German pharma company Boehringer Ingelheim expects to expand its portfolio in the diabetes segment as increased prevalence of lifestyle diseases in the Arabian Gulf becomes a growth driver.
The company launched its second type II diabetes medicine in the UAE last month, and will launch four diabetes medicines in Egypt this year.
Despite the UAE government’s cost-control measures on medicine prices to check runaway medical costs, the prevalence of lifestyle diseases make it an attractive growth segment for international drug companies.
In the Arabian Gulf, the pharma market was estimated to be US$8.5 billion in 2012, and is expected to grow at a rate of 6 per cent to 8 per cent a year until 2020, according to a 2013 report by Dubai-based investment bank Alpen Capital.
The prevalence rate of diabetes in the region is nearly double that of the global average, the report said.
“Even with the price controls by the government, because of the prevalence of the lifestyle diseases, this market will continue to grow and provide a driver for the international [companies] to continue to invest here,” said Karim El Alaoui, the managing director and head of prescription medicine at Boehringer Ingelheim Middle East, Turkey and Africa.
Last year, it recorded a 34 per cent growth in sales over 2014 in the Gulf. The company declined to provide the total sales in the region. Worldwide, it generated €14.8bn in net sales, an increase of 4.1 per cent from a year earlier. The company’s operating income rose 6 per cent to €2.3bn last year.
As revenues from the oil sector take a plunge, governments across the region are cutting back on their spending, including the health sector. Saudi Arabia, for instance, has cut its healthcare budget this year, providing a way for a greater play for the private sector investment.
“The Gulf pharmaceutical market is still new, and we will be looking at [the Saudi market], and we will try to capitalise it,” Mr El Alaoui said. “There is an unmet medical need in the region.”
Saudi Arabia followed by the UAE are expected to remain the largest pharma markets in the region, according to the Alpen report.
In 2014, Boehringer Ingelheim tied up with Jeddah-based Cigalah group and Riyadh-based Tabuk Pharmaceuticals for local production in Saudi Arabia. Last year, the German company launched the first med madmedicine in the country for the local market.
In Egypt, the German company expects to launch four medicines in diabetes.
“Egypt is the country of the largest diabetes population in the region,” Mr El Alaoui said. “It is considered a focus [for our] expansion.”
It also expects to start local production in Algeria this quarter.
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Biog
Mr Kandhari is legally authorised to conduct marriages in the gurdwara
He has officiated weddings of Sikhs and people of different faiths from Malaysia, Sri Lanka, Russia, the US and Canada
Father of two sons, grandfather of six
Plays golf once a week
Enjoys trying new holiday destinations with his wife and family
Walks for an hour every morning
Completed a Bachelor of Commerce degree in Loyola College, Chennai, India
2019 is a milestone because he completes 50 years in business
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
UAE currency: the story behind the money in your pockets
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
RESULT
Uruguay 3 Russia 0
Uruguay: Suárez (10'), Cheryshev (23' og), Cavani (90')
Russia: Smolnikov (Red card: 36')
Man of the match: Diego Godin (Uruguay)
UAE currency: the story behind the money in your pockets
The Brutalist
Director: Brady Corbet
Stars: Adrien Brody, Felicity Jones, Guy Pearce, Joe Alwyn
Rating: 3.5/5
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
%20Ramez%20Gab%20Min%20El%20Akher
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Bharatanatyam
A ancient classical dance from the southern Indian state of Tamil Nadu. Intricate footwork and expressions are used to denote spiritual stories and ideas.
If you go
The flights
Emirates and Etihad fly direct to Nairobi, with fares starting from Dh1,695. The resort can be reached from Nairobi via a 35-minute flight from Wilson Airport or Jomo Kenyatta International Airport, or by road, which takes at least three hours.
The rooms
Rooms at Fairmont Mount Kenya range from Dh1,870 per night for a deluxe room to Dh11,000 per night for the William Holden Cottage.
Start times
5.55am: Wheelchair Marathon Elites
6am: Marathon Elites
7am: Marathon Masses
9am: 10Km Road Race
11am: 4Km Fun Run
Spec%20sheet
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The biog
Name: Salvador Toriano Jr
Age: 59
From: Laguna, The Philippines
Favourite dish: Seabass or Fish and Chips
Hobbies: When he’s not in the restaurant, he still likes to cook, along with walking and meeting up with friends.
RESULT
Argentina 0 Croatia 3
Croatia: Rebic (53'), Modric (80'), Rakitic (90' 1)
Company%20Profile
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Results
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Company%20Profile
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Match info
Manchester United 0-0 Crystal Palace
Man of the match: Cheikhou Kouyate (Crystal Palace)
The biog
Family: He is the youngest of five brothers, of whom two are dentists.
Celebrities he worked on: Fabio Canavaro, Lojain Omran, RedOne, Saber Al Rabai.
Where he works: Liberty Dental Clinic
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
RESULTS FOR STAGE 4
Stage 4 Dubai to Hatta, 197 km, Road race.
Overall leader Primoz Roglic SLO (Team Jumbo - Visma)
Stage winners: 1. Caleb Ewan AUS (Lotto - Soudal) 2. Matteo Moschetti ITA (Trek - Segafredo) 3. Primoz Roglic SLO (Team Jumbo - Visma)
Sunday:
GP3 race: 12:10pm
Formula 2 race: 1:35pm
Formula 1 race: 5:10pm
Performance: Guns N' Roses
Company%C2%A0profile
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PETER%20PAN%20%26%20WENDY
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Champions League Last 16
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