Expanding its international market is the strategic priority of Cheerland Biotechnology in 2023. Recently, Michael Garvey, president and managing director of Cheerland Biotechnology, led a team to visit bio-pharmaceutical enterprises and industrial funds in the Middle East to seek cooperation.
The Cheerland Biotechnology team visits renowned Dubai-based pharmaceutical companies Julphar and Kelix Bio.
The Cheerland Biotechnology team in negotiation with Alma, a Dubai-based pharmaceutical company.
During the week-long trip, Michael Garvey and his team visited Julphar, Kelix Bio, Suhair Pharma, Alma, UPharma, Utopia, HoldiPharma and other well-known pharmaceutical companies in the United Arab Emirates, Saudi Arabia and Egypt. They conducted in-depth exchanges with local business leaders and government representatives on cooperation in promoting Chinese biopharmaceuticals abroad and exploring local and Middle East markets.
The Cheerland Biotechnology team visits Suhair Pharma, a pharmaceutical company in Saudi Arabia.
Located between East Asia and Europe, the Middle East countries have a large population and great economic development potential. In terms of pharmaceutical regulation, most countries have introduced FDA systems, and their regulatory standards are in line with the international ones. Besides, there is no shortage of high-end talent in the region, and many practitioners have doctoral degrees in biotechnology and specific research and development strength.
Under the current international situation, major oil-producing countries are seeking new economic growth points, and biomedicine has naturally aroused great interest from governments. For example, in Saudi Arabia’s KACST Vision 2030 development plan, biotechnology and biomedicine are listed as pillar industries. At the Riyadh Global Medical Biotechnology Summit 2021, government officials said that the biomedical market in Saudi Arabia had reached US $8 billion and will reach US $15 billion by 2030. Boosted by the Belt and Road Initiative, the trade, investment and cooperation ties between China and Middle Eastern countries in the pharmaceutical industry has become increasingly close in recent years. Cheerland Biotechnology also deeply felt the local companies' interest in Chinese products and markets, as well as their enthusiasm for joint research and development and technology transfer. The visit is just the first step in its strategy to go global.
Cheerland Biotechnology will further strengthen exchanges and cooperation with Middle East enterprises, not only promoting biological drug development and production projects, establishing overseas production bases in the Middle East, but also helping Chinese pharmaceutical companies go global and expand the Middle East market.
