Issue Date: November 30, 2009
Biopharma Plant Slated For Abu Dhabi
Middle East investors are sinking $150 million on a biopharmaceuticals manufacturing facility in Abu Dhabi, United Arab Emirates (UAE), the first of its kind in the region. The Emirates Biotech Pharmaceutical Factory, a new company formed to manufacture biopharmaceuticals, will produce insulin, vaccines, growth factors, and anticancer drugs. Products will be sold in the Middle East and North Africa. Hebi Holding, an Egyptian holding company, will have a 40% stake in the new venture, with UAE investors taking the remaining share.
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