Abu Dhabi, UAE: The UAE’s first pharmaceutical research and development institute, the Dr B.R. Shetty Research Centre, has officially opened in Abu Dhabi.
The R&D facility, a project of Neopharma, Abu Dhabi’s generic pharmaceutical firm, was opened by Bank of Baroda chairman and managing director M.D. Mallya.
Dr Shetty, who set up Abu Dhabi’s first pharmaceutical manufacturing facility, described the research centre as “the cornerstone of innovation in pharmaceutical formulations, new drug delivery systems, nanotechnology and biological products for chronic or life threatening diseases.”
He said the centre would be a hub for the development of novel drug delivery systems aimed at the treatment of diabetes mellitus and cancer. In this attempt, Neopharma has introduced modified antibiotics and tablets to cure diabetes, he said.
The research centre has collaborated with Arkansas University for the development of microfibre nanotechnology for glucose sensors and nanotechnology-based microchips for neurodegenerative disorders. “In our collaboration with biotech leader Biocon, we have introduced novel nanotech product for the treatment of breast cancer,” Dr Shetty said.
Mallya praised the contribution of Dr Shetty in setting up a pharmaceutical production facility, which many thought was not viable then. Bank of Baroda had provided financial financial assistance to the project. He showed his confidence in the company, and its future growth prospects as it has offers for contract production for multinationals drug makers at its facilities.
Neopharma , a pharmaceutical manufacturing company started its operations in 2003. The company, which manufacturers 96 pharmaceuticals, has plans to expand it to 125 products by next year.
Others present at the opening included V.H. Thatte, general manager (international) for GCC at Bank of Baroda , Mumbai; K.V. Rama Moorthy, chief executive (GCC operations) at Bank of Baroda ; Narendra K. Batra, deputy general manager of Bank of Baroda Abu Dhabi branch; Dr Ahmad Zohbi, managing director of Amreet Trading; and Sharad Bhandari, managing director of Ardent Advisory.
© Khaleej Times
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