(EMAILWIRE.COM, March 07, 2023 ) Dubai, UAE (ARAB NEWSWIRE) — Pharmaceutical regulatory experts and industry professionals came together recently at a two-day regional Summit to discuss the latest updates in pharmaceutical regulations and changes in the pharmaceutical supply chain. The GCC Regulatory Affairs Pharma Summit, which was held in Dubai, United Arab Emirates, 6-7 March 2023, was attended by over 350 representatives from the public and private sectors along with more than 55 experts in the regulatory and legal as well as manufacturing and distribution domains of the pharma industry.
Senior officials from the UAE Ministry of Health and Prevention (MOHAP), Department of Health (DOH) in Abu Dhabi, Gulf Health Council in Saudi Arabia, National Health Regulatory Authority (NHRA) in Bahrain and the Ministry of Health (MOH) in Oman shared their respective regulatory authority updates at the Summit in view of the significance of the event in improving compliance and healthcare standards.
Speaking on the ongoing efforts to unify pharma regulations and drug approval guidelines at the GCC level Dr. Hajed Bin Hajed, Deputy General Director of the Gulf Health Council (GHC) said pharmaceutical companies will be dealing with one single Gulf market by 2025. “The Gulf Unified Market Plan is being finalised in co-operation with the drug registration committees of member States and will be announced in Q1 2023,” said Dr. Bin Hajed.
The annual Summit is the foremost strategic meeting place for the pharmaceutical and healthcare sectors in the GCC, both of which continue to grow exponentially. A report by ResearchAndMarkets.com says the GCC pharmaceutical market presents a US$20-billion-opportunity through to 2025. Overall, healthcare spending in GCC is estimated to maintain a compounded annual growth rate (CAGR) of 4.9% and reach US$99.6 billion in 2023, according to a whitepaper released this year by the Dubai Healthcare City Authority.
GCC governments have made it a priority to make their healthcare capabilities the best globally. While the region imports 80% of its medicines pharmaceutical manufacturing has gained momentum in some GCC States. Awareness on pharma regulations and compliance are vital to sustaining this momentum and expediting patient access to medicines, commented Dr. Mona Al Moussli, Co-Founder and Managing Director of PRA Consultancy, the organizers of the Summit.
The Summit also brought to focus the innovations and exemplary practices in the various areas relating to drug trials and approvals, including Data Integrity and Digitalization, Track and Trace and Serialization, as well as Intellectual Property Protection. Another highlight of the day was the announcement of the GCC Pharma Regulatory Awards 2023.
Healthcare standards upheld by GCC States even amidst new and unprecedented challenges have won global attention. The UAE, for example, was the first globally to achieve 100% vaccination following the recent pandemic. Competitive pharma regulations and compliance adds value to the superior healthcare infrastructure and standards the GCC has meticulously developed, said Dr. Najiba Al Shezawy, Co-Founder and Managing Director of PRA Consultancy.
Delegates at the Summit had a wide range of networking opportunities, including roundtable sessions with health regulators in GCC and the Jordan Food & Drug Authority to understand the policy approaches and processes adopted in their respective administrations.
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