Pfizer’s Emerging Markets President Meets Dubai Holding Officials to Discuss Regional Strategy

Dubai: 16 June, 2009 – Dubai Biotechnology and Research Park (DuBiotech), the major life sciences hub in the Middle East and a member of TECOM Investments, today announced Pfizer, the world’s largest pharmaceutical company, is looking at expansion options of their regional headquarters for Africa and the Middle East, based at DuBiotech facilities.

Jean-Michel Halfon, President and General Manager of Pfizer’s Emerging Markets Business Unit, met with high-ranking officials including His Excellency Mohammed Al Gergawi, Chairman of The Executive Office and Executive Chairman of Dubai Holding; Ahmed Bin Byat, Chief Executive Officer of Dubai Holding and Executive Chairman of TECOM Investments; Abdulatif Al Mulla, Group CEO of TECOM Investments, Dr Marco Baccanti, Executive Director of DuBiotech, and Marwan Abdulaziz, Director of DuBiotech Park.

Since establishing its regional headquarters in DuBiotech, Pfizer has achieved measurable growth in Africa and the Middle East.

Abdullatif Al Mulla said:

TECOM Investments is committed to attracting leading global organizations to Dubai and contributing to the creation of a knowledge based economy. We are keen to work closely together and to host companies such as Pfizer as a member of our community.  We believe Dubai will serve as an ideal strategic base for the regional expansion plans of the major pharmaceutical company.

Dr Marco Baccanti said:

As the region’s leading life sciences cluster, DuBiotech will play a critical role in providing the right resources to support Pfizer in the region. With our top-notch facilities, DuBiotech is well placed to support the pharma major’s current operations.

  

We believe DuBiotech is rightly positioned to help companies such as Pfizer sustain their pioneering status at the forefront of biotechnology.

Jean-Michel Halfon said:

Pfizer feels privileged to have the support of a major corporation such as Dubai Holding and its entities to build our already well-established operations. A base at DuBiotech will facilitate our efforts in meeting our long term objectives.

Biotechnology, which took off as a highly specialised scientific stream, is now at the heart of all biology and clinical therapy. With prestigious partners like Pfizer, DuBiotech is positioned to significantly transform biomedical research and clinical therapy in the Middle East.

Currently, DuBiotech hosts some of the world's top pharmaceutical/biotechnology companies, including Amgen, Aspen Healthcare and Merck Serono. Encouraged by intellectual property legislations, the government approach to clinical trials and new drug registration procedures, DuBiotech has firmly established itself as a globally recognized centre for the life science industries.

Notes to Editors

About DuBiotech

Announced in February 2005, the Dubai Biotechnology and Research Park (DuBiotech) is a science and business park dedicated to the biotechnology industry, set within a ‘free zone’. DuBiotech aims to set up a biotechnology industry cluster with cutting-edge infrastructure, facilities and services for incubators, R&D labs, biotech-related educational institutions, suppliers, biotech-related manufacturing companies and organizations from other sectors in the industry.  DuBiotech is advised by an independent steering committee on scientific, business and ethical matters. In cooperation with global research leader, RTI International, DuBiotech is developing comprehensive regulations that address all aspects of biotech activity. Being in a ‘free zone’ means biotechnology firms in the park have 100 % exemption from any form of taxation for 50 years, 100 % business ownership and 100 % repatriation of capital.

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