Jordan’s pharmaceutical industry set to expand with 2 new drug…

April 17, 2023 Staff Reporter 1131 Views 0 Comments

AMMAN — Two
new drug factories are set to open on the outskirts of Amman this year through
a total investment of JD50 million, according to Fadi Atrash, the
representative of the pharmaceutical and medical supplies sectors at the Jordan
Chamber of Industry (JCI).اضافة اعلان

In an interview with
the Jordan News Agency, Petra, Atrash has emphasized that building such plants
shows the industry is headed in the right direction, as it is seeing
high-caliber investments that support the Jordanian pharmaceutical sector.

The two factories will
be located in Al-Baqaa and Al-Qastal areas, and “are purely local investments
that will generate hundreds of job opportunities, ensure drug security, and
meet the goal of self-reliance”, he said.

Sector growthAccording to
statistical data from the Amman Chamber of Industry, Atrash noted, the medical
industries and the medical supplies sector performed well during the first
quarter of this year. Exports increased by 20 percent, which is the highest
growth rate when compared to the other industrial sectors, after experiencing a
decline of 25 percent during the same period last year.

Additionally, he said,
the sector’s exports climbed during the first quarter of 2023 to JD147 million,
from JD122 million during the same period last year.

The majority of
pharmaceutical firms that were adversely affected by the COVID-19 pandemic are
also expanding — evidence of the sector rebounding.

Meanwhile, the sector
has witnessed the expansion of existing factories, the introduction of new
highly effective production lines, investments in research and development, the
pursuit of new non-traditional export markets, and the acquisition of
international recognition attesting to the high quality of Jordanian goods.

Pharmaceutical
trajectoryAccording to Atrash,
the sector has begun a shift to digital marketing and has started producing new
therapeutic and pharmaceutical drugs, increasing production capacity, and
making other ongoing investments that will contribute to the sector’s growth
and prosperity and help Jordan become a regional hub for the pharmaceutical
industries.

Jordanian
pharmaceutical factories inked memoranda of understanding and strategic
partnership deals during a recent meeting of the Supreme Committee for the
Integrated Industrial Partnership in Amman, which saw the participation of
Jordan, the UAE, Egypt, and Bahrain. During the meeting, cooperation agreements
between Jordanian, Egyptian, and Emirati pharmaceutical factories were likewise
sealed to establish projects with the backing of regional funds.

Regarding government
support for the industry, Atrash said some government decisions were made this
year to hasten the sector’s growth and achieve its desired goals, citing the
Cabinet’s approval of the amended bylaw for testing medicines, and the
exclusion of research and development materials from taxes and customs.

“The inclusion of
the pharmaceutical industries sector in the Economic Modernization Vision
reflects its significance as a key tributary to the Jordanian economy, seeking
to attract an estimated JD1.1 billion in investments within 10 years,” he
added.

The state of the
sectorThe pharmaceutical
sector, which contributes 4 percent of the nation’s GDP, employs about 7,000
individuals, the majority of whom are Jordanians, with 35 percent working
women.

Through 24 production
facilities, it exported goods worth $600 million to more than 80 overseas
markets in 2022.

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