DUBAI: The number of generic medicines and drugs available in the UAE now totals 6,176, according to the Emirati Ministry of Health and Prevention. Sixteen factories are involved in the production of pharmaceuticals and medical items in the country.
“Such numbers clearly reflect the flexible and attractive legislation and investment environment, and the availability of experiences, research capabilities, initiatives and incentives that help establish competitive medical and pharmaceutical industries,” the ministry said in a statement issued by WAM, the UAE’s state news agency.
“The provision of generic drugs enables patients to receive appropriate and affordable treatment, owing to the lower costs of these medicines by 60 percent compared (with) branded medicines,” said Dr. Amin Hussein Al-Amiri, the assistant undersecretary of the ministry’s Public Health Policy and Licensing.
He added that the UAE is keen to further expand the number of generic drugs manufactured in the country, especially in light of travel and trade restrictions caused by the COVID-19 pandemic.
According to a report by Indian market-research company IMARC, the generic drug market in the Gulf Cooperation Council area was worth at $3.94 billion in 2020, and Saudi Arabia was the single largest market in the region.