medicines to a great extent.

Neopharma has a gamut of products, which offer unique benefits. All these stem from a well-knit research and development effort coupled with newer manufacturing processes with better yields and stability.