Abu Dhabi is set to become a significant player in the global life sciences industry with the launch of Arcera, announced by the emirate’s sovereign wealth fund, ADQ. Arcera, a new company, will operate as a central entity for ADQ’s shareholdings in Acino (Switzerland), Birgi Mefar Group (Turkey), and Amoun (Egypt). This strategic move aims to position Abu Dhabi as a leader in the burgeoning field of life sciences.
Arcera brings together a formidable workforce of over 6,500 people, with its sales and distribution network extending across 90 countries. It will offer a vast portfolio of 2,000 branded medicines covering a wide array of therapeutic areas. The company’s operational base spans seven manufacturing and packaging sites located in the UAE, Switzerland, Ukraine, Estonia, South Africa, Turkey, and Egypt.
This initiative aligns with Abu Dhabi’s 2030 Healthcare Life Sciences Vision, furthering the UAE’s goal to become a science and technology hub. According to ADQ, Arcera plans to double its revenue in the next five years through targeted acquisitions and partnerships in key global markets.
The longevity sector, wherein Arcera is set to play a key role, is rapidly expanding and is currently valued at an estimated $26 trillion. Deep Knowledge Group predicts this sector to grow to $33 trillion by 2026. Specifically, the UAE’s longevity industry is projected to reach $32 billion by 2026, growing annually at 8.5 percent, as per a study by the Ageing Analytics Agency.
Isabel Afonso, CEO of Arcera, emphasized the importance of building a global life sciences company like Arcera, considering the increasing demand for high-quality and effective medicines.
The UAE, particularly alongside Saudi Arabia, is actively investing in health technologies focusing on medical risk prediction and medicine development. Both countries are funneling investments into healthtech, establishing laboratories to support research and development in diagnostics and preventative drugs, and inviting leading companies and institutions to establish their presence in the Gulf.
This sector, which encompasses biotech, pharmaceuticals, fintech, AI, and robotics, focuses on leveraging technology to combat diseases associated with aging, such as cancer, heart disease, and Alzheimer’s. These ailments have become humanity’s primary causes of death, replacing infectious diseases.
Saudi Arabia’s sovereign wealth fund, PIF, launched Lifera last year, a pharmaceutical investment company producing insulins, vaccines, and plasma therapeutics. Moreover, Abu Dhabi’s Artificial Intelligence and Advanced Technology Council recently announced the creation of MGX, a technology investment company with a focus on life sciences, in partnership with Mubadala and technology group G42.
In February, Abu Dhabi’s Department of Health signed an agreement with global biopharma company GSK, which is poised to revolutionize the global life sciences landscape.
Lina Shadid, health industries leader at PwC Middle East, noted that Gulf countries are responding to demographic changes that could potentially burden healthcare systems, making these investments timely and significant.
This series of developments in Abu Dhabi and the broader Gulf region signifies a pivotal shift towards an emphasis on life sciences, setting the stage for groundbreaking advancements and positioning the region as a key player in global healthcare innovation.
