UAE consumers prefer medicines made in Europe

Consumers in the UAE increasingly prefer European-produced imported medicines for their high quality and competitive pricing, according to a 2013 pharmaceutical industry report from investment bank Alpen Capital.

By (Wam)

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Published: Sun 22 Sep 2013, 12:48 AM

Last updated: Tue 7 Apr 2015, 6:48 PM

The report states that between 2008 and 2011, pharmaceutical imports from the European Union (EU) into the GCC expanded at a compound annual growth rate of 18.3 per cent.

One of the region’s most important markets for medicine, the UAE has the GCC’s highest annual medicine sales per capita, at $282 (Dh1,036), and the GCC’s second largest pharmaceuticals market at $1.6 billion (Dh5.5 billion), both as of 2012, the report continues. The UAE and GCC rely heavily on imported medicine, which makes up about 85 per cent of the total drugs sold in the UAE.

Khalid Amin, regional director in the UAE for Spanish pharmaceutical company Cinfa, said: “Europe is among the largest exporters of medicine to the UAE, as doctors, pharmacists, and patients increasingly trust European-produced drugs. The main reason is the strict production and testing standards for drugs in Europe. Additionally, in Cinfa’s case, our drugs are priced competitively by comparison but retain the high quality of European-produced medicines.”

In the EU, the European Medicines Agency develops guidelines and sets standards; monitors compliance; and informs the public, and representatives of patients and healthcare professions, on the safety of medicines.

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