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- Gulf Pharmaceutical Industries 'Julphar' Signs Landmark Agreement with Sunshine Lake Pharma to Pioneer Insulin Biosimilar Manufacturing in MENA
Gulf Pharmaceutical Industries 'Julphar' Signs Landmark Agreement with Sunshine Lake Pharma to Pioneer Insulin Biosimilar Manufacturing in MENA
- Julphar is set to become the first company to localize Insulin Biosimilars manufacturing in the MENA region.
- The agreement includes licensing and technology transfer for Insulin Glargine and Insulin Aspart
May 18, 2023, Ras Al Khaimah, UAE: Gulf Pharmaceutical Industries PJSC (Julphar), one of the largest pharmaceutical manufacturers in the Middle East and Africa, today announced signing a strategic licensing partnership with the Chinese pharmaceutical company, Sunshine Lake Pharma, to establish Julphar as the first pharmaceutical company to localize modern Insulin analogues manufacturing in the MENA region.
In the MENA region 73 million adult people live with Diabetes affecting 16.2% of total adult population with a treatment cost estimated at USD33 billion annually. The number of patients is expected to double over the coming 20 years..
The landmark agreement in the area of Insulin Analogue products includes the licensing and technology transfer of Insulin Glargine and Insulin Aspart, addressing both long-acting and short-acting medical insulin needs used in the management of type I and type II diabetes. The partnership will enable Julphar to expand its diabetes medication portfolio and introduce modern Insulin biosimilar products to the region.
Commenting on the agreement, Sheikh Saqr Bin Humaid Al Qasimi, Chairman of the Board of Directors of Julphar, said: “We are delighted to enter this agreement with Sunshine Lake Pharma, reflecting Julphar’s commitment and drive to providing high-quality healthcare solutions to the Middle East and North Africa. Over more than four decades, we have established our name as an Emirati brand with a successful model for pioneering the manufacture of medicines.”
This strategic partnership is aligned with the Ministry of Industry and Advanced Technology’s (MoIAT) vision including the National Strategy for Industry and Advanced Technology and In-Country Value Program (ICV). In October 2022, Julphar had announced its ambition to establish the Middle East’s first factory to produce Glargine.
He added: “This agreement represents a remarkable leap for the UAE, for Julphar, and for the pharmaceutical industry, in line with the “Make It in the Emirates” initiative.”
Mr. Basel Ziyadeh, Chief Executive Officer, Julphar, said: “This partnership contributes to increasing Julphar’s technical and production capabilities in line with our strategy to expand our specialty product portfolio.
With 12 factories in Ras Al Khaimah and an annual Insulin production capacity that meets the needs of the local and regional market, Julphar will reinforce its position as a leading specialty manufacturer in the MENA region and emerging markets.”
He added: “This partnership will further support our efforts to strengthen the resilience of local supply chains and help enhance self-sufficiency in medicines and healthcare products, leveraging Julphar’s technical and scientific capabilities to position the UAE as a leader in the pharmaceutical sector and as a global industrial hub.”
Commenting on the agreement, Mr. Zhang Yingjun, President, Sunshine Lake Pharma, said: “We are pleased to enter this agreement with Julphar as one of the region’s leading pharmaceutical companies. We are confident that this new cooperation between both companies combined with Julphar’s strong regional presence will significantly strengthen the supply of high-quality modern Insulins in the MENA markets.”