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By Fazeena Saleem
In a major boost to the pharmaceutical industry in Qatar, Minister of Public Health H E Dr Hanan Mohamed Al Kuwari yesterday inaugurated expansion works and new production lines of Qatar Pharma.
The expansion includes addition of eight new production lines bringing the existing number to 14 which manufacture various types of pharmaceutical products. Qatar Pharma is a leader in infusion therapy and clinical nutrition supplier in the Gulf region.
Meanwhile, Qatar Pharma shares will be shortly listed on Qatar Stock Exchange.
“We are in the process of issuing Qatar Pharma's Initial Public Offering (IPO). We will start selling 15% shares as a foundation and 40% will be for the public,” said Dr Al Sulaiti, Chairman of Qatar Pharma while talking to media on the sidelines of the inauguration ceremony.
“The Ministry of Public Health is keen in supporting the pharmaceutical industry to expand. The quality of pharmaceutical products manufactured in Qatar meet the best international standards although the industry is relevantly new in the country,” said Dr Hanan.
Qatar Pharma exports 90% of output
“We also work together with the private sector in enhancing the pharmaceutical industry to meet the needs of the local market,” she added.
Dr Hanan marked the official opening by unveiling the name plaque and toured Qatar Pharma’s pharmaceutical facilities and the manufacturing process of the new production lines.
Qatar Pharma is the first I.V (intravenous therapy) infusion factory in Qatar. Within I.V. generic drugs, Qatar Pharma is counted among the leading suppliers in the Gulf market.
The company is focused on the Intravenous, Hemodialysis for diabetic patients and topical drugs therapy for the care of critically and chronically ill patients in and outside the hospital.
The opening ceremony was held at the Qatar Pharma in New Industrial Area and was attended by Dr Ahmed Mohammad Al Sulaiti, Chairman of Qatar Pharma and several other officials.
“As part of an expansion, we opened new production lines for Qatar Pharma. In Qatar, we cover the maximum government and private sector in supplying pharmaceutical products. However, we mainly aim at exports. Last year, we supplied 10 percent of production within Qatar and 90 percent was exported,” said Dr Al Sulaiti, speaking on the sidelines of the event.
“We mainly export to GCC and Arab countries and this year we aim at generating QR134m by exporting the products,” he added.
“We are in the process of making Qatar Pharma Initial Public Offering (IPO) and we will sell 15 percent shares as a foundation and 40 percent will be for the public,” said Dr Al Sulaiti.
© The Peninsula 2017
