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news.Merck, which has about a 4% share of the fragmented UAE pharma market, is in negotiations to acquire or team up with up to five health care companies to expand footprint, reported The National.
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Stefan Oschmann, president of emerging markets at Merck, said that the company’s endeavors of this proposed expansion will lead to increase in sales in the region by 30%, which is around twice that of what it anticipates to attain in other emerging markets such as China and South America.
According to IMS Health, a US-based research firm, the UAE’s pharma market witnessed a ten-fold increase compared with the global market in 2009. Against this backdrop, big pharma players such as Pfizer and GSk are interested to invest in the Middle East due to a significant global shortfall in medical services.
Particularly, Merck intends to invest in clinical research trials related to diabetes, which is prevalent in the region. The company is also exploring joint ventures, acquisitions and licensing or manufacturing partnerships in Middle East.
Mr Oschmann said: “We’re looking into all different options. I expect that, over the next couple of years, significant deals will happen. You will see that we will have a much larger local and regional footprint.
“The UAE has a sophisticated medical system together with emerging market features. When you match these two, it makes it a very interesting area for us to invest in.”