Sanofi Expands Generic Drug Range Through Stake In Dubai’s Globalpharma

France-based drug maker Sanofi announced today that it has commenced the first phase of local generic drug production in Dubai through Globalpharma.

The announcement follows the acquisition of a significant stake in Globalpharma by Sanofi from Dubai Investments in June this year.

Following the deal, Globalpharma is being integrated as a Sanofi company to become the platform to manufacture and promote the generics portfolio of the French drug maker in Middle Eastern markets.

The new portfolio will include anti-infective, cardiovascular and gastrointestinal products for the Middle East markets, the company said.

Officials said that the integration is a mutually beneficial deal as Sanofi will bring to Globalpharma its knowledge in industrial development, while Globalpharma boasts a strong local footprint and can act as a platform for Sanofi’s regional expansion.

Antoine Ortoli, SVP – Intercontinental Global Operations at Sanofi said: “Our combined strong geographical presence and portfolios in specific therapeutic areas will enable us to broaden our reach and strengthen our presence in the generics market, providing more patients with high quality, affordable medications.”

Khalid Bin Kalban, managing director and CEO of Dubai Investments, said that the integration of Globalpharma into Sanofi portfolio would further build the company’s capabilities in the region.

“This divestment of shares with Sanofi is a major step forward in strengthening the company’s market leadership through a differentiated and specialty-driven generics portfolio, bringing together the strong reputation of Globalpharma and the global expertise of Sanofi, and tailored to meet the needs and demands of the regional healthcare industry.”

Globalpharma currently manufactures and markets pharmaceutical products in more than 14 markets across the Middle East and other neighbouring countries.

It produces a wide range of medicines including antibiotics, analgesics/ NSAIDs, anti-ulcerants, respiratory products, nutritional supplements, as well as medication for chronic conditions such as cardiovascular disease and diabetes.

The growing prevalence of lifestyle diseases along with its growing population has made the GCC a thriving market for pharmaceutical firms.

According to a study by QNB, the GCC’s market for European-made drugs and medicines is expected to pass $10 billion by 2020.