Emirati investment in pharmaceutical products
Arwan inaugurates production facility in Jadra
Arwan, a new manufacturer of pharmaceutical products, will officially launch operations in Jadra, Chouf, on December 18.
Among the products it will produce are drugs, medical supplies, and cosmetics. Arwan will manufacture generic drugs and plans to manufacture drugs under license, in the future.
The $35 million facility is a joint stock Lebanese company that includes Emirati investment. Abdel Razak Youssef, a UAE national, is the major shareholder.
The facility spans an area of 19,350 square meters and will create more than 80 jobs.
Scientific research began over a year ago, and the factory was accredited a Good Manufacturing Practice (GMP) certificate in 2012.
Arwan benefited from regular IDAL incentives, like income tax exemption.
With the Arwan factory, the number of pharmaceutical facilities in the market now totals 13.
Date Posted: Dec 09, 2013