Searle, one of the largest and most reputed pharmaceutical companies in Pakistan, has achieved a remarkable feat by becoming the first Pakistani pharma company to register its manufacturing facility in the United Arab Emirates (UAE). This is a significant step towards enhancing the bilateral trade and economic cooperation between the two countries, as well as expanding Searle’s global presence and market share.
Why is this a big deal?
The UAE is a lucrative and competitive market for the healthcare and life sciences sectors, with a projected value of $94 billion in 2021. The UAE government is committed to developing a world-class healthcare infrastructure and attracting foreign investments to improve the healthcare standards and boost the industry. The UAE also offers a strategic location and access to other regional and international markets, making it an attractive destination for pharma companies.
However, entering and operating in the UAE market is not easy, as it requires meeting high standards of quality, safety, and efficacy, as well as complying with stringent regulations and procedures. According to Searle’s CEO Nadeem Ahmed, registering a manufacturing facility in the UAE was a challenging and lengthy process that took almost three years to complete. He added that Searle had to invest heavily in upgrading its plant, equipment, and processes to meet the UAE’s requirements.
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Therefore, Searle’s achievement is a testament to its commitment, vision, and capabilities as a leading pharma company in Pakistan and beyond. It also reflects the strong and friendly relations between Pakistan and the UAE, which have been cooperating in various fields, including trade, investment, health, education, and culture.
What are the benefits of this move?
By registering its manufacturing facility in the UAE, Searle will be able to produce and supply its products directly to the UAE market, as well as export them to other countries in the Middle East and Africa. This will help Searle increase its revenues, profitability, and market share in these regions. It will also enable Searle to offer more affordable and accessible medicines to the customers in the UAE and beyond.
Moreover, Searle will be able to leverage its expertise and experience in developing innovative and high-quality products for various therapeutic areas, such as cardiology, diabetes, gastroenterology, respiratory, oncology, pain management, and women’s health. Searle will also be able to collaborate with other stakeholders in the UAE healthcare sector, such as hospitals, clinics, pharmacies, distributors, regulators, and research institutions. This will create opportunities for knowledge sharing, technology transfer, capacity building, and joint ventures.
Furthermore, Searle’s presence in the UAE will also benefit Pakistan’s pharma industry and economy. It will enhance Pakistan’s reputation and credibility as a reliable and competitive source of pharma products. It will also create employment opportunities for Pakistani professionals and workers in the UAE. Additionally, it will boost Pakistan’s exports and foreign exchange earnings from the pharma sector.
What are the future plans of Searle?
Searle has ambitious plans to grow its business and expand its footprint in the UAE and other markets. According to Ahmed, Searle aims to launch more than 100 products in the UAE market within the next two years. He also said that Searle plans to invest more than $100 million in setting up another manufacturing facility in Abu Dhabi. He expressed his confidence that Searle will become one of the top five pharma companies in the UAE within the next five years.
Searle is also exploring other avenues of growth and diversification. For instance, Searle has recently entered into a partnership with Pfizer to manufacture and distribute Pfizer’s biosimilar products in Pakistan. Biosimilars are similar but not identical versions of biologic drugs that are derived from living organisms. Biosimilars are expected to play a key role in reducing healthcare costs and increasing access to medicines for chronic diseases.
Searle is also looking into other sectors such as consumer healthcare, nutraceuticals, medical devices, diagnostics, and vaccines. Searle believes that these sectors offer great potential for innovation and value creation for both the company and the society.
Searle’s vision is to become a global leader in healthcare by providing quality products and services that improve people’s lives. Searle’s mission is to create value for its stakeholders by pursuing excellence in everything it does.
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