According to Sanjeev Nanda, a robust R&D ecosystem can help the pharmaceutical sector in UAE to make better progress
The pharmaceutical sector in the UAE has remained at the forefront of the nation’s fight against the pandemic. The crisis also brought forth the growing need for greater pharma research and development in the Emirates. We asked Sanjeev Nanda, MD of Dubai-based ISHVAN Pharmaceuticals, about how the pharmaceutical sector in UAE can prosper better.
According to Nanda, the nation can reap great benefits if it develops a robust ecosystem for research and development in the pharma sector. “We have seen the countries in the western world lead the developmemt in medical technology and pharmaceutical sector. I believe that pharma players in the UAE can emulate those achievements,” said Sanjeev Nanda.
He added, “The progress of medical sector and associated arenas in any nation depends upon the regulations in place and the infrastructure that is in place. However, this is not something that can be achieved overnight. It needs years of careful planning, strategic interdependence and cooperation. Creating a robust R&D ecosystem for pharmaceuticals is, therefore, a lengthy process that needs cooperation from the government.”
Sanjeev Nanda appreciated the UAE’s efforts at establishing itself as a global hub for . He also pointed out that initiatives such as Centennial 2071, the UAE Vision 2021, and the Science, Technology and Innovation policy are some marvellous steps in the direction of developing the knowledge-based economy in the Emirates.
“The investments in the healthcare sector are expected to be worth $89 billion by the next year. This represents an overall increase by a whopping 50 per cent since 2013. This opens up a great opportunity for the UAE to spend more on developing a robust R&D infrastructure for the pharma sector, thus ensuring a better response should another healthcare crisis arise in the future,” the ISHVAN Pharmaceuticals MD said.