(MENAFN- Emirates News Agency (WAM)) ABU DHABI, 21st February, 2023 (WAM) -- sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, on Tuesday inaugurated the first pharma manufacturing facility for ADCAN Pharma, which is located in the Industrial City Abu Dhabi (ICAD).
ADCAN will commence its commercial manufacturing from this facility and two other facilities currently under construction, targeting a wide range of strategic and valuable medicines. After distributing locally, the company aims to supply its products to other markets regionally and internationally.
The inauguration ceremony was attended by a number of senior officials from various governmental bodies, including the Ministry of Health and Prevention, the Abu Dhabi Department of Health, the Ministry of Industry and Advanced Technology, the Abu Dhabi Department of Economic Development and ICAD Industrial Zone.
The ceremony included an introduction to the steps taken by the company since its inception, as well as the future of the factory and its role in meeting the growing demand for pharmaceutical products in the UAE and the region.
Sheikh Nahyan commented,“The inauguration of the first factory for ADCAN Pharma is a new and strategic addition to the pharmaceutical and medical industries in the UAE, and in particular in ICAD, and supports investments in the pharmaceutical field while opening Abu Dhabi for future opportunities.'
During the ceremony, ADCAN presented its ambitious plans with the first phase focusing on production of general oral medicines treating diseases of the cardiovascular system, epilepsy, the central nervous system and diabetes among others.
ADCAN works to enhance their current range of medicines through several channels, including product-development, research and development, and acquiring licenses from international manufacturers. It has acquired manufacturing rights from international factories and recognised research centres.
At the end of the inauguration ceremony, Sheikh Nahyan took an introductory tour of the company's first factory with all its facilities and expressed his admiration and pride in this vital and strategic achievement.
In his welcoming speech, Abdullah Al-Rashdi, Chairman of the Board of Directors of ADCAN, indicated that the company will also be completing its second and third facility. The second facility will be dedicated to manufacturing certain cancer and highly potent drugs, and the third facility specialised in manufacturing hormonal drugs.
The production in the second phase is expected to be launched in 2024, with the facility for Oncology and highly potent drugs being the first of its kind in the UAE, and its facility for hormones will be the first of its kind in the region.
ADCAN Pharma Company invested around AED350 million for its first and second phases in order to build out their facility. The establishment of the facility – which aligns with the UAE's 2030 vision – serves as a major step forward for creating a regional pharmaceutical/medical hub in the Middle East.
He added,“We at ADCAN Pharma Company – guided and supported by the UAE's vision and wise leadership – continue to persevere to positively represent the national pharmaceutical industry while enhancing the drug security regionally and internationally.”
Zuhdi Sawalhi, CEO of ADCAN Pharma, explained,“Our success in completing the first facility at the first stage, will proceed with the completion of the second and third phases, projected to finish in the first quarter of 2024. Our endeavour is geared towards implementing a strategy to contribute to the country strategy to become a leading industrial and production hub.'
The company plans to produce more than 50 formulations in its current stage, as well as cancer and hormonal drugs in the next stage, with a production capacity of one billion tablets and capsules annually in the first stage.
The factory began marketing its products in November 2022, confirming the factory's capabilities, quality of its products, and its ultimate commitment to international standards. To date, nine products have been registered with the Ministry of Health.
The company has also signed contracts for drug development with international research centres, abiding by the approved international specifications. This serves as an additional merit to better qualify them in entering global markets.
ADCAN Pharma's factory is built on a plot of 31,000 square meters within the ICAD area. The first pharmaceutical factory is scheduled to produce various types of medicines, including medicines for anticoagulants and analgesics. Having its good manufacturing practice (GMP) certificate from the Ministry of Health and Protection in the UAE, confirms the factory's commitment to good production standards in the manufacturing of medicines.
Rashed Alzaabi