AbbVie to produce medicines in KSA

Updated 09 April 2014

AbbVie to produce medicines in KSA

AbbVie has announced its launch in Saudi Arabia as an independent biopharmaceutical company after separation from Abbott Laboratories.
The event was attended by Abboud Bejjani, vice president of AbbVie in the Middle East and Rami Fayed, General Manager of AbbVie Saudi Arabia, in addition to officials from the Ministry of Health and both public and private hospitals as well as professionals from the industry.
AbbVie also announced the local production of some of its medicines, including the world’s leading biologic therapy for auto-immune diseases, through a partnership with the Arab Pharmaceutical Product Company (Arabio).
With a 125-year heritage of developing pharmaceuticals, AbbVie combines the focus and passion of a leading-edge biotech with the expertise and structure of a long-established pharmaceutical leader.
A global enterprise that serves patients in 170 countries, AbbVie launches in Saudi Arabia with a strong commitment to the country’s health care, where it has been operating as Abbott for around 55 years.
“Today is incredibly exciting for all of us at AbbVie: We are launching a new company with a great heritage, a strong portfolio, a solid pipeline and committed people who will focus on the needs of patients in Saudi Arabia,” said Abboud Bejjani, vice president, Middle East, Africa and Pakistan, AbbVie.
“AbbVie intends to be a strategic partner to the Saudi government and other local stakeholders,” said Bejjani.
“Our investments and plans for the Kingdom correspond with the vision of the country’s priorities in health care, particularly in the areas of expanding life span, improving children’s health and treating and preventing socially sensitive diseases,” said Bejjani.
AbbVie also announced the local production of some of its leading therapies, namely in the areas of auto-immune diseases and neonatology.
Rami Fayed, general manager, Saudi Arabia, AbbVie, said: “Localizing the production of some of our key therapies in partnership with leading local pharmaceutical companies is one of our priorities in Saudi Arabia. We believe that our collaboration with Arabio enhances the development of the health care environment in Saudi Arabia.”
Majed Saeed Bahatheq, general manager and CEO of Arabio, said: “This agreement is a real realization of Saudi Arabia government to develop the biological manufacturing capabilities in Saudi Arabia.”
AbbVie launches in Saudi Arabia with a broad portfolio of market leading medicines for the treatment of some of the world’s most complex and serious diseases.
The portfolio includes the world’s number one biologic and as well as other leading therapies in neonatology, anesthesia, rheumatology, gastroenterology, dermatology, neurology, virology, oncology and nephrology.
AbbVie’s long-term growth will be fueled by a compelling pipeline — with more than 10 compounds in late stage clinical trials or registration — as well as new discoveries to address diseases including Hepatitis C, Alzheimer’s disease, Parkinson’s disease, multiple myeloma and endometriosis.

VAT refunds for UAE tourists to start November 18

Tourists can identify participating stores through frontstore posters. (File/AFP)
Updated 22 October 2018

VAT refunds for UAE tourists to start November 18

  • Only invoices from registered retail outlets will be eligible for refund

DUBAI: UAE tourists could avail of Value Added Tax (VAT) refunds on their purchases in the country starting November 18, local daily Khaleej Times has reported.

The UAE Federal Tax Authority is implementing the new tax scheme, which allows VAT rebates for tourists.

More than 4,000 retail stores across the UAE will be part of the tax refund system, FTA director general Khalid Ali Al-Bustani said, adding that only invoices from the registered outlets will be eligible for the refund.

Tourists can identify the participating stores through frontstore posters, he added.

First phase will be implemented in Abu Dhabi, Dubai and Sharjah International Airports, while full implementation will be finished by mid-December.

"The scheme will be fully operational as per the timeline we set for it and will include integrated electronic programs and mechanisms for direct connection between retailers and tax refund offices for tourists at airports and land and sea ports," Al-Bustani said.